Purchasing land is a significant investment that goes beyond simply selecting a plot of land. Various factors, such as location, zoning regulations, access to utilities, and future development potential, can greatly impact its value and usability. To help you make an informed decision, we’ve compiled essential tips on what to consider before buying land. Keep reading to learn more!
Walk the Line: Inspect the Property Thoroughly
Before purchasing land, it’s essential to physically walk the entire property, including its perimeter. This hands-on approach allows you to identify any potential issues that could affect your plans for the land.
Key factors to assess:
- Topography: Are there slopes, hills, or uneven terrain that could impact construction or drainage?
- Soil Quality: Not all soil is suitable for building. Conduct a soil test to determine if it can support a foundation.
- Water Drainage: Check for signs of poor drainage, such as standing water or erosion, which could cause problems later.
- Vegetation & Natural Features: Look for large rocks, dense tree coverage, or wetlands that may require clearing or special permits.
- Property Boundaries: Ensure that the land’s boundaries are clearly marked and free from encroachments.
Walking the land also helps you get a sense of the surrounding area, nearby properties, and any potential concerns, such as noisy neighbors or high-traffic roads. Taking the time to evaluate these factors before purchasing will help you avoid costly surprises in the future.
Research Zoning and Future Development Plans
Thorough research is crucial before investing in land. Understanding zoning laws and potential future developments will help you avoid unpleasant surprises that could limit your property’s use or affect its value.
Key Areas to Research:
- Zoning Regulations: Check local zoning laws to ensure the land is suitable for your intended use. Some areas may restrict building height, require specific property setbacks, or prohibit certain types of structures.
- Flood Zones & Environmental Restrictions: Verify whether the land is in a flood zone, wetlands, or has other environmental constraints that could affect construction or insurance costs.
- Permits & Building Codes: Determine what permits are required for development and whether any restrictions apply, such as environmental impact assessments or special building requirements.
Future Development & Infrastructure Plans:
- City Planning & Infrastructure Projects: Contact the local planning department to learn about upcoming developments, such as highways, railroads, or commercial zones, which could impact property value and quality of life.
- Public Services & Utilities: Check whether utilities like water, sewer, electricity, and internet are available or if they will need to be installed at an additional cost.
- Property Taxes & Assessments: Future infrastructure projects may increase property taxes. Speak with the local tax assessor to understand how upcoming developments could affect your long-term costs.
By researching zoning laws and future plans for the surrounding area, you can make an informed decision and ensure that your investment aligns with your long-term goals.
Survey & Title Search
You will want to have a property survey done as well as a full title search. Look for easements from utilities and landlocked properties. Is there a creek on the property? Does it flood? Anything that will keep you from building (if that’s your goal) should be looked into. Some areas have building restrictions because there are protected species in the area. Other areas restrict building due to sandy soil. Each area presents its own unique challenges that should be addressed before purchasing.
You will also want to make sure that the property has a clear title. This means there are no liens against the property and that the seller has the authority to sell the land free and clear.
Utility Check
If you plan on developing the land in any way, you will want to make sure utilities are available and easily accessible. Most developed areas are on municipal water. However, if your area is using septic you will want to have a perc test done, and calculate the costs to drill a well. Are there gas lines in the area, or will you solely be using electric? Will there be any additional cost to have utilities (including internet, cable electric or water) ran to the property? You want to find out these things beforehand, and not down the road.
Just like when you purchase a home, land should be purchased only after careful consideration and research. You should work with a land specialist such as PDX Home Buyers to ensure you are purchasing a property with no hidden surprises and that will meet all of your wishes & requirements for the land!