Yes, title insurance protects against claims that could challenge your legal ownership. It covers liens, legal errors, unpaid taxes, and other title defects for the property that a title search didn’t uncover prior to purchase.
It’s generally wise to use a realtor when buying vacant land, as you benefit from their local expertise, negotiation skills, and MLS access. But you can find affordable FSBO deals without an agent if you do thorough research and get legal guidance.
Lakefront and oceanfront parcels are rare and pricey but possible. Listings on coastal outskirts of Bridgeport, New Haven, Groton, and Stonington may offer water access. Inland listings near Candlewood Lake, Highland Lake, and Lake Waramaug also provide water recreation.
Recommended inspections include: survey, title search, soil tests, environmental assessment, septic evaluation, checking for easements or right of ways, groundwater testing, perc test, and identifying wetlands or flood zones.
Local zoning regulations determine if you can place a tiny home on a land parcel. Some rural towns allow tiny houses, while suburbs may prohibit them. Research zoning rules on minimum dwelling size.
Property taxes in Connecticut are among the highest in the U.S., though vacant land has lower taxes than developed properties. Average taxes on vacant land range from 1-2% of assessed value. Rates vary by town.
For more affordable land, look in rural areas farther from cities and desirable amenities. Seek parcels without existing structures that need clearing or have limited utility access. Consider adjacent less pricey regions like northeastern PA, upstate New York, or the Naugatuck Valley.
Land prices vary dramatically based on location and acreage size. Rural undeveloped parcels can cost $5,000 – $15,000 per acre. In suburban or urban areas, land can cost over $100,000 per acre. Smaller lots under an acre may start between $50,000 – $150,000.
