People generally buy land for two reasons; to build a home for their family or for investment purposes. This week’s Gratia Group Land Investor Blog highlights the differences between these two main types of land buyers.
Buyers of land for the purpose of building a home actually require a bit more work than buying for investment purposes. Many investors will never even set foot on their purchased land, while buyers looking for a home lot will be buying a piece of land that many will reside on for the rest of their lives.
Check with local authorities (city, county and state) to determine zoning ordinances and whether you can build the type of home you want before committing to buying available land for sale. Ask about future zoning, whether there are plans to put in shopping centers or airports, or to change nearby land uses that could also devalue your land and cause future headaches.
Buyers that are looking for purchase land or lots for sale for investment purchases will want to look for parcels that are being sold low prices in communities and areas that are currently seeing an increase in their local real estate markets. Look for properties that will increase ROI when you choose to sell in the future. Consider buying parcel packages that include 3-5 lots in hot areas.
To learn more about purchasing land for home building or investment purposes contact a member of the Gratia Group land sales team at (239) 333-2221.