Feasibility Studies and Why You Need One For Your Arizona Land

Let’s say you plan to invest in and develop a great real estate project, making your next step: looking into Feasibility Studies. Hear us out. As much as we’re sure you’ve given your venture lots of time, energy, and forethought, we highly recommend taking this extra precaution to make sure what you’re dreaming of, will provide the best results on a return on the investment. Consider it all part of your due diligence when buying real estate. In this post, we explore feasibility studies and why you need one for your Arizona land. 

What Exactly is a Feasibility Study?

In its most condensed form, Feasibility studies are an analysis used to consider economic, technical, demographic, and organizational capacity of an idea. Basically, it will evaluate a number of factors and tell you if your business plan is worth getting off the ground. And once you have a basic feasibility study, you’ll know what you’ll need to follow up and obtain permits for your plans. If you are not sure a piece of Arizona land is suited to your goal, this study will give you a good idea of what is legally possible and enough information to know that you can proceed when you are ready. Feasibility studies are also necessary because you can anticipate your funding needs, and you will know if the investment makes economic sense in that you will be able to realize the highest return on your Arizona land.

Types of Feasibility Studies

While basic Feasibility studies will give you an overall picture of your project, there are a variety of more specific analyses you can use to look as a certain area of your development. These include:

  • Technical Feasibility: focuses on the technical resources available, including the hardware, software, and other technical requirements needed for the project
  • Economic Feasibility: a cost/ benefits analysis of the project
  • Legal Feasibility: makes sure the proposed project meets legal requirements, such as zoning laws, data protection acts, or social media laws
  • Operational Feasibility: looks at whether the organization’s needs can be met by completing the project, and moreover, how successful the project will be in meeting those goals
  • Scheduling Feasibility: estimates how much time the project will take to complete

If you are ready to invest in Arizona land, the seasoned experts at Southwest Land Deals can help you understand all there is to know about feasibility studies. When you work with the team at Southwest Land Deals, you can trust their experience, expertise, and insight to lead the way to successful Arizona land investment. Our passion is helping buyers find the land that will best meet their goals. Find out the difference it can make by working with the team at Southwest Land Deals and our network of the industry’s most sought-after professionals who are also your neighbors here in Arizona. Call Southwest Land Deals at 480-442-7787.

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