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Real Estate: Lot Is Where Your Money Is And Not The Home

Aug 4, 2008
Your house is the roof over your head, the structure that protects you from the elements, a safe haven and a canvas to display your personal style. Often times, the structure overshadows the importance of the actual lot it is built on. However, the ground beneath your home provides you with more financial security than the home itself. In fact, in many places it is more expensive than the structure on it. So, when you are searching for real estate, remember that it is a huge part of the package.

Remember the famous 1889 photo of settlers on horses, in wagons and on foot racing for a plot of land in Oklahoma? The desire for their own piece of real estate to build on and farm on it; drew people not only from the East coast, but also immigrants from across the ocean. It was so important that, people were killed for their claim before it was officially staked out. Land was the American Dream. It still is, but unfortunately there are no more free giveaways. Actually, land is at a premium because it is a finite resource. Now, instead of holding land runs, the government is preserving more and more land, keeping it in its natural state and protecting the resources of the land. This is not a bad thing, but it does increases the value of the lot you live on.

When shopping for a home, pay close attention to the lot size, the landscape and the soil. Real estate encompasses the land, the house and everything within the property line. In that case, shouldn't the lot be just as important as the house? The house is just a temporary fixture anyway. It can be torn down, destroyed in a fire or ripped apart by a tornado, but what is left? The lot- the land will always be there for you to rebuild.

Now, there are some regulations and restrictions that go hand in hand with land ownership. So, when buying real estate, inquire about the history of the lot- what it has been used for, what's been built on it or underneath it before you buy. A title search is also done before closing to make sure there are no obstacles or claims to the lot from the previous owner to hinder your purchase. Before you do anything to your lot, you usually have to get a building permit, depending on the zoning laws in your area. There may also be restrictions on what you can do with the lot. For example, raising livestock or having certain farm animals might be prohibited.

You may be unable to do whatever you want on your piece of real estate, but you can certainly take pride in being a land owner. It doesn't matter how big the lot is- whether it is 5 acres or a patch of grass outside your back door- it is all yours. You are living the American Dream and you don't have to ride a horse or get all dusty for it.
About the Author
Hendersonville NC real estate emphasizes the importance of real estate lot rather than the house built on that. Visit the professionals at Preferred Real Estate Center, http://www.preferredrealestatecenter.com and learn the tips when buying a real estate property.
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