Located in Northern Orange County, California, Fullerton has a growing population, which was estimated at around 138,981 in 2013. This surpasses many nearby locations, such as Brea with a population of 40,963 also in 2013. Fullerton has many educational institutions, both at the elementary and high school levels, as well as the college and university levels. This makes it a popular location for families to settle in and buy land.
The temperate weather conditions of Fullerton make it a prime area for construction, as there is little rain or poor weather conditions to hamper the progress of projects. The time frame for most construction projects vary, but is shorter than in other northern California locations, where weather is cooler, and construction times have more limitations.
There are several land ownership opportunities in Southern California, but deciding on leasing or buying is another story. A real estate professional is your greatest asset during this transaction, as he or she can walk you through the process and determine whether additional permits are required before construction on the land can commence. Not all properties are designed to host commercial or residential buildings, so you’ll need to investigate these avenues before signing a contract.
Fullerton Land for Sale & Lease
From $200,000 to $2,500,000, land prices fluctuate in Fullerton. You will find that when leasing in Fullerton, most of them come with some type of building already on the property. For this reason, lease prices will differ from purchase prices, because leasing a building will be based on nearby property values, square footage, and location. Buying an individual lot with no building appears cheaper because there is still a need to finance the construction of whatever will be erected on the land.
For buyers, there isn’t always a necessity to have a building on the land. In fact, some Fullerton land buyers, do so as an investment for future sales based on the continued growth of the city, and the popularity of this Southern California location as a selling point. Meanwhile, the resale value of land continues to increase annually, but isn’t a guaranteed investment as the market is always changing.
Fullerton Land for Sale
The cost of Fullerton land for sale is comparable to many other Orange County locations, but is still less than purchasing in large areas like Los Angeles or San Diego. Being a land owner opens the doors for income property options, new living arrangements, or business solutions depending on the building permits acquired. Fullerton city officials are equipped with information on water and sewer codes, restrictions on individual zones, as well as preservation laws. A visit to the city hall could provide you with past paperwork on the land, information on previous owners, and whether anything has been built on it before.
Health and safety are big concerns when building in any area, and while Fullerton is known for being a relatively quiet residential area, there are still problems you’ll want to avoid. If you plan to build a house or business, you’ll want it connected to city water and power, as well as other factors.
In the year 2000, the United States Census Bureau determined that the cost of building a brand new house would run around $82 per square foot. This is substantially more than a renter would pay per year, but it also guarantees you ownership of something in the end. This value has fluctuated, and more than a decade and a half later the cost is up to about $90 per square foot. This is another subject to discuss with your realtor.
Fullerton Land for Lease
Leasing land in Fullerton often comes with the responsibility of some form of building as well. This is because there are so many complications which arise from building on a site that is merely leased and not owned. Leasing does require less long-term commitment, and often provides you with maintenance help through the leasing company or individual. Property upkeep and landscaping are sometimes included in a lease agreement, and you may be able to tailor it even more to suit your requirements.
A lease means that there is a contract involved which ties you to a location in Fullerton for a set amount of time. After that time, you could choose to lease again elsewhere, or buy. Of course, there are drawbacks. Should the owner of the land decide to sell or choose to stop leasing to you following the end of your contract, you could be forced to move from an area where you have established your family or your business.
Researching your options, and visiting possible lease or purchase sites in person is important. Once you have your mind made up about buying or leasing, ask your realtor to set you up with some viewings around Fullerton, this will give you a better idea of potential sites and which work best for your purposes.