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Land Selection Factors

Land Selection Factors

Should you be looking to buy land, there are many important areas to consider.

What's the tariff of the land? Easily pay $1,000,000 for 10 acres to create a shopping mall does that cost fit within my budget? Or is $500,000 probably the most I can pay and get a prosperous project?

Does the location work for the intended use? For example if someone is trying to build convenient store could be the site in a high traffic area? Or maybe if someone really wants to build expensive homes could be the location suitable for billion dollar homes or perhaps is it too near to commercial uses?

What jurisdiction could be the land positioned in? The town Limits? Could it be inside the Extra Territorial Jurisdiction (ETJ) of the City? Would it be within the County? The jurisdiction the residence is situated in will dictate which rules and regulations should be followed. It might be advantageous to be in a particular jurisdiction (City A vs City B) instead of another. There could also be state and federal laws which will impact the property too.

If the property owner within the City, what is the zoning category used on the exact property? The zoning category dictates the land use allowed on the property. If your property doesn't always have zoning or maybe a zoning change is usually to be requested then that will improve the time and cost. Something to make note of is the fact that zoning change requests aren't always approved.

Deed restrictions are private agreements and restrictions specific to the land involved. These are noted inside the deed, and restrict the use of the real estate in some manner. Deed restrictions can be attached to property whether it's zoned residential or commercial and therefore are as well as local, state and federal rules. Deed restrictions may be smaller than other governing rules.

Have utilities been extended for the site? Utilities includes water, wastewater, electricity, gas main, telephone, and cable tv. Water is an essential. Water and wastewater are normally the most expensive utilities to supply with a property. There are other techniques for getting water service for example drilling a nicely and wastewater setting up a septic system. However, these solutions also involve ongoing maintenance as well as a limited lifespan.

Is any portion of the property in the floodplain? If that's the case then the build-able or develop-able portion of the property will be reduced. This in turn typically will decrease the value of the property.

Which are the topographic conditions in the land? Would it be flat or perhaps is there slope to the land? Greater steep the slope the harder it will cost to build up the land as a result of necessary cutting and filling from the soil. Normally flat land is preferred although a hillside area for a house or office can provide a very nice view.

Will there be roadway access to the property? If so can there be a pre-existing driveway and curb decline in place or will this have to be permitted and constructed? How likely do a permit can be obtained with this location or possibly there already a driveway nearby which might diminish the possibilities? May be the roadway in a condition of disrepair? If you do then which are the chances that this roadway will probably be repaired and exactly how might this affect my planned use?

An easement is a right in law to utilize another's land to get a specific purpose. Cautious easements on the property that might restrict or otherwise not unduly affect my capability to increase the property? Instances of easements include public utility easements which enable utility providers to put in and maintain utilities. Easements can even be the means of providing use of properties that don't otherwise have roadway frontage.

A lien is an encumbrance on a single person's property to have a debt the exact property owner owes to a different person. Before purchasing property it is very important determine from the Title Search and Commitment process if you have a superb lien about the property. It is advisable to have the home owner manage liens ahead of the buyer closes on the property which is much easier to leverage a lien hitting theaters.
Are you considering a land purchase? Do you know the information about the home? What happens to find, what things to stay away from, what things to get with all the land by collecting it?

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