Look for the way in which water flows across the lot. If so, it will have drainage problems as water runoff flows onto the lot. If it is not, it might need to be filled in - a potentially expensive job. They are often priced lower than a level lot of the same size and location. Yet, once developed, they can have more value because of their character and more diverse landscaping potential.
Landscaping is also more interesting on an uneven lot.
You can create terraces, multi-level patios, and ravine views. Services Always find out what services are included with the lot. City or town lots must be connected to municipal services. A serviced lot will already have these hookups. An unserviced lot will involve extra expense to obtain them.