When many people start looking for a new home, they wonder what they should choose and how much of an investment it will be. Although many people aren't quite sure about what their new home will look like, the fact of the matter is that there are many aspects to be mindful of when it comes to real estate. From paying attention to how much things cost to looking carefully at your options, it really pays to understand and apply a little wisdom before you break ground on a project. Check out these posts to find out great tips about real estate.
If you want to purchase some undeveloped land, you need to do more than show up and see if the land looks good. You need to research the land and find out if it meets your needs.
Tip #1: Consider the Value of the Surrounding Land
When you look at a piece of undeveloped land, you need to consider the overall potential of the land. What does developed property in the area sell for? Looking at the value of developed property in the area will help you determine if the land is worth purchasing and developing. You don't want to invest in land where the surrounding property values are too low to be worth it for you to make the investment.
Tip #2: Investigate Utility Access
With undeveloped land, you are literally purchasing land that doesn't have any utilities set-up on the land yet. That means you need to investigate what the potential utility hookups would be. Not all undeveloped land can be accessed with utilities, and it can be costly for you to set up the utilities you need. You need to find out what this cost will be so you can determine if the land is the right investment for you.
Tip #3: Get a Survey Completed
Third, you need to get a survey of the land. Just because you can walk the land doesn't mean you know everything you need to know about the land. With a professional survey, the surveyor will identify the boundaries of the land. The surveyor will make sure that no one is encroaching on the land. They will create geology and soil reports.
The surveyor will also investigate the land and make sure there are no easements on the land. They will investigate all legal claims on the land so that you can purchase the land, knowing it is free of any other legal claims.
Tip #4: Find Out About Zoning
Finally, you need to find out what the zoning is for the property. Make sure the zoning and ordinances fit with what you want to do with the property. It can be extremely difficult to get the property rezoned, so you need to make the land is zoned right.
If you are interested in purchasing undeveloped land, be sure to consider the value of the land around the property. Make sure you can set up utility access on the property and the zoning works with your intentions. Always get a formal survey and inspection before going through with purchasing the property.
To learn more about undeveloped land for sale, contact real estate agents in your area.
Share5 March 2020
