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A land survey defines and records the physical aspects of a property, including its boundaries, dimensions, easements, features, and sometimes topographical information. In contrast, a land appraisal determines the property's monetary value. While an appraiser will often consult a land survey to understand the property's physical specifications, the survey itself does not determine the land's value.

Depending on the type of land survey, the report will mark the boundaries of your property, the topographical changes of the landscape, as well as major natural and added structures to the plot. A more detailed survey, like an as-built survey, will note the measurements of the structures and landscape following major construction. A topographic survey will also help your contractor determine the cost of land development projects.

You can’t build on undeveloped land without preparing it for construction, which involves running utilities to the site or accounting for private utilities like wells and septic systems and grading and compacting the soil for safe construction. Once you prepare the land, you can build on it as long as the project abides by local zoning regulations.

You should always calculate real estate development costs on a case-by-case basis, so there’s no specific formula to estimate your total. You should speak with a local construction manager to see what you’ll need to do in terms of clearing and leveling the land, connecting utilities, and pulling permits for construction. A professional will be able to get you an accurate estimate for land development.