Buying land can be a complicated yet rewarding process. There’s much to be done with Florida vacant land, but owners must educate themselves before investing. Investors must consider factors like zoning, environmental concerns, and typography in their decision-making.
Benefits of Owning Land
When you buy land in Florida, there will be advantages as well as disadvantages. Advantages of buying land include land appreciation, portfolio diversification, protection from inflation, and the ability to use the land as collateral for loans. Business savvy owners should expect upfront costs, property maintenance cost, and be willing to invest the time required to get a return on their investment.
Before buying land, get familiar with Florida zoning laws. Contact the planning and zoning department assigned to the county the land of interest resides in. Counselors are available to provide information on the land classification, its appropriate use, and any special conditions associated with a parcel of land. This way you can determine if there are factors like easements that can restrict your use.
Are you aware of environmental issues in the area you want to purchase land in? We recommend obtaining an environmental audit through the Florida Department of Environmental Protection to identify any environmental hazards or contaminations. This is especially true if you plan to use the land for commercial use. This will save you liabilities and money.
Do you understand the land’s typography? The land surface area and features like hills, valleys, lakes, dams, roads, and rivers can impact its usability. Understanding typography can help determine factors like soil, water, erosion, weather patterns, and conservation. A great tool for assessing typography is through the use of a typographical map to get a better idea of the features of the land.
Again, there are many reasons to purchase land but interested owners must do their due diligence before embarking upon this worthwhile investment. Buying the right land will outweigh any disadvantages.