Buying land is a fun investment you will enjoy. Purchasing rural land can be a good investment that will bring you and your family years of enjoyment, then later can give you an excellent return as an investment. That’s the reason so many people are converting funds invested elsewhere to money in land. If you are seriously thinking of buying land for the purpose of property development, then you should know that there are a few things that you must do well before you can get any meaningful results and to make sure the process goes well.
Make Sure Your Idea Works with the Land
This is simple really. You have to be sure that the land on which you intend to build the property matches the size of the property. For example, it doesn’t make any sense to think of building a sky scraper on a swampy site. While this is possible, it will cost you far more than it would if the land was really solid. Also, a sprawling mansion will not conveniently stand on a small piece of land. That is the reason you find that when people want to build a mansion, they often buy out the adjoining and neighboring properties to have much more room.
The Availability of Utilities
Unless you are able to generate your own electricity, you should consider the proximity of these to your intended property. For example, many people make the assumption that they can just build and fix that later. The truth is the power company is not going to install an extra line for you from the power grid unless you have some clout. So, ensure that facilities such as electricity are well planned for. If the power company is unreliable in that area, consider using alternative energy generating sources like solar panels and windmills.
Other facilities like the septic tanks, phone services and gas services should be within reach. This means that if you have to drive out to town once a week or once in two weeks, you should be able to get the gas you need. On the other hand, you just might look for a way of generating the necessary energy needed.
Are There Any Easements?
Easements are simply put, the right to be able to use someone’s landed property. You should find out about this from the local authorities. If you are getting confused, consult a real estate lawyer on the issue. They will be able to offer you solid advice. One way you can make sure you control the easements is by ensuring that you sign an agreement that basically says that you have the right to approve or disapprove any easements. This will help you ensure that you have more control on the property.
Locate all Boundaries and Sign an Agreement as to Road Maintenance
You should be able to locate the boundaries of the property you intend buying. You can do this by looking in areas where the land takes a bend, tracks and cut-throughs in the forest. If you don’t know how to do this, get a surveyor to do it. Also, ensure that you sign an agreement for the road maintenance if there is a private road that leads to the property.