Subdividing property?

We have a very large piece of property that has been neglected for 15+ years. We have worked on the front lawn, side yard and backyard, but that still leaves our plot of land to the right which is in bad shape. It's been a dumping ground for the neighborhood and previous owners. It's relatively flat, but completely overgrown and heavily treed. It's about 100x100, and we are in the very early stages of thinking of selling it. Truth be told, we still have plenty of yard space, but with a baby on the way and other improvements we'd like to do, I can't reconcile spending $20k just clear it, grade it and lay grass.

My concerns are whether or not its even worth it, as in, will it negatively impact my home value? We just closed in April. I imagine our taxes would decrease. The area we live in is very hilly, North Shore eastern Suffolk where all the houses are teeny bungalows on teeny properties. We have a nice ranch on a flat 100x200. So maybe it's lucrative for the area.

If anyone can give any insight, I'd appreciate it. We truthfully have no idea where to start and certainly won't sell it for a quick buck. We're content to keep it unless it is worth our while.

Subdividing property?

I would first start by looking at your zoning laws - see if it is fine to have 100x100 property in your area

If you are selling a corner property with set backs could a person build a house on the property - you might also want to look up how close the house would be to yours

I would talk to a realtor and see how much they say the land is worth too

also you may want to know where your septic system is because it could be on that property and it could cost you money to move

the property would also have to be big enough to have a house and a septic system

Subdividing property?

Thank you!

DH *thinks* you can go as small as 40x100, but he'd be interested in selling it as 80x100. I will definitely look into the septic system as well, I have no clue on that.

I think I might put a call in to our buyers agent and see what she says. She was soooo knowledgeable about the area, I really would trust her opinion first.

Re: Subdividing property?

40x100 lots are not uncommon, but they were almost definitely subdivided before the zoning changed. In the Town of Brookhaven no zoning districts allow new lots smaller than 9,000 sf, but that may not be the district you are in. The next smallest is 15,000 sf.

If you are really serious I would speak to a realtor and the town planning department to see what exactly is possible.

Subdividing property?

I just spoke with my realtor who recommended contacting an expediter who could provide me with all the details, costs, etc and then she could give me a price.

We are in Town of Brookhaven.