Amidst the pressing issues on economic and financial downturn, there are still industries that offer amenable choices for real property investment. For instance, buying a good parcel of land is quite a profitable venture especially if you wanted a long-term investment to start with. Hence, before plunging into more transactions and finalization of your plans, know the different pointers included in the checklist for productive and highly valuable land buying venture.
Before you buy a piece of land, regardless of its worth and expanse, it is imperative that you basically comply with the zoning requirements. Always consult and check with your local authorities from the city, county or state as to the zoning ordinances observed and implemented in the area. This will serve as your safety net as well as guidelines regarding the appropriate and amenable type of residence you will eventually decide to construct on the land. There are states and areas which have stringent standards and regulations particularly on the construction permit they issue to those who are planning to build a residence within their jurisdiction.
You must also make sure that you have substantial facts and information at hand regarding the future zoning, real property and infrastructure projects and the like that may either appreciate or devaluate your land.
Another sound step to consider is making a feasibility study and comprehensive research regarding the natural phenomena that the land is exposed to or may inevitably experience in the future. For instance, it must be your utmost priority to check for instances of natural hazards not just on storm, typhoons, flood, tornadoes and hurricanes. You must also secure a natural hazard disclosure particularly on soil problems. Some land may have excessive or prominent asbestos found in the rocks or solid which may definitely affect your health and that of your family. This disclosure gives you the right and accurate information as to the risk factors present in the habitat you are planning to purchase land in.
Search for sufficient and accessible utilities in and around the area of your prospective land. Water is definitely important and this utility is of primary value to search and ensure present in the venue. Find areas with substantial water supply particularly potable water. You may also look for geographical difficulties and hindrances which may keep you from conveniently installing electrical, telephone and even cable services to your future property. If you consider installing a generator in times of power outages, it may be a very viable option especially in places that are quite far from power supplies and establishments.
Most importantly, make sure that the land is quite accessible to road and transportation especially if you have limited resources or means to travel. This is quite true when it comes to buying lands that are extremely far from the urban area. However, you must not also compromise your privacy and peace especially from the noise pollution of vehicles and the like.
Buying a land for your real property investment is indeed a remarkable choice especially if you follow the right checklist for your purchase.