Many people opt to buy land for a number of reasons. Some people may choose to buy land to build a home on, while others may see buying acreage as an investment that they can sell several years later. If you are interested in buying land for the first time, it is important to be prepared and know what you are doing. The last thing that you want is to spend your hard-earned money on land that can be properly utilized the way you plan to use it. Use the following tips to help you purchase land.
Work with an Experienced Real Estate Agent
Purchasing land can be complicated, which is why it is in your best interest to hire an experienced real estate agent to assist you. When looking for a real estate agent, try to find one that specializes in land sales or is at least very familiar with it. Buying land is different than purchasing a single-family home in several ways, so you will want to work with a professional who is familiar with the entire process.
Find Out If the Land Is in a Flood Zone
It can be exciting to find a piece of land for sale that you love. However, before you make an offer on the land, it is essential to find out if the land is located in a flood zone. Purchasing land in a flood zone can be quite risky, and you may want to think twice before building. It can be devastating to have your home flooded after a severe storm in the area. In the event that you do opt to purchase land that is in a flood zone, it is important to note that you will want to purchase a flood insurance policy, which can be expensive.
Ask About Utility Access
If you're planning to build a home on the land that you buy, you will need to ask about access to utilities. Some land is already improved and includes electrical lines and access to municipal water and sewer services. In the event that a piece of land that you're interested in buying does not have access to utilities, you will need to be prepared to have a well drilled and a septic tank installed. Doing both of these things can cost tens of thousands of dollars, so make sure you account for these expenses before you make an offer on a piece of land.
To learn more or to buy land, contact a real estate agent.