Ask Your Question

Angie's List Answers is the trusted spot to ask home improvement and health questions and get answers from service companies, health providers and consumers. For ratings and reviews on companies in your area, search Angie's List.

 
 
or
Submit
Top 30 Days Experts
Rank Leader Points*
1 kstreett 240
2 Guest_9020487 110
3 Guest_9190926 105
4 GoldenKid 100
5 ahowell 95
6 KnowledgeBase 95
7 skbloom 80
8 Guest_98024861 70
9 Guest_9311297 70
10 Guest_9400529 70

*Updates every 4 hours

Browse Projects By Category

Question DetailsAsked on 12/4/2014

Cost of 1 acre of land in New City, NY?

Looking to build a residential home on 0.5 to 1 acre of land in New City, NY suburb; need cost of land estimate

Do you have the same question? Follow this Question


1 Answer

0
Votes

I would imagine you could get a half to full acre for between $1 and several in Greenwich and Fairfield listing in the several millions - the former being a condemned contaminated industrial site with millions in cleanup liability attached to it, the latter prime estate acreage - the question is what exact area are you limiting your search to ?


You need to be looking at a local website that has the MLS (Multiple Listing Service) current listings (NOT something like Zillow, which can be WAYYYY off), or talk to a realtor about your needs and let them search available inventory in your desired area for you. Most people would start off finding the area they want to live in first, THEN decide whether they want to buy existing that they like, remodel existing property to suit, or build from scratch on a vacant or tear-down lot.


You can also get a ballpark idea (NOT budget quality) buy finding a few listed lots in your general desired area and compare their assessed value (for property tax purposes, on government website) with the listing price - then use that markup percentage to compare with the lot assessment (as opposed to improvement or building assessment) for existing homes in youir desired area - for ballpark purposes.


Bear in mind also development costs - lot pricing will vary a lot depending on whether it is fully subdivided with legal lots and paved access and utilities installed and such, versus maybe a lot that is there because it does not meet legal requirements for building on - so buyer beware. Also, many vacant lots in developed areas are vacant for one of three reasons - in default, being held by a speculator for top dollar (and is willing to wait), or there is something wrong with them - contamination, buried tanks, adjacent to undesireable facility like inductry or sewage pumping station or such, etc.

Answered 5 years ago by LCD




Related Questions


Terms Of Use
|
Privacy Policy