Purchasing a plot of land is just as challenging as looking to buy a home. Some may say buying a plot of land can be slightly more complicated than purchasing a house. The complications come in several forms; this is why our team has gathered a few tips on what to look out for and keep in mind before purchasing that plot of land.
Here are five tips to consider when purchasing a plot of land:
Assess if the plot of land is buildable
Although it may seem an obvious point, assessing whether the land is buildable or not is extremely important. There are factors to consider, such as soil quality in the area, whether the area is prone to flooding, and the plot's building percentage.
These factors should be considered based on whether you would like to build a house that meets your lifestyle or whether the goal is to invest in a plot of land that may be sold in the future. Regardless of the purpose, it can be a harmful investment if the above points are not considered.
The importance of location
Another point that should be considered when investing in a plot of land is the location. Have you chosen an area that is hardly built up? Ensure to check if the location is buildable and if it is a desirable area for investment.
Looking into locations that have school access, closeness to businesses, restaurants, and local amenities, will inevitably increase the value of the plot of land rather than one that is in the suburbs with no basic amenities at easy reach.
Access to utilities
Before investing in buying a plot of land, check whether the area you are looking to purchase has essential utilities like water, electricity, gas, sewer systems, cable, and telephone availability.
Ideally, this should be questioned before even considering a plot of land, especially if you are looking to invest in one that is within more rural or secluded areas.
Environmental issues to consider
Before looking to purchase a plot of land, research should be considered for any environmental hazards in the area. Anything from contaminated water or soil can be a significant issue that can affect a home after the building process.
Work with an agent to find the plot of land
For the ideal support required in purchasing a plot of land like negotiations, due diligence, and closing the deal, it is always best to have an estate agent by your side.
Our agents have the experience and know the extensivity required to negotiate land deals. With 30+ combined years in the industry, our team will always be by your side and supporting you through these stressful processes.
If you are looking to purchase a plot of land, our team is at your disposal. Simply give us a call at 77000111!