July 3, 2022

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5 Questions to Ask When Buying Land

Those who are experienced in buying land know that there is more to every plot than meets the eye. When you find a piece of property that you are interested in, it can be tempting to jump in with both feet. However, it is important to do your due diligence before purchasing a piece of property. There are several questions that you should ask when you are considering buying land. 

1. What is the Zoning on the Property?

There is plenty of land for sale in Suffolk VA and the surrounding areas, all with a variety of zoning possibilities. You will want to check on the zoning of the land you are thinking about buying to ensure that you are able to use it for your intended purposes. Finding the perfect plot for your business only to find out that it is zoned as strictly residential would be more than disappointing. 

2. What Utilities Are Accessible?

It is important to know what utilities you will have access to with the purchase of a piece of property. Water, sewer, electric, and gas lines may be available or there may be additional work needed to acquire these amenities. Knowing whether you’ll have additional costs for these needs can affect your budget. 

3. Is There an HOA Affiliated With the Land?

Homeowners’ Associations and their affiliated fees and restrictions may play a part in your decision to purchase a particular piece of land. Some of these organizations can be strict, so you might want to look into their rules and bylaws before making the decision to purchase in a particular neighborhood. 

4. Are There Building Restrictions?

Ask about any potential building restrictions for the lot you are considering. You will want to know about the easement, local restrictions or regulations, and if there is any kind of protected status on the land that would prevent you from building. 

5. How Soon Can the Seller Close? 

The timeline of the sale may be important to your plans, so be sure to find out how soon the seller can close on the property. If you’re in a rush and the seller has loose ends to tie up before they are ready to close, you may want to continue your search. 

There are many other questions that you might have as you’re searching for the perfect piece of property. You and your real estate agent can work together to make sure that you find all the answers you need so that you can get the right land for your needs.