Real Estate Investment 101: Getting Started

Information When Buying Some Land

If you are thinking of purchasing land, then you want to know what to look for and consider other aspects of land buying for a farm and ranch that can help you to choose the right piece of land for your needs. Here are some of the things that you want to consider:

Know the negatives of buying a flag lot – You may run into a flag lot for sale that seems like a very good deal. The price may be significantly lower than pieces of land that aren't flag lots. However, there will be reasons for that better price that you need to be aware of. A flag lot is a slender piece of land that's shape resembles that of a flag pole and this is where the name originates from. The thin and long part of the lot will go out to the street. This part is also generally shared by neighbors and can be so thin that only one car can drive down it at a time. While you may think getting such a good deal on land will allow you to build a home you can put more money into, there can be problems down the road. You may find yourself in disputes with the neighbors over the use of the land. You may also find that you have an extremely difficult time ever finding a buyer for your home in the future if it is built on a flag lot.

Watch out for flooding concerns – When you are looking at a piece of land to buy it is important for you to verify that it isn't in a flood zone by checking on a flood map. It is possible for a very small portion of a large piece of land to be in a flood zone and this may not affect you enough to cause you problems. In fact, it may be a reason you can get the land for a better price, as it will serve as something for you to negotiate the price with.

Make sure the land and soil meets all of your needs for it – In some areas you may need to make sure the ground is going to be fine to build on. Also, if you are planning on using the land for any type of growing, then you will also want to be sure that the soil is going to support this as well.