Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
3y
@Francisco Milan Survey….no, but you’d have to do this to subdivide.
Subdivide….maybe. It depends on if smaller lots would be buildable, the costs to subdivide and if the smaller lots are in demand and priced at higher $/sf.
Septic/well…not any more than the cost to install, plus buyers may want them located in a different spot.
@Francisco Milan Survey….no, but you’d have to do this to subdivide.
Subdivide….maybe. It depends on if smaller lots would be buildable, the costs to subdivide and if the smaller lots are in demand and priced at higher $/sf.
Septic/well…not any more than the cost to install, plus buyers may want them located in a different spot.
I'll add. Rezoning could add value. There is a time and effort associated with rezoning that would be beneficial for a developer to have the land already zoned accordingly. You likely need to reference City zoning maps and/or the surrounding areas to see what this can be rezoned to. It has to align with what the City wants or you will be facing an uphill battle to gain approvals.
On the well water, it depends on where this land is located. For example, is this in a rural area where it is possible well water may not be available? If that is the case, it could be valuable to have a test well drilled to KNOW that the site will have sufficient water supply. If everyone has water in this area and thats not a concern, I dont think drilling a well adds any value up front.