Buying a piece of land is a process; you identify it, then get someone to guide you, confirm the authenticity and legal owner, value through to the time you pay the last dollar.
But before you purchase land, you need to take time and walk the perimeter of the property and find out if there could be issues that would interfere with the plans of the property. Are there hills, slopes, or what is the soil? Such details are essential to know the cost you may incur putting up some property should you buy it.
What things do you look out for?
Research the plans and zoning of the land nearby
Do some proper homework before you invest in real estate, and land is no exception. It feels bad when you’ve bought some land and cannot build the property you intended. That can be so frustrating. You could also buy some land and later find that it’s a flood zone-what would you do? Talk to the local land assessor and get to know the land specifics of the area. Find out also the land zonings of the location.
The future zoning of the area should also be a matter of concern. Certain developments can significantly affect the value of your property. Imagine you buy land and built apartments for sale, and after some time, there’s an industry coming up. You may find it so hard selling or leasing your property- what a disappointment!
Title search
Before you pay any coin, you have to allow for a survey by a licensed professional and carry out a title search. Look for landlocked properties and easements from utilities. Could there be a creek on the property? Does the property flood?
Anything that will keep you from flooding should be investigated. Other areas cannot be built because the land is sandy. Each area presents unique challenges that you should address before you buy. Again, another aspect you need to check out is whether the property title is clean. That means you check properly to ensure there are no liens against the property and that the seller has all authority to sell the land.
Utility checks
If you plan to put up some property or develop it in any way, you need to make sure utilities are available and accessible. The most developed areas are on municipal water. However, if it’s septic used in your area, you can try and have a perc test done, then calculate the cost of drilling a well. Check out for gas lines in the land, or will you be using electricity only? Are there additional costs you’ll incur like internet, water, cable, electricity and such? You have to get everything right beforehand and not down the road.
Just like when buying a home, you have to be extra careful and pay attention to the details when purchasing land. Work with a land specialist to help you get vacant land Orlando with a clean title free from any encumbrances. Pay attention also to the neighborhood to ensure that the environment is peaceful.
