The cost of land can vary widely from one location to another. However, acreage is generally cheaper in areas away from town or developed communities. Read on to find out how you can buy land with less stress.
Many reasons lead to buying land. For example, if you want to build your home to reflect your specifications, the best way is to acquire a lot. If you’re in Australia, you can consult a company that deals with land for sale in Townsville.
Renting land before buying
If you intend to buy land in an area that is unfamiliar to you, it is advisable to start by renting a house. For example, if you would like to buy new land in Australia, you can rent a house in the area so that you can get acquainted with the area before you buy the property.
Besides, by living closer, you can get first-hand information about the area that you might not hear when you show up one day. Owing to a smaller number of potential buyers, the resale value of land is often lower in rural areas.
If you’re considering buying a piece of land, here are important points that you need to know:
Zoning requirements
Before you buy new land in any given location, it is advisable to consult relevant city, country, or state authorities about the zoning regulations. This could help you determine whether the zoning regulations enable you to build the type of house you have in mind.
Each area has regulations based on acreage and other considerations. It is also important to inquire about regulations regarding future developments such as the creation of shopping centers, airports, or any additional development that affects the value of your land.
Consider sights, smells, and sounds
The desire to consider the master plan of the area should not override the situation on the ground. For example, you can end up buying land in an area with exhaust fumes from nearby industries. Similarly, you might realize that the area is next to a pig or poultry farm that makes noise and disturbs your peace. Verify the situation on the ground to ensure that everything meets your expectation before you buy.
Consider natural hazards
When considering land for sale, it is advisable to know the natural conditions of the place, such as soil structure or climatic conditions. For example, some areas contain hazardous elements such as naturally occurring asbestos.
Besides, it is also essential to consider the elevation of the land. Find out if the property is hilly or sloppy in a manner that can be dangerous to settlement.
Consider utilities
Utilities such as water or electricity are essential for any settlement venture. However, not all places have utilities. For example, if the area in which you intend to buy land has no reliable source of water, you have to consider drilling a borehole. Consult relevant authorities to determine the water table and confirm any difficulty in drilling.
In addition to the mentioned factors, you need to consider appraisals and easements on your list.
