Whether you are renovating or building up a property from scratch, buying land is a great investment. You need to take special considerations into your future deal. We suggest five things to look for when you buy a plot of land.
1. Road Access
People tend to overlook this factor when they look for a plot of land to buy. Remember that legal, permanent, transferable access is specified in documents. In fact, you cannot assume that access is guaranteed if the property is on a provincial road or a planned town. In case that the right was not granted to the previous owner, you may have to get permission from the town or province.
2. Natural Hazards
There is no doubt that you need to obtain a natural hazard disclosure and check to know whether there are problems with the land or not.
If there is any risk of causing a landslide or you find it is too soft for building any sort of a structure, forget the idea of buying that land. There are many better choices for you.
3. Water, Sewer and Drainage
You should also check carefully water, sewer and drainage system before purchasing a plot of land. A lovely creek of running water on that dream property may appear to be beautiful but it’s important to check if you even have the right to use it or not. And an adequate sewerage system is also essential.
4. Easements Associated with the Land
Before you sign the contract to buy the land, don’t forget to research what easements other people might have on your future property and its surroundings. You may also want to make sure that easements are available to you in terms of power and telephone lines. One day, they could be very important to you.
5. Community Attitudes
Studying the area in which you plan to purchase property is also critical. It could have long-term effects on your personal contentment and happiness in the future. Try talking to residents in the area and find out what it might be like to live there one day. In fact, the answers you receive from locals could be the final deciding factors as to whether you purchase the land or not.