Is real estate for land different than Houses?
By Thomas Santore Lic Associate Real Estate Broker, Realtor®-ABR-Land, Residential & Commercial Sa
(Coldwell Banker Realty/Coldwell Banker Commercial NRT)
Is real estate for land different than Houses? Yes — real estate for land is significantly different from real estate for houses, both in how it's marketed and how it’s evaluated, sold, and financed. Here's a breakdown of the key differences: 🔍 1. Valuation is More Complex Houses are appraised based on comparable sales, square footage, finishes, condition, and location. Land is valued by zoning, development potential, access to utilities, topography, and permits/approvals like BOH (Board of Health) approvals or site plans. Example: A flat 1-acre lot with town water/sewer in Yorktown may be worth more than a 3-acre sloped lot without approvals in Putnam Valley. 🛠️ 2. Improvements and Use Homes are typically ready to live in or rent out. Land often requires clearing, surveying, engineeri...
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