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Purchasing Land In Harrisonburg and Rockingham County

October 23rd, 2012 by Lisa Oates · No Comments

It is definitely more popular to purchase an already-built home than it is to purchase a piece of land in Harrisonburg and Rockingham County. We’d be willing to bet this is true for 99% of communities across the nation. But that does not mean the land market is non-existent. New housing starts are up this year, and all of that new construction must be built on vacant land.

For the statistically-minded…

Currently, in Harrisonburg and Rockingham County (including Massanutten), there are 379 lots for sale, and 170 pieces of acreage for sale. 22 lots and five pieces of acreage are currently under contract. 48 lots and 31 pieces of acreage have sold in 2012 so far.

Over the past year, 8 lots have sold in Magnolia Ridge, 6 have sold in Parkhill, and 4 have sold in Crossroads Farm. Most pieces of land that have sold, though, are not in subdivisions at all.

Neighborhoods with available land

There are several neighborhoods in the Harrisonburg area with empty lots just waiting for new homes to be constructed on them:

Expenses to consider

Though buyers typically pay substantially less in closing costs (taxes, for example) for pieces of land, it is also wise to consider expenses — especially when thinking of building a home on said land — like water/sewer hookups, construction costs, loans, title searches and title insurance, settlement fees, taxes and surveys.

Building your dream home doesn’t have to be a dream. But you do want to make a wise financial choice. If you are thinking of buying or building, contact us to talk through your options!

Tags: Buyers · Places


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