Land is one of the greatest achievements in most people’s life plans. With this in mind, we will all want to make the right decisions when making a purchase.
Below are three things investors should consider when buying land.
Documentation.
Always make sure when shortlisting the property you are interested in you inquire about documentation, in this case, the title deed. After confirming the land has a title deed, the next step should be asking for a copy and conducting a search. Upon verifying the legitimacy, you can proceed to the paperwork that is the agreement with terms of
purchase and transfer upon payment completion
Location
Land does not depreciate. Instead, it adds value over time, but we ought to invest in a location or area that has proven growth and appreciation over time, depending on the use or how o want to utilize our property, be it commercial, residential or speculation. Make sure you have better insights into the area by doing a physical visit.
Budget
Budget is one of the overlooked things by most investors while buying land. Most people have an image of an ideal place to invest in,, but they don’t consider that price goes hand in hand with things like amenities and accessibility. Always do research on price range in specific areas or locations you want to invest in to avoid
disappointments or misunderstandings with vendors.