Investing in a piece of land for business or residential purposes is a huge spend. That’s why each step needs to be properly thought out. This will help you avoid mishaps, unexpected problems, and unnecessary costs. From the choice of land to the blueprints to the actual construction, each step should be classified as a priority. To get you started on the right foot, we’ve gathered some things you need to know to get the best property investment. Take our list as a reference before you start building the business or home of your dreams; and, whether the land is in Utah or Los Angeles, or don’t forget to consult with a property survey for expert advice.
1. Consider the area
Before buying the land you were offered or originally wanted, you first have to find out the basic amenities available in the area. For instance, if the land is yet to be developed, find out if there are there already water or sewer provisions? Also, make sure that there is electricity, internet and phone coverage in the area. If you need cable TV, make sure there’s also reception for that. It would also be wise to choose a location that has services like a hospital or clinic, a food market, and the like within easy-enough access to the property.
2. Check Proximity of Roads, Buildings and Highways
Once you’re sure your chosen piece of land has access to basic services, you will need to make sure that it’s accessible. This will be highly important if you plan to build your home and even more important if you intend the property for business purposes. Also, find out if there are plans for a development to come up around the property. If so, get yourself a copy of its restrictive covenants. This is where you’ll get info like the maximum house or building size as well as other limitations. You should also ask the local leaders if there are zoning changes intended for your planned lot in the near future. If your area is close to a road, you may want to ask if there will be widening projects in connection with this.
3. Verify if Demolition is Necessary
If there is already some kind of structure on the lot that you want, you may end up wanting to demolish it. There are actually a couple of approaches that you can take: you can choose to get the job done by mechanical demolition or by a demolition team that can do it by hand. Mechanical demolition is suggested for large-scale buildings because this will do the work more quickly and more efficiently. A small team is fit for smaller projects but will take some time. You may also want to take an expert with you so they can analyze whether the full building or only a portion of it needs to be taken down.
Now that you know the basics of looking for a land, you can ponder whether that land you’re eyeing meets your needs.