With proper guidance on your investments, purchasing the right land investment, at the right price and time, is a much simpler undertaking overall than that of the typical commercial or residential investment. However, it requires dedication in order to avoid making a mistake from which you may never recover your financial loss. If you are considering venturing into the arena of land investments, you will want to watch for these 5 signs of a bad land deal in Albuquerque.
Feeling Rushed
Should someone make you feel pressured to rush the process of investing in land or is pushing you to sign quickly, this is a key sign of a bad land deal in Albuquerque. This is a very large investment so you will want to take your time to ensure that there isn’t an unforeseen problem with the land, such as encroachment or pending zoning changes which could prevent you from fulfilling your plans. The last thing you need is to be dealing with impending legal boundary disputes.
Zoning Classification
If the seller focuses on building your expectations and seems to want you to avoid learning about the zoning of the property, this is a sign of a bad land deal in Albuquerque. Investments such as these carry high consequences both financially and timewise. Value in land investments comes through the ability to use the land to the highest and best purpose for the specific area, regardless of the current use. In order to properly value the land, you must know the local market intimately while being aware of any legal issues that control the use of the land to its fullest extent. A quick call to the county planning and zoning department can help guide you in both the intended use of the land and examples for your consideration.
Viewing
You will want to be aware of hurdles that could prevent your plans from coming to fruition, such as low lying floodplains or other unbuildable or uninhabitable lands. These are signs of a bad land deal in Albuquerque. You will want to utilize the benefits available to today’s real estate investor by online viewing of the topography map, quickly showing you any signs of concern in the area in which the property is located. Be sure you’ve researched the local, state, and federal laws for the property you are interested in purchasing. Some landowners have even been prevented from developing the property they own due to the presence of protected species of either animals or plants.
Taxes and Assessments
As you have probably heard before, taxes are one of the few certainties in life. You will want to investigate properties that carry unusually high property taxes or have upcoming assessments for planned improvements in the area causing many owners to want to suddenly sell, these are signs of a bad land deal in Albuquerque.
Utilities
The lack of access to common public utilities is a sign of a bad land deal in Albuquerque. While you are focused on your dreams of just where you will place your new home on the property, you need to confirm that your electric, water, sewer, and any other services you envision are readily available. These would also include cable television, telephone service, or internet providers. Problems like these could prevent you from ever building or using the property as you once intended.
We have covered just a few of the possible complications that can arise when trying to purchase land. Want to avoid a bad land deal in Albuquerque? Let our experience guide you and make it simple. Heritage Home Solutions, LLC will help you find the best land, we know these signs to watch for and many more! Send us a message or call (505) 445-4005 today!