There are many different reasons why people choose to buy land, but one of the main appealing factors is that it presents a blank canvas for you to work on. It may be that you are choosing to build a home of your own from scratch or you need the space to look after livestock. Whatever the reason, there are a number of factors that you will want to consider before making this big and important step. Here are a few of the main ones to give you a helping hand.
Location, Location, Location
So, let’s start by going back to the first principle of buying land – location is everything. To start off with, if you are planning to buy land to start a business, there is no point getting it in an undesirable location as you customers will never be able to find it. If you are planning to buy some land for animals, you need to make sure you have done your research that it can be used for your purposes and you may need info about the horse ranch if this is the path you are going down. If you are planning to build a home, there is absolutely no point getting somewhere that it is impossible to get the planning permission that you require.
Do Your Research on Costings
Beyond the actual cost of the land itself, you will also need to do your research with regards to what else you will be spending. A land survey is one of the first things that you may need so you can chart out the boundaries of your property and make sure you are able to do what you want with your land. Building costs are also likely to be a major factor and there is no point maxing out your budget on your land only to find out that there is not enough left over to do what you want to do.
Consider the Utilities
It is particularly important if you are buying land in a remote location that you know how you are going to obtain all the basic utilities that you need. Electricity, gas, a phone line and WiFi are all things that you will want to think about before you take the plunge and actually invest in the land. You may bypass all this be investing in land that already has these features, but if it doesn’t, this is another cost that you will have to add to the list.
Again, this is another one that may become an issue if you are investing in land that is more remote and not easily accessible. Some rural land may only be reached by private access which could end up causing a number of issues. A public road will guarantee access at all times but you may need to enter some sort of easement arrangement with neighbours if you need to guarantee access via a private road that enters their land.