Buying Land and Acreage

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Whether you are planning to launch your very own business, or if you have been considering building your own home as well, buying new land and acreage is an investment possibility that will allow you to have the freedom you need in order to complete the plans you have in mind. Before you set out to compare and purchase land and acreage on your own, there are a few factors to consider in order for you to ensure that you are getting the most value for your investment, regardless of where you are currently living and planning to purchase your land from.

Why Investing in Land and Acreage is a Wise Idea

When you are considering purchasing land, you may be weighing the pros and cons of doing so. Investing in a new piece of land will often save you money in the long-run, especially if you are planning on occupying the land for the rest of your life or for an extended period of time. Purchasing land in the country is much cheaper than living in city, and by saving on a rent payment each month, you can easily make up for the cost of land with your own job or the income you plan to generate.

Renting Land Before You Purchase

If you have never purchased land before for your home or business purposes, you may have the option of renting land before you sign on to buy it entirely. Renting land before you buy allows you to understand the principle of the land’s price and to get familiar with leasing land as well, especially if you are preparing for a large purchase.

What to Consider Before Investing

Before you invest into a piece of land, it is essential to consider various factors that will help you to save money while choosing the right location for your new development.

Location and Surroundings

Choosing an ideal location is essential when you are investing in a new piece of land, regardless of the state or city you have selected. If you want to operate a business with walk-in customers, you will likely want to avoid choosing a piece of land surrounding by smog, fumes, and factories, as this may deter customers from visiting your storefront.

Zoning Laws and Requirements

Understanding the zoning laws in your area is another key factor in purchasing a new piece of land, as you may be required to build a specific distance away from homes and residential areas of the city you want to own property in (depending on the plans you have for the land). You can find out more about city zoning laws by viewing your city’s official website or by visiting the local city or town hall.

Elevation and Natural Hazards

Researching the surrounding area and land of the property you are interested in can give you a better idea of what to expect in future years and with dealing with natural disasters, storms, and potential hazards. Understanding whether your property is near a large body of water, hills and mounts, or even located in a valley will help you to not only get familiar with the area, but it can help with finding the right insurance plans for the protection you will need.

Knowing all about local potential natural hazards (including tornadoes, hurricanes, or even large dust storms) can help you to find the property that will work best for the type of business or home you are constructing.

Utilities

When you are comparing property, ask about the various utility options you already have in place. Some land an acreage may not have water or electricity available at the time, which can incur even more expenses to you even before you are able to begin building. In some cases, you may need to install your own propane tanks and generators while having to pay for electrical, phone, internet, and water services to be hooked up as well.

Overall Cost and Appraisals

Working with a professional real estate agent who specializes in land and buying acreage can help you to get the most land for your money. Getting a lender appraisal will help you to get the appraisal you need to get a valid estimate or quote on the land you have your eyes on.

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