Owning Rural Property Can Be Appealing to Land Buyers With a Seemingly Straightforward Process.
But, anyone will tell you that if you want to buy recreational land, there are several things you’ll want to keep in consideration to ensure you are making the most well-informed purchase possible.
We’ve put together a list of 5 tips when buying recreational land to help you avoid making any costly mistakes.
1. Have Answers
Before you even begin searching for recreational land, there are a few basic questions you’ll want to ask yourself to help narrow down your options. Here is a list of some critical aspects of your land to consider:
- How much can you afford?
- How much land do you need?
- How do you plan on using the land?
Although these might seem like basic questions, it can be surprising to find out how many land buyers don’t have these answers at the beginning of the process. It’s essential to go into your purchase with a good idea of what you can afford and how you plan on using your land.
Some of the most popular purposes behind purchasing recreational land include using it for camping, hunting, wildlife conservation and preservation, and ATV and motorcycle riding. The opportunities are nearly endless, but the most exciting is that it is entirely up to you.
2. Be Patient
Once you’ve decided to buy recreational land, you will likely be eager to make and complete the purchase right away. We’re here to tell you that this process is likely to take much longer than you might initially anticipate. While you might consider this a burden initially, try your best to remember that this will be a significant financial transaction that you should not rush into.
“The idea is to find a piece of land that checks all of your boxes, which might take months, depending on your circumstances. You can help expedite the process tremendously by having answers to all of your critical questions, therefore quickly eliminating any unqualified contending pieces of land.” – Corey Tyner, DC Land Buyer Consultant
3. Don’t Overpay
While this might seem obvious, you always want to make sure you are not overpaying for any of your purchases as a land buyer. By working with a qualified land agent, together, you can conduct the proper research on the land before committing to purchase.
Your research should include not only details about one specific plot of land but also other nearby parcels. You’ll also want to work with your agent to determine the potential appreciation value of the land you are looking at.
4. Check Legalities
An easement is the legal access to the property and is not always included in the deed. As you can imagine, this is a critical step you’ll want to find out early on. Often, you’ll find that easements are more common in situations where the land you are looking at is between two other property lines.
Depending on the location of your land and what you intend on doing with it, you might also need to add infrastructure or utilities. You’ll want to work closely with your agent to determine the legality of these additions as well as the potential costs associated.
5. Do Your Homework
Last but definitely not least, you always want to make sure you are doing your homework when buying recreational land. Once you’ve narrowed down your options, you’ll want to work with your agent to thoroughly complete background research on the land as well as future potential.
But it doesn’t just stop with the research. Your homework also includes visiting the land multiple times. Here are a few key elements worth researching recreational land:
- Environmental testing
- Zoning requirements
- Land draining
- Soil quality
Once again, having a clear indication of your intentions with the land will help you better determine what type of research you will need to complete before even considering submitting an offer.
Make the Best Purchase of Recreational Land
When it comes time to buy recreational land, it can be an exciting time for land buyers. But, with so many technicalities, it can begin to get confusing. You want to make sure you are making a purchase that makes sense for you. Following these 5 tips when buying recreational land will help you to make the most informed purchase possible.