- May 18, 2016
- Posted by: Roger Walker
- Categories: How to invest, Real Estate Investment
The selection of land to build a house is one of the most important decisions of our lives, most people only acquires land to build his house during his lifetime.
Therefore I leave 12 key points for you to take into account before invest in land:
1) Search: Before performing this, it is important to consider what you want the land, if you want for a house for yourself or as an investment as this will depend on the location of the property you’re looking for amenities that you should have about, among others. It is important to have 2 or 3 options of land to buy; it is common that the desired option sometimes cannot be realized.
2) Professional advice: Investing in land can be very good as you if you know where to put your money your ROI can be very high. To ensure that our resources are invested wisely is imperative to have the assistance of someone who knows where to look and what questions to ask.
3) Characteristics of the buildings in the area: Carefully examine the area in which you are interested to make sure that the houses that they are close are of comparable value with which you want to build. The over-build or build below the standards of an area may have implications for the case of appraisals and values of properties.
4) Commercial value of the area: Check the cost of land against similar ones in the same area.
5) Environmental considerations: Consider how much traffic there is in place, if it is a new project, how fast it is developing, if they have building restrictions in some time (since you will not want to have construction workers all the time, in the where you live), capital gains, economic stability of the project, safety, proximity to restaurants, gyms, schools, etc.
6) Socio-environmental Considerations: When choosing a site must consider whether your neighbors have the same cultural, social and economic level you, if you convince the quality of life of people who will surround your family, do not hitches with a land, until you get the right one.
7) Roadways and transportation: Roadways are important to know the times required to reach our workplace, recreational areas, restaurants, schools, hospitals, etc.
8) Infrastructure and services available: Running water, sewers, electricity, phone line, TV cable, Internet cable, street lighting, streets, waste collection, pavement, are essential when making the decision to purchase land and not to possess the cost of implementing them. Many lots are sold without the basic services for a family home. In the case of not having any service, we need to know if the area is within the expansion plans of the companies providing and what the deadlines and expected costs for them are. Should be considered as part of the cost of land any expenses that represents bring public services to the property.
You may also like to read another article on Heygom: Where to invest money to generate income?
9) Orientation area: If the ground is in hot weather you should seek the guidance of the majority of the rooms remain located north and that the direction of the prevailing winds serve to refresh your home; if the ground is cold weather should seek guidance from the east to the south, looking for the direction of the prevailing winds do not cool your home.
10) location field: If the lot is within a subdivision, we must decide whether will be located at the beginning, the middle or end of this, corner or middle ground, since according to this will be the price of land. Almost always the best location of your land will be in a corner, as this architect will have two fronts to project vents and guidance of their rooms.
11) Commercial information: Before buying land must be known well the seller; i.e. it is a seller preferably recommended by someone.
12) Knowing regulations and building codes: You have to analyze the regulations of the urbanization of the area carefully. In general, municipalities, communes, etc., have specific rules regarding what are called land uses, building densities, heights of buildings, withdrawals, etc., which may seriously affect the project of construction or the quality of life we have in the future. It is desirable that after the decision to acquire know these regulations. You must know the restrictions codes before buying a property. Different areas of the same city may require dramatically different requirements. Codes can: set height restrictions that limit buildings to a single floor, which limit the architectural style or building materials that can be used, which require approval from residents in the neighborhood for the construction of each building, that determine the style of architecture, etc.
I hope moderate have given a better idea of some of the most important aspects to consider before making an investment in a batch.