There are several benefits to investing in one of the many properties for sale in the Redding area, but before you jump to make the first available purchase you come across there are a number of things to take into consideration. Buying a piece of land is just as important as buying a house, which you surely wouldn’t do without careful thought and proper research. It also introduces a whole host of new factors and potential challenges to think about that you wouldn’t encounter when purchasing an already existing home. Here are a few basic, but significant, points to keep in mind.
One of the first decisions you must make is what purpose your new property will serve. It’s probably most common for people who are looking at land for sale to envision it as the place where their future home will be built, but there are other instances where some may want acreage for hunting or fishing or just to have a lucrative investment under their belt. Whatever your intentions are, they should be clear before trying to find a suitable piece of land.
Whether buying a house or buying property, one consideration that is always critical in real estate is location. Just because there’s a vacant area available doesn’t necessarily make it right for your needs. Location will ultimately determine resale value, your access to resources and how well you can meet your intended goals. If you’re constructing a home, how far away will you be from other people, and how easy will it be to get to and from school, the grocery store, etc? If it’s a business you’re building, how convenient will it be for your customers to reach you?
Restrictions and Ordinances
Typically, if you’re buying a home that’s already standing, you won’t have to worry about restrictions and ordinances. However, when negotiating a property sale there can be quite a few local and state regulations to learn about prior to starting any type of construction. Zoning laws regulate exactly what can be built in certain areas and on specific parcels of land. In addition, there may be other ordinances and covenants that restrict what a property can be used for or the level of standard that must be upheld by its owner.
Again, a lot of this will depend on location, but you must also think about how practical overall the land would be for you to purchase. Real estate is generally the largest investment one will make in their lifetime, so it’s a good idea to know ahead of time what you can expect before committing to a sale. This includes things like cost and availability of utilities, access to roads, possibility of being in a floodplain or potential for experiencing other natural hazards, land elevation and the sights, smells and sounds coming from nearby sources.
Land can be a worthwhile investment and a great alternative to buying a home that’s already built. If you’re looking to have a creative hand in designing your own home or business or are just interested in making a good long-term real estate deal, begin your Redding properties for sale search with an experienced agent.