10 DEVELOPMENT GUIDELINES FOR RAW LAND

1. 10 DEVELOPMENT GUIDELINES FOR RAW LAND Standing on your own private land and experiencing the earth sifting through your fingertips gives you a sense of pride, independence, and security as you examine your personal property. You own property! Aside from pride, there are numerous compelling reasons to purchase undeveloped property. One of them is the cost. Across the country, you can locate moderately priced raw land tracts. This is especially true in rural, sparsely inhabited places.

2. MAKE A LAND PLAN You have decided to buy some raw land, but what will you do with it once you have it? Do you want to start raising cattle? Building your ideal home? Is it suitable as a retirement investment? Or do you want to build it so you can quit your day job? Before you begin the purchasing process, you should decide how you intend to use the raw land and when you intend to purchase it. A little forethought will assist you in selecting the parcel that is best suited to your stated objective. For example, land purchased for hunting would necessitate the presence of sufficient animals in the vicinity.

3. RECOGNIZE THE DISADVANTAGES Although investing in undeveloped land might be profitable, there can also be drawbacks. Buying raw land is regarded as a long- term, illiquid investment. Even if you start building it right away, it may be a long time before you see any returns. Selling it quickly is rarely an option. There is also the possibility of losing money on raw land selling. This is especially true if you make a poor selection or fail to completely assess the parcel. Unexpected circumstances, such as a slowing economy, might also have an impact on your sales price and how quickly you can sell it.

4. CONSIDERATIONS OF FACTORS THAT AFFECT THE VALUE Sometimes, it gets tough to determine the value since there are some factors that affect the value. An unusual, shaped land that makes development difficult can be a disadvantage. So, you need to pay close attention to the actual size, shape, width, and depth of the property you are considering. A primary consideration is location. Corner properties with convenient access to roadways and parking are excellent development options. When deciding where to buy raw land, make sure you have easy access to drainage, drinking water, natural gas, electricity, and phone service.

5. BE READY FOR POTENTIAL ISSUES The bare soil may appear attractive but seek for problems that literally conceal beneath the surface. Potential issues include burying toxic waste in leaking underground storage tanks, ageing wells and septic systems, subterranean pipes, and cemeteries. And, while you may see the rocks that need to be removed above ground, you may not notice the massive boulders lurking below that could prevent you from constructing a basement for your new home.

6. Contact Us Suite 1, 1 Cook Drive, Pakenham Vic 3810 reception@thecompanyre.com.au 03 5918 4315 Content Resource https://thecompanyre.com.au/10- development-guidelines-for-raw-land/