Your investment into the purchase of a parcel of land may be a wise, sound investment. Land, after all, is in high demand in many areas of the world. Some people will purchase land purely with the intention of holding onto it with the expectation that its value will increase with time. Others, however, have the desire to develop the land in the near or distant future. Whatever your intentions are with regards to your upcoming land purchase, there are a few factors to keep in mind if you want to enjoy the most benefit from your purchase.
One key factor to consider when selecting a parcel of land to buy is its location. Some people will purchase a piece of land because its current location is ideal. It may feature great views, back up to a greenbelt or have some other desirable feature. However, you should consider how the development of nearby parcels of land may affect those benefits. Consider who owns the land close to that parcel, and take time to research if any future developments are in the works.
The Size and Shape of the Lot
You should review the size and shape of the lot in great detail as well. If you have plans to develop the lot at some point, factors like the slope of the land and its shape may affect your ability to build the desired home or other structure you want to build on the land. Keep in mind that it will be more costly to develop a parcel of land with a steep incline. Further, easements on the lot may affect the size of the structure you are able to build on the lot
Utilities and Access
Most parcels of land that are located close to urban areas or in a subdivision or estate developments will have functional access with developed roads as well as utilities in place. If you are buying a remote piece of land, however, you may be required to pay for utilities to be installed on the property. Further, you may need to have roads and other access points developed in order to reach the property. Some parcels of land may actually be land-locked, and this may require you to obtain an easement from a neighboring property in order to access the parcel of land you are considering buying.
Of course, you may want to select a lot or parcel of land based on the size and shape of trees, if it has a creek running through it or if it provides you with water access or scenic vistas. However, there are functional considerations that should be taken into account when you select a block of land as well. Take time to review these factors in detail, and make a decision that is ideal for your current and future plans with the property.
Before you start looking for a block of land for sale, make sure you consider your wants and needs. LWP Property can help you choose the perfect block, and they can also help you get started building your home with a house and land package in WA to suit you.