Purchase of land in Cape Coral | Florida
As the supply of existing properties in good locations is rapidly declining, investors are increasingly focusing on the purchase of vacant land in Cape Coral followed by new construction. In principle, from an investment point of view, a property should only be acquired in a sought-after region with outstanding growth prospects. Cape Coral offers the best conditions for this. If one disregards the available budget for a property purchase in Cape Coral for the time being, the following property types are available:
Types of lots in Cape Coral
- Dry lots (off water)
- Freshwater lots - waterfront lots, but no boating access to the Gulf of Mexico
- Gulf access lots - waterfront lots with boating access to the Gulf of Mexico
The value of these types of vacant land in Cape Coral depends on several factors, especially the location of the land:
Dry Lot
- Lot opposite a lot with access to the Gulf of Mexico
- Lot opposite a waterfront property without access to the Gulf of Mexico
- Lot at two intersecting streets (corner lot)
- Lot between two other lots (infill normal lot)
Fresh Water Lot
- Lot with lake view
- Lot with view of a basin
- Lot with view down the length of the canal
- Lot at intersecting canals
- Lot with connection to other lakes
- Lot with connection to other canals
Gulf Access Lot
Lots in Cape Coral with boating access to the Gulf of Mexico are in the most expensive category. The main factor that determines the price of a Gulf access property is the length of time it takes to reach the Gulf of Mexico by boat. The shorter the boat trip, the higher the price of the land. TOP locations of the Gulf access properties in Cape Coral are located directly on the river near the estuary into the Gulf of Mexico. Other top locations with short distance to the Gulf are those south of Cape Coral Parkways without bridges or locks (important for boats with flybridges or sailing boats). In addition to these main factors that determine the property price, the following aspects also have an effect on the value of the property:
- Lot with view of the river
- Lot with lake view
- Lot with view of a basin
- Lot at intersecting canals
- Lot with a view of a wide canal
TOP location on the river
Considerations before buying the Cape Coral property
Once the selection of a particular property in Cape Coral has been made, the estate agent must clarify further factors:
- Type of possible development (single family home, apartment building, commercial) - Zoning
- Building restrictions
- Name of the owner or name of the listing agent
- Size of the lot according to the land register
- Freedom of encumbrance of the property (development costs, easements, land charges, etc.)
- Amount of property tax
- Storm and flood zone (important for the respective insurance companies)
- Attention to conservation constraints (burrowing owls, presence of red mangroves on waterfront properties).
If the potential property buyer is already planning a specific project, the fundamental feasibility of this project on the piece of land he is interested in should be discussed and checked in advance with a building contractor before the purchase. A state-licensed surveyor should be consulted for the final securing of the indicated property size and the property boundaries (survey).
A not insignificant cost factor with a waterfront property is the seawall. Each lot must be secured along the canal with a seawall. If there is no seawall, it must be added by the buyer first before the new home construction begins.
At a standard lot size of 80 ft (width) x 120 ft (depth), the cost of a seawall is far over $10,000; if the lot is located on intersecting canals (i.e. two waterfront sides), it will quickly cost well over $20,000.
Realization of a new construction in Cape Coral
After the purchase of the building site we are at your disposal for the realization of your new home. If you have already drawn up a plan, we will put you in touch with renowned building contractors in Cape Coral to implement your project. Your planning is transformed into a design planning that can be approved in accordance with the Florida Building Code and submitted to the responsible building authorities for approval. If you are still open in your construction planning, we will show you a multitude of possible building designs on the basis of various models, which you can of course modify according to your needs (semi-custom home).
If you want to purchase a lot in Cape Coral | Fort Myers, please contact us!
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