Investing in Vacant Land

land

Buying land seems like an investment full of opportunities. While there are many benefits that can come from owning property, there are several items to consider before purchasing. The view might be nice, but a little investigating can reveal any unwanted issues.   

Visit the Land 

First things first – make a trip out and see the land for yourself.  A seller will be as thorough as they can in their description, but many details important to you may be left out.  It’s important you don’t just take their word for it.  This is especially important should you have a specific use for the property in mind. The only way to know for certain is by actually walking around the land yourself.  This will allow you access to its features, terrain, and issues. 

While on location, it’s important to take notes and pictures about how you envision the land working within your plan.  Does it lie in a flood zone or have sharp hills? Is there rough terrain? Any hurdles that would make developing difficult should be noted and accounted for. If your plan is to create a residential area, are there issues that would make living on the land difficult? What is it near? What school system is it zoned for? These questions and others will be better answered by being present.

Get a Professional Survey

Visiting the property and carefully studying the seller’s description will give you a great deal of information about the land you hope to purchase. You don’t need to stop there though! You will want to have a professional land surveyor come to survey the land. 

Surveyors offer a variety of services, but the one you need will be dependent on your plans for the property. After explaining the vision for the land to your surveyor, they will suggest which type of survey to move forward with. For example, if you plan to divide the property into smaller pieces, a subdivision survey would be what you need. 

A typical survey survey will include a depiction of the legal boundaries, any improvements, easements, rights-of-way and encroachments that might exist. 

Having a professional survey done should give you full knowledge of the property and make you aware of any issues that might be present.  It will also help provide a full understanding of any regulations in the specific area.

No matter the reason you are purchasing property, you want to know what you are committing to before signing on the dotted line. The best way to do this is by visiting and having a professional survey done. 

If you need help with any type of land survey, give us a call and we would be happy to help.