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Vital Considerations To Make When Buying Land

Aug 23, 2008
Buying land is an increasingly popular form of investment for many people. Naturally, as with many serious financial investments there is a great deal of research that is needed before poring funds in. Hopefully the following information will give investors the essential knowledge of how to succeed in the world of land buying.

The most important factor when buying any piece of land is its location. Whether the piece of land is in the countryside or in an urban settlement will mean the price varies greatly. For instance, a plot in the country may be susceptible to planning permission restrictions meaning that as an investment it could turn out to be a poor profit making opportunity. This usually means that land is cheaper in the countryside, although it is harder to develop. Of vital importance is to have an independent appraisal of any plot before buying.

Also important is to look at the surrounding area when thinking of buying land. For instance smell and ambient noise are likely to affect any development plans. Examples would be a plot near a water treatment plant or next to a major road; both these factors would definitely affect the achievable price once development has occurred.

Additionally there may be zoning issues that affect the development opportunities. Land that is zoned as greenbelt will not be suitable for investment as in most cases any building will be restricted, if allowed at all. This is why as an investor it is important to research any piece of land thoroughly to ascertain whether any legal barriers may prevent making a profit. As part of this extensive research a soil survey should be made, this can reveal much about the development opportunities of any piece of land.

An essential piece of information to consider before buying land is the existing routes and road access. This is important because a piece of land that has excellent road links will be more likely to achieve permission for development and new builds than a property that is in the middle of nowhere and only has a dirt track reaching it.

The amenities present at the plot should also be considered. Preferably a piece of land should be connected to both the electricity and water mains supply. This will not only make it more suitable for development, but will save a great deal of money, as having a plot connected privately can be extremely expensive.

If securing planning permission sounds like too much of a chore to be a quality investment opportunity there are many plots that are sold with planning permission already gained. While the price of land with planning permission will be greater, the risks related to the investment are far smaller. As with any investment however the risk reward balance is vital, normally the higher the risk, the greater the profit.

Understandably so many people are choosing to invest in land because the UK is heavily populated and as a result, housing projects are being built across the country. Speculating in land however is not without its risks, it is hoped though, that with a logical and methodical approach it will possible to secure a plot that has a high chance of making profits. This means taking into account location, zoning issues, transport links, the amenities present and the chances of securing planning permission. If all of these factors are researched and studied thoroughly it should be possible to become a successful land speculator.
About the Author
Real estate expert Thomas Pretty looks into the investment opportunities offered by the Scala Land Group and land speculation more generally.
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