Invest in PEIOpportunity
Vacant land and building lots
By Jodi Bernard, PEI REALTOR®, CENTURY 21 Northumberland Realty. Updated .
A lot is a plan, not a cottage. The useful questions are whether you can put a septic system on it, whether the use is allowed, and whether you can reach it in the season you care about.
Who this suits
Buyers who will build, or who are comfortable holding land while they decide. Land does not produce rent. Carrying costs are tax, insurance if any, and the interest on money that is not in a building yet.
Questions before you offer
Ask for the perc test category, the survey, zoning, and any covenants. A Category result is not a building permit. Private roads, rights-of-way, and power at the roadside change both cost and resale.
- Perc test and well feasibility
- Zoning and restrictive covenants
- Legal access, not just a path people use
Building later
Budget the driveway, septic, well, power, and permits separately from the lot price. A pretty field with no test and no deeded access is a different purchase from a surveyed lot in a subdivision.
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This is educational, not legal, tax, or lending advice. Ask Jodi Bernard about a specific property.