Buying land in today’s economy is a sound investment. While the government and federal reserve can keep printing money (inflation) no one can make more land available for sale, there’s only a small amount left and when its gone, its gone! What happens when the land gets bought up? its value rises – supply and demand. Here’s a Top 5 list on things to look for before buying land!
5 – Is the Property Build-able?
Is the land flat? is it overgrown? could you build a home there if you wanted to? what about other buildings like horse stables, cattle sheds etc. There’s no point in buying land on a massive slope or rolling hills if your looking to build on. Also, check with your county to see if the land is zoned for residential. Most counties have all the information you would ever need to make a informed decision before buying the land of your dreams.
4 – Does the Land Have Water/Utilities?
Buying land in the desert, or the middle of no where offers some great deals but if it has no access to water it may need rethinking. You can drill a well almost anywhere these days, or even have water shipped in on a weekly/monthly basis. Always be sure to check the rules and regs for your county and whats the current status of utilities in the area, specifically water!
3 – Is the Land a Good Investment?
When buying land purely for investment purposes there are several things to take into account. The biggest being the current growth of the area. If your buying land in Nevada, 40 miles outside Las Vegas, with its current growth rate you can be sure that your land will be worth considerably more 10 years down the line where as buying land in somewhere like the Arizona desert miles from anywhere wouldn’t see quiet as high a return on your investment.
2 – Are There Any Restrictions on Your Land?
If your thinking about buying land for hunting or fishing, or maybe for agriculture, its essential to check with your county to see if there are any restrictions. Buying a piece of hunting land in Oregon only to find out there is a ban on hunting in that county for some reason would be a huge waste of time and money.
1 – Access, Access, Access
The absolute biggest thing to take into account when buying a piece of land for sale is its access. How do you get to the property, does it have paved roads? gravel? only accessible via a 4×4? Is the land close to a freeway or major road? is the property fenced or gated? you absolutely must check the access of a property before buying. One of the best ways to check a properties access is by using Google maps. look in satellite view, zoom right in and take your time scouring the area.