Beginner Land Purchase Factors You Should Know
Buying land is one of the more overlooked forms of real estate investment with surprisingly lucrative returns. Here are 10 beginner land-purchase factors explained that you should consider as part of your due diligence.
1. Having Professional Help
When it comes to buying land, working with a real estate or buyer’s agent can be a boon, especially if it’s your first time. You want to find a local professional in the area.
2. Where Is the Land Located?
Proximity, be it to the road, utilities, water sources, or town clerk services, is an essential factor when considering a land purchase as a beginner.
3. State of the Local Market
You want to subdivide the land you purchase, and you must ensure there'll be buyers to whom plots are attractive.
4. Environmental Issues
Take a look at the local environment or the ecological state of the land before thinking you've landed a good deal.
5. Shape and Size of the Land
Before buying land, you'll have a plan of its intended use. Getting the map and survey documents of a prospective plot purchase will help align your intentions with the size of spread you'll buy.
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