3 Tips for Buying Land Most First-Time Buyers Don’t Consider in Phoenix

Tips for Buying Land: Whether you are looking to purchase a piece of land as an investment or as a place to build your dream home, there are some things you must know before buying. Lands For You is a team of local land professionals.

In this blog post, we have put together some of our favorite tips for buying land.

Tip #1: Make A List of What You Want

Are you buying the land as an investment? Or as a recreational or building site for yourself? The land’s use will determine exactly the types of land you will want to focus on. A few things you should consider are:

  • Price. Undoubtedly, establishing a clear and well-defined price point is crucial in this endeavor. It might appear evident, yet the importance of setting a maximum budget and diligently adhering to it cannot be overstated. Whether embarking on a construction project or delving into real estate for investment, the utmost caution must be exercised to prevent the premature depletion of financial resources. For those eyeing an investment, possessing a comprehensive understanding of the precise purchasing cost that ensures a substantial future return is imperative. Thus, a resolute commitment to fiscal prudence is paramount, steadfastly refraining from straying beyond the predetermined budgetary confines.
  • Size. The dimension of the property warrants meticulous contemplation. While one’s initial inclination might be towards an extensive expanse, the attendant maintenance obligations can swiftly dampen this enthusiasm. A judicious assessment of the actual land requirements is indispensable. Opting for a more modest allotment, perhaps spanning only one or two acres, may align more harmoniously with practical needs and upkeep considerations. Conversely, the aspiration for an adequately spacious dwelling nestled within a generously proportioned yard may render an oversized lot exceedingly appealing, accommodating such aspirations with aplomb.
  • Dirt and trees : Delving beneath the surface, the quality of the soil emerges as a pivotal factor. The composition of the land’s earth, be it sandy or clay-laden, possesses the potential to exert a profound influence on the construction process and the cultivation prospects the property affords. Astute purchasers recognize that the very earth on which a structure stands can be determinative of its long-term stability and the scope of cultivation endeavors. Additionally, the presence of trees on the premises or a residence adorned with a specific hue holds undeniable allure for a multitude of prospective buyers, underscoring the multifaceted appeal that landscaping elements can confer.

Tip #2: Educate Yourself

There are many variables to consider when making a land purchase. Often times, there are many things people overlook. Buying land is about more than just location.

  • What type of access does the property have? Ideally, your land should be accessible via a road. However, if it’s not, you will need to ensure the proper easements are in place so that you may transverse another’s property to get to yours.
  • Does the property have a clear title? Liens and other encumbrances can cause a big headache if they aren’t dealt with before closing.
  • Zoning. Sure, your land might be zoned residential today, but what if there is a zoning change planned for the future? Make sure you know of any potential zoning changes so you don’t get stuck with land you can’t use.
  • What are comparable properties selling for? Do not go by what they are listed at, but rather the actual sales prices of some comparable lots.
  • Covenants are basically the rules of the land. If you want to have a small farm, the rules might say you cannot. Or if you want to build a three-story home, you might not be able to. Make sure you understand all the rules placed on the land by the local authorities.
  • You will want to make sure you understand your water rights. Let’s say you bought 2 acres for your small farm, but then you find out that you are only allowed to irrigate an eighth of it. You will have a lot of dried up farmland on your hands.

Tip #3: Work With A Pro

Tips for Buying Land

The process of buying and selling land is quite different from buying a home. Because a realtor might receive less commission when working with land, they typically don’t put in as much effort into understanding the variables. Working with a team of highly skilled professionals, such as the team at Lands For You, will help you make the best investment possible.

A land professional will help educate you on all the points above and make sure you find the best property possible when looking to buy land. Finding a Realtor who specializes in helping people buy land is a must. They can help answer any questions and help you find the perfect piece of land for YOUR needs.

Lands For You can help you whether you are looking to buy or sell land in the Phoenix area. Fill out this form, or give our office a call now to find out how we can help you! 602-806-7899