A Multi-Family Home

Tips For First-Time Land Buyers: Three Things To Consider

by Arnold Gomez

When you're in the market for new property, it's important that you know not only what you're looking for, but what details are important to consider. Here's a look at a few tips to help you find the perfect property for whatever your plans are.

Know Your Boundaries

Before you make an offer on any property, make sure that you know where the boundaries are. Look for a current land survey on file, and have the seller show you the boundaries. Consider marking the corners with flags so that you know clearly where they are. This step is important, because it not only allows you to validate where the boundary lines are and how large the plot of land is, but it also helps you to put it into perspective.

Understand Your Limitations

Look into the regulations associated with each plot of land you look at. You'll want to be sure that the land area is zoned appropriately for whatever you're planning to do with it. To check this, talk with the local assessor. The assessor can tell you not only what's permissible on the land but also the current tax rate for the property.

You should also consider the condition of the land and how it applies to what you want to do. If you're going to build, make sure you have buildable land. Don't invest in something that's rated as a flood risk or something that's at risk of serious erosion if you want to build on it. Additionally, you should check with the local utility services to be sure that you can get sewer, electrical and water set up on the property.

Consider Your Access

One common mistake that first-time land buyers make is not ensuring that there is legal access to the land. The last thing you want to do is buy a piece of property only to find out that the only road to the property is owned by someone else who won't give you an easement for access. In fact, some banks won't even allow you a loan to buy land that you cannot access.

Now that you understand some of the key things you should consider, you'll be in a better position to choose the land that's going to be the best fit for your needs. Talk with a real estate agent or broker, like the ones at Adobe Homes Florida, to help you find the right land for your plans.