My house sits on a huge land area (~ 2 acres) and it’s become difficult to manage it. How easy is it to bifurcate the land and sell the open plot? What are the steps involved in this process? #personalfinance #investments
Maybe buy or rent a few goats to keep the grass in check?
First you need to check the zoning for minimum lot size restrictions. Then find a real estate attorney.
Thank you. Yes, the land area that I am planning to sell is lot more than the minimum size restriction
What's the zoning of the lot?
1) the jurisdiction you live in matters a lot. 2) the minimum lot zoning also does - it is about both of the lands - the one you are selling and the one you are buying. 3) both lands also should have some minimum access to the road. 4) in most areas there is a period where neighbors have the right to object the division. So you apply -> get provisionally approved -> there is a consultation period -> final approval 5) splitting land is typically the second smartest move you can make with large land. The first is to build higher density housing - eg apartment block if possible. The second is splitting and the third is building a larger house and selling for higher $/sqf 6) the quality of the land matters a lot. Is this flat surface? Is it a jungle? Is there water running through it? Is there major piping underneath which prevent construction?
I appreciate your input. The county is a sought after one. The land if split - both the properties already have access to the road. The land is on a gradient and it’s well landscaped with lawn and a couple of fruit trees at the back end of the lot. There’s no flowing water on the land area. Great point about the piping - that I need to check. Is there a way that can be verified without a surveyor?
Seems this property owner did it recently. If you are in California check with the realtor on what your options are and how the process went - https://www.zillow.com/homedetails/682-N-San-Antonio-Rd-Los-Altos-CA-94022/54770396_zpid/