How to Buy Land in the Right Way
Buying a piece of land can be seen as investing in land and land as it is can be deceptively complicated when buying. In what way if you ask?
I remember way back a man had paid for an acre of land and durning the raining season he discovered that he had bought a flooded parcel of land.
Buying a land, you must be extra careful before spending money on any land which interest you to buy.
There can be a lot of uprising issues and problems lurking beneath the surface of any piece of land you are trying to buy.
I wouldn’t necessarily say all these issues are common, but the fact is – any one of these things could potentially be big deal if not addressed properly.
The most common fear in buying a land in most cases is land grabber fraud issues where the buyer had to face a lot of losses dealing with land grabbers.
I tell you now that there are many issues when buying a piece of land. However, land, if bought in the right way can be beneficial in many ways.
All the things which you must look into is been discussed here before purchasing a land.
What is the Topography of the Land?
When buying vacant land out-of-state, your first line of business is to understand the topography of the land.
There are many, many places around the world that have very unpredictable elevations, cliffs, mountains, valleys and more.
In many cases, the topography of the land can have a huge impact on the build-ability of a property.
For the same reasons you can’t build a house on 90-degree cliff, you should be doing some preliminary research to find out where your property is located, and what the lay of the land is.
One of the best ways to do this is by using Google Earth which is free.
With Google Earth, you can search for your property using the address and coordinates.
What are the Required Building Setbacks for drainage and roads?
Firstly, you will need to understand the exact sizes and dimensions of the parcel of land you are buying.
You need to ask about the setbacks for drainage and roads. This will enable you to understand plans for the area so that you don’t just start building anyhow.
I have come across many houses been cut in to half by the government about not leaving a certain dimension or setbacks before building. You won’t want to experience any government issues when matter of roads and setbacks arises.
Is the Property Located in a Flood Zone?
The earth is covered with about seventy five percent of water and twentyfive percent of sand.
I see a lot of people makes mistakes of buying a land filled with water.
Let’s look at Ajah, Lekki areas. Those places are water and flood zones or let’s say are places where water lives. In some countries, that parcels of land are vacant because they are literally under water because of flooding.
If a land is at risk of flooding or has a water log area – you’ll want to know about this before you buy because when a land or property is in a flood zone, it can be extremely expensive to maintain.
Lands located near a body of water can be extremely valuable, which is one of the reasons people refer to live at the island, but this close proximity can also create a number of potential issues… so you better be sure you understand the ramifications of your particular location before spending.
Does The Land Fall on Circular roads?
Why you must know about this is to be sure the land you are buying does’nt fall on a circular road.
Place like Pakuro going towards MOWE, falls under circular roads and people had built their houses on circular roads.
I bet it with you will want to find out about circular roads. The government might come up one day to dualize a particular area and before you could say anything you land or house might be under a government plan for roads, electricity drills, train tracks. So many people had fallen prey to circular issues.
To know if your land doesn’t fall under a circular road or government area just visit lands and town planning. They have all the land plan out.
Is the Property Landlocked (Are there any Easements or Access Roads to the Property)?
I have seen many houses and land that have no road access. They are surrounded on all sides by other property. I wonder why they think they don’t need roads… it’s just very funny!
So before you buy a land you will need to ask for access roads within each of land surronding you. Most land buyers don’t ask this road access and even if the ask there is a way land grabbers dogde the question but keep asking because from there you can spot a foul play.
You won’t want to buy land with no access roads. Some people don’t mind anyway! I have seen people build houses on a road to the next street.
What is the Size and Shape of the Parcel?
Size and shape of land comes in different sizes. You can read more about sizes here
I’ve seen a number of properties that are virtually useless due to their size and shape.
I remember on one occasion, I came across a parcel of land that was 5 feet wide and 5 feet long. I’ve also seen properties that were 9.5 feet by 10 feet so many properties like that. This can be caused by land grabbers!
But before buying land you need to be sure about the sizes they are offering. Depending on the states there are government standard sizes so be sure they are offering something close to the standard plot size.
What About Junks, Tires or Other Contaminants on the Property?
I have discovered that what I thought was a piece of vacant land, was actually a dumping area. Where people drop there junks of refuge.
If you’re going to buy a piece of land, make sure that all you’re getting is LAND and if anything else is coming along with the deal, make sure it’s something you actually want).
With these kinds of messes like junks can be very expensive to clean up, and as a way to avoid any unwanted surprises on this front, it’s always a good idea to actually see the property you’re purchasing.
Let’s Wrap here
I will be wrapping up with Things to know before making a purchase- To be on the safe side gather proper information regarding the land you are trying to buy from the legal titles; the history of the land; the documents you will need to proceed with the buying.
With keeping the above-information in mind you can make a step towards buying your dream land. However, the key is to do a lot of research before making any kind of big investment.
Adeyeye IfeOluwa is the owner of LandSprout.Com, a Web Design & Developer, Digital marketer, Real Estate Consultant, and Content developer.
Landsprout.com came with a passion to help you achieve wealth in real estate investment and solve the hassle within it.
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