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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.

When considering the price of drilling a well, factor in how much you’ll save in water costs per year. The average family of four uses 100 gallons of water per person per day in the U.S. With a private water well, you can save hundreds each year.

Wells are also environmentally friendly. You don’t need to worry about drinking water treated with chemicals. Talk to at least three well pump contractors in your area. They’ll be able to tell you more about your options, give you different quotes, and discuss the biggest concerns.

Prior to excavation, you should prepare the dig site and call 311 before you sign anything.

To get your site ready for excavation, you should move anything in the area that isn’t affixed to the land. You can save money on the excavation by removing hardscaping, including walkways, decks, concrete patios, and paver patios.

Before you carry out any digging, you should call 311 to confirm that there are no utility lines running through your excavation site. Skipping this step could lead to severe injury and property damage if your excavator hits a water, sewage, or gas line.

Land surveys are worth it in several scenarios including selling your home, building an addition, constructing a fence, or making major changes to your landscape. A professional land survey can help you avoid legal issues with your neighbors and confirm the value of your property. In many cases, you may be required to order a land survey to receive a construction permit or mortgage loan.