Much like before diving headfirst into unknown waters, you need to check the depth. The same thought applies when you’re thinking about buying land. Make sure you know what you’re diving into before you sign that bottom line. By performing the proper due diligence, you can better protect yourself and your financial future. In this post we share 5 Things You Need to Know Before Buying Land in Arizona.
Purchasing a piece of land is a significant financial transaction. You must take steps to ensure that you will see a healthy return on your investment, the long-term value dependent upon the physical location. Naturally, the intent for using the land must come into play. Professional sellers, like Southwest Land Deals, will make sure to post great photos, clear maps, and usable directions to help you get a solid idea of the placement of the property. If you can, you should physically walk the property and ensure there aren’t issues with the site that don’t show up in listings or photos, such as less than desirable smells, sights, or sounds in the surrounding environment. No matter why you’re buying real estate, Southwest Land Deals can help you assess the potential value in the future, which is an essential factor you need to know before buying land in Arizona.
Another thing you need to know before buying land in Arizona is if you will be able to use the land for the intended purpose without restriction. Zoning keeps property value high, with compatible uses of land organized in one area, such as the industrial zone, to maintain the general character of a given area. Zoning also prevents new development from interfering in the full use and enjoyment of previously existing properties. Often, zoning variances are granted based on lawful nonconforming use, so if the land you like isn’t zoned for your intended purpose, know that it can be changed. Just be ready to present your case.
3) Access Rights
Accessibility to the property from a public roadway doesn’t always exist, and this is a crucial factor you need to know before buying land in Arizona. Landlocked property, or land with no public right of way, brings with it difficulties that may affect your ability to use the property for the intended purpose. While it’s likely in your best interests to walk away from this piece of real estate, it’s possible to gain access rights. However, it has been the cause of feuds between neighboring property owners. Save time, money, and stress by working with a professional agent like those at Southwest Land Deals to help you avoid such issues.
The ability to attain any necessary permits for the development of the property is a legal point you need to know before buying land in Arizona. Suppose you’re hiring a general contractor to build. In addition to building permits, they may need to obtain permits for sewer, water, and even zoning permits may be needed along with others, including any special regulatory issues, such as being in a historic district. Working with experts like those at Southwest Land Deals makes it easier to help guide you through the process.
5) Your Finances
Consider any additional costs that may add up. Loans for raw land require more time and paperwork than conventional home mortgages. Your financial ability to see the project through completion is something you need to know before buying land in Arizona. Knowing all the numbers, you can garner the financing you need upfront, making the process as smooth and stress-free as possible for everyone involved. Investors like the professionals at Southwest Land Deals are familiar with the time and costs to develop Arizona land and are here to help you reach your goal.