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The Top 4 Tips for Developing Raw Land



The Top 4 Tips for Developing Raw Land

Buying raw land often requires a bigger downpayment than buying a traditional home. This downpayment is often going to be 20% to 50% more expensive, though you may only need a 10% downpayment.

Real estate investing is a big step that many people are scared to take. It can be very lucrative since property development has endless possibilities of paying you back and more.

If you are going to go into land investing, there are certain tips that you should know. These tips can help make buying raw land less overwhelming and unpredictable.

Keep reading to find out what you should know before developing raw land.

1) Be Prepared for Setbacks

If you are developing raw land, you should prepare yourself for potential setbacks. Land investment does not always go as planned and rarely goes without any problems coming up.

You may run into issues during development, such as finding toxic waste or structural problems. There may be boulders under the ground, or you may have costly repairs come up.

You want to make sure you are prepared so that drawbacks like these don’t catch you off guard.

2) Do Your Research

Before investing in an empty land, you need to investigate the area. You should walk around and survey the land development before you ever make your final decision.

Getting an in-person look at the land can help you to spot potential issues. You should look for hazardous waste and look at the boundaries of the property.

You should also conduct plenty of online and local research to find out more about the property. There may be details that can influence your final decision to make the purchase or not.

3) Determine the Total Cost

Land development is very different than buying a home. Rall land doesn’t just cost more upfront, it can cost more long term.

You need it to determine how much it will cost to do other things to the property besides buying it. This includes property surveys, getting permits, and engineering service fees.

4) Hire Professionals

If you have never bought empty land before, you may want to hire a professional. You may want to avoid this extra cost, but it can actually save you a lot of money and stress.

Real estate agents can help you understand the land and how valuable it could be. They can also help you do research to make sure there are no issues that can come up later on.

You should consider hiring other types of professionals to help you examine the land as well. If you want to sell your property, you can visit for professional help.

Developing Raw Land

If you are going to be developing Rall land, you may not know where to start. These tips should help you to tackle this project feeling more confident and less overwhelmed. Did you enjoy reading this article about land development? Keep reading to find other helpful real estate topics.


Buying Land For The First Time? 4 Mistakes To Avoid



Buying Land For The First Time? 4 Mistakes To Avoid

Whether planning to build commercial buildings, rentals, or your dream home, buying land can be exciting yet overwhelming. The buying process may seem easy and seamless, but it requires careful consideration to avoid making a lifetime mistake.

Land buying requires extensive research to find the best land rates and location that fits your needs. Unfortunately, many first-timers fail in this area, buying unproductive lands or areas with low security, and some even fall victim to fraud.

If you’re a first-timer looking to purchase land, here are four mistakes to avoid:

  • Skimping On Research

The first mistake many first-time land buyers make is skimping on research. You must conduct thorough research to understand the current market valuations and to make informed decisions.  Here are some of the reasons why research is crucial for your investment scheme:

  • Understand Market Value

One of the most important reasons why research is crucial is that it helps you understand whether or not you’re getting a fair price. It’ll help you understand the various factors affecting the land value too, such as the location and property age. From there, you can estimate the price and create a reasonable budget.

  • Choose The Best Location

The location of the land is crucial, especially when you have kids or when building rentals and commercial buildings. For one, you must choose land with access to roads, electricity, water, and other facilities, such as hospitals and schools. And researching will help you get the precise location that fits these needs.

  • Identify Potential Hazards

If the land you want to purchase faces significant concerns, like legal disputes and environmental problems, researching will help you spot it. You’ll find articles about such disagreements, and you can conclude to help you make informed decisions.

  • Understand Zoning And Land-Use Regulations

Land-use and zoning regulations dictate how you can use land in specific areas. There are areas where only commercial buildings are allowed, while others only allow residential ones. Therefore, researching will help you determine the best zone that suits your intentions.

  • Evaluate The Developer’s Credibility

Research helps you evaluate the seller’s credibility as well. You can check if they’re authorized operators with an operating license. Plus, you can examine if they have a good record by reading reviews from other clients. 

Generally, research will help you understand how to choose land for your home that suits your requirements to help you avoid costly mistakes and make sound decisions.

  • Underestimating Your Expenses

Another mistake most first-time land buyers make is underestimating their expenses. There’s more to buying land than making the downpayment for the real estate deal. There are other hidden costs associated with land buying, such as closing costs, land clearing or site preparations, utilities-associated costs, property taxes, and zoning fees. Understand your expenses and make reasonable adjustments to your budget to avoid surprises.

  • Not Hiring Qualified Professionals

As mentioned, buying land can be overwhelming, especially for first-time buyers. You need the proper documentation and know your way around the buying process, which is impossible if you’ve never purchased one.

Therefore, hiring qualified professionals is an excellent approach for better investments. They’ll help you with legal protection, property inspection, and expertise. Here’s a list of the experts you need to get your money’s worth:

  • Realtor: The law allows you to buy land yourself. But it’s not advisable for first-timers like you. Hire a real estate agent as they better understand the market, have access to the off-book listings, negotiation skills, and legal access. 
  • Real estate attorney: You can buy land without an attorney too, yet you’ll need one for legal advice, dispute resolution, and contract review.
  • Environmental Consultant: When buying land in areas that have environmental concerns due to industrial activities, it’s crucial to have an environmental consultant inspect them before buying for compliance with applicable regulations.
  • Surveyor: A surveyor will help you determine land boundaries when they’re unclear. Further, they’ll prepare a survey document you can use once you purchase the land.

These professionals will help you avoid the common mistakes, and pitfalls investors fall into when buying land. However, the expertise you need will depend on the purpose of the land. For instance, you may need an architect if you plan to erect a building, but you won’t need one for an irrigation scheme.

  • Visiting The Site Only Once

Another major mistake first-timers make when buying land is conducting a single site visit. One visit isn’t enough to assure you about the land’s condition. Ensure you revisit the land several times to gather information about the location and the utilities available in the area.

In addition, several visits will allow you to interact with the neighbors who can offer insider insights to help you negotiate better deals. They’re likely to know the owner, and such information will keep you safe from fraudsters.

Conclusion Generally, purchasing land for the first time can be daunting, especially when you don’t hire experienced professionals. It’s vital to research adequately to avoid making the common mistakes many first-timers make. Follow the guidelines highlighted in this discussion to make sound decisions and avoid unnecessary costs.

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