- Rule out that the land you’re interested in is located in contaminated areas or prone to major risks due to natural phenomena.
- Verify that the land’s zoning permits the construction of a home, as not all lands are suitable for this purpose.
If you’re one of those individuals looking to start a housing project from scratch and considering the acquisition of land, you’re probably aware of the benefits this option offers. In addition to advantages like lower prices and payment facilities, the space you’ll have can be organized and distributed according to your preferences, lifestyle, and needs. However, there are some points to consider to ensure that your investment is safe and profitable in the future. Here are some of them:
- Know the Area Before Closing the Deal: Before initiating the procedures to acquire land and deciding to build on it, it’s important to rule out whether the location is near factories that may cause contamination or garbage dumps. Also, check if it’s considered a high-risk area prone to flooding during hurricanes or major disruptions caused by earthquakes. Additionally, investigate if the area has good phone reception, WIFI coverage, and whether delivery applications reach there, especially if you plan to use these services frequently.
- Ensure the Legal Documents of the Land: It’s crucial to verify if the property title, measurements, and location match what’s written in the contract and deeds. Make sure the owner’s details are the same as the person selling the property. Confirm that the land’s zoning indeed has permission for the construction of a home, and ensure that these documents have the approval and seals from the Public Property Registry. If the place has pending mortgages or encumbrances, it’s best to discard it.
- Understand the Accessible Services: Although it might seem obvious, forgetting to confirm that the land has basic services such as drainage, drinking water connections, and electricity could complicate its construction and result in a greater loss of time and money.
- Consult with an Expert: Real estate agents can not only help you assess the feasibility of buying a particular piece of land but also make the process smoother and more straightforward. They can provide legal and fiscal advice, guide you on the most convenient loans, assist in negotiating with the owner to avoid unfavorable outcomes, and provide tools to determine the optimal time for the investment.
In conclusion, while buying land is one of the best bets for the future, it’s also a process that requires careful planning and organization for the investment to be genuinely profitable and provide security in the short and long term. If you still have doubts, it’s best to consult with experts who can guide you step by step and help you make the best decision to protect your heritage, ensuring its profitability and appreciation over time.
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Reference sources:
https://www.lamudi.com.mx/journal/lo-que-debes-de-saber-antes-de-comprar-un-terreno/