6 Things to Ponder Before Buying Land

Before buying land, make sure you run through this list.

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Have you ever thought about buying that beautiful piece of land and building your forever home on it? Before you do, there are some things you need to know:

1. Buying land is a long-term investment. Whether you’re buying it for residential or commercial development, you want to do your research on the land and the area around it.

2. Pay for land with cash if possible. This ensures your mortgage is only applied to the cost of the property itself. There are ways to buy the land and the mortgage and roll them into one loan.

3. Ask about septic tanks and/or sewer access. This is so important, particularly if you’re developing a commercial property.

You should be aware of everything before buying.

4. Check for restrictions and zoning issues. Even the smallest piece of property can have its own restrictions and zoning issues. If you're looking to build a particular style of home but it’s not allowed in your zone, that could be a problem.

5. Look for easements on the property. Is there another driveway coming through or something in the soil that needs to be addressed? You should be aware of everything before buying.

6. Ask about water issues. If access to water is important, you’ll want to know if it’s going to be a problem. Is your property outside the floodplain?

These are just a few of the things you need to think about when purchasing land. If you have any questions for us, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.