Purchasing property is similar to purchasing in a home, in the fact that it’s a large investment that you’re buying into. That being said, there are generally a lot of questions that investors have before diving into a purchase. Here are some of the most common questions asked by land investors.
Is it complicated to invest in land?
The simple answer is, “no.” If you need some convincing as to how easy it is, check out our blog about it here.
What can this land be used for?
It’s a common question. First, find out how the land is zoned. The zoning is done by the county in which the land sits and that determines allowable uses. This is an important step in selecting your land since it can easily dictate which parcels fit with your land use goals. To understand a little more about zoning, read our Zoning Requirements blog, which shows you where to find the zoning on a property on our website as well as to understand the significance of your land’s zoning definition. Also, for some out-of-the-box thinking, check out our blog about “overlooked” ideas for vacant land.
Where do I find additional information about the area I want to invest in?
The county in which the land is located is your best resource during the research/due diligence portion of deciding on your investment. The county will be able to give you lots of insight into the area, its characteristics, weather patterns and low-lying areas, which could be prone to flooding. The easiest way to find the contact information for the particular county is by Googling “______ County, State.” This should bring up a number of county contacts and their various departments.
Are there utilities on my land?
Tips on getting electricity, natural gas, phone, running water and sewer to your prospective property can be found in our Researching Utilities page. It shows you how to determine if there already are utilities in the area (often there are if there are homes nearby), which utilities are available, and how to go about starting the process of bringing them to your new land. Along with this, you may find these two blogs helpful:
Can I see the property before I Invest?
Of course! We encourage our customers/investors to do their due diligence and research as much as possible about their potential investment. One of the ways to make sure that the land is right for you is to see it in person. Check out our blog on how to visit your potential investment here. And of course, don’t hesitate to call us s we can send you the directions and some plat maps of a property you’d like to see.
There is no address to the property, what does this mean?
When it comes to raw land, often a street address has not yet been assigned. Don’t fret! You are able to apply easily for a street address for the parcel you select. Learn how to from our 2014 blog post How to apply for a street address.