Buying New Land? Do These 2 Things Before You Make The Purchase

If you are purchasing new land, it is important that you be patient and do your homework before you make the purchase. The last thing you want to have happen is to sign on the dotted line and then find the land is not good for you. Keep reading for two things so you will know if you should buy the land or look elsewhere.

Have It Appraised

Hire a land appraiser to have the land appraised. The appraiser will determine the value of the land you are buying. This will prevent you from overpaying for something to help you save money. 

The appraiser will also inspect the land for any properties that may be on it. This is especially important if you are buying a lot of acreage. There could be something built that you are not aware of. 

The land appraiser will determine if the land is ready to build on or if it will need a lot of work before you can use the land. The quality of the land is important especially if you are buying the land for a farm. You also need to know where the existing utility lines are located so you will not cause damage if you plan to build a structure on the land.

When the appraiser is finished, they will give you a report showing the estimated value of the land. 

Check Land Restrictions

The land you are buying could have restrictions that you need to be aware of. The previous owners can put restrictions on the land and then you have to adhere to these restrictions after your purchase. Some restrictions will last for a certain period of time and others will be set to last the entire time you own the land. 

There may be restrictions on how you can use the land. You may be limited on how many driveways you can have if you plan to build a home or even the size of the home itself and how many bedrooms you can have.  

You do not want to be handed a list of deed restrictions that you were not aware of as this may change your mind on if you purchase the land or not. You can find if there are any restrictions from your real estate agent.

The land appraiser you hire and your real estate agent are the two most important people for you to have on your side. Contact a company that offers property survey services to learn more.

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