Questions you should Ask before Purchasing Land
Dated: June 14 2021
With the current market being the way it is, many buyers are now leaning towards land listings. The cost of homes in the area have been increasing because of the seller’s market. Some buyers in the Prescott area have been more inclined to purchase land listings and build their desired homes from scratch.
Before purchasing land, there are some very important factors that should be considered before buying. Here are some questions you should ask yourself or an expert before purchasing land:
Road access. In every property you purchase, it is always important to have legal road rights to and from the property. Without any road access, the piece of land would be deemed useless and non-profitable since there would be no way to get to the property. This is one of the most important aspects in purchasing land, especially in Prescott.
Profitability. Let’s face it, purchasing real estate is all about profitability. Most real estate buyers are investors who flip houses or land and wait until the market prices skyrocket and then sell. However, in order for properties to be profitable they must have certain characteristics such as access to utilities, a great location, and have little to no environmental risks.
Environmental risks. One of the many problems that both sellers and buyers experience in America is the risk of environmental factors putting a damper on their investment. Such environmental factors include flood zones, and land in slope areas where landslides can likely occur. Which is why when purchasing land, you will need to be aware if the area is in a flood zone or a landslide zone. This is extremely important in any real estate purchase.
Utilities. Another important factor in purchasing land that most buyers check are the utilities. They need to know if electricity, water, and septic systems are accessible and can easily be installed. Once a piece of land has a septic system and a well in place, then that’s a sure winner. For sure, that land will have many offers and possible bidding wars.
Land Zoning. It is quite important to know whether the land you’re purchasing is zoned or not. There are different types of land zoning such as residential, agricultural, commercial, and green belt. Knowing the zoning restrictions of the land will help you in any case that the property needs to be rezoned. Being aware of the restrictions will help you in the building process if you do decide to build on the land.
One thing is for sure, we at The Stephanie Woods Team have the accurate information to give our clients regarding their choice of purchasing land in the Prescott area. Land in Prescott is very hot and trending these days, which is why you should jump on the bandwagon. We value your choice in real estate, and we can surely give you the best advice with your best interest in mind. Our agents service not only the Prescott area but all of Yavapai County, Arizona including the Verde Valley. Please feel free to check out our online Google reviews.
Stephanie Woods is happy to have her team help with all of your real estate needs. We can also locate and interview a qualified agent in another state to make sure you are getting the qualified agent you desire for your new purchase or sale. Stephanie Woods has a large referral network she works with that exudes excellent customer service. Call us today as we look forward to servicing your real estate needs. The Stephanie Woods Team at Woods Hometown Realty, 928-237-4455 prescottazhomefinder.com.