Purchasing land is a tough job. You have to ensure many things like deciding your budget, property inspection, etc. But all your time and hard work are worth it when you get the perfect real estate piece you want. But most of the time, you always miss a few things before buying your land. Curious to know what points you overlook? Below we have given the crucial tips or guidelines to consider when purchasing vacant land. If you have already made all our given points, then congo. If not, then why waste your time on chit-chats? Go, make it done fast. Here’s how the key points look:
#1 Check For The Deed Restrictions
The first thing you need to do is check for the deed restrictions. It will help you to know what things you can do with your property and whatnot. Moreover, this way, you can save yourself from the violation of any legal rules and regulations. If you are working with a real estate manager, he’ll surely provide you with all this information. But if you want to get all the property deed data on your own, then it’s available at the county clerk’s office. Below are some things you may get to see in it :
- Maximum and minimum land square footages
- Rules for auxiliary and outbuildings structures
- Limits for materials and building styles that you can use
- Other restrictions on what and how you can build on your land
#2 Access To Resources
It is crucial to check the availability of resources in the area your property exists. Resources that are needed for our livelihood, like the water supply, electricity, etc. These are the second most important thing to check before buying any land piece.
Moreover, the resources are dependent upon your needs. For example, if you are a businessman and are purchasing land for sale in New Mexico, to make a warehouse or your new shop. It would be best if you prioritized the facilities like proper electric supply, the place should be near the local market and roads. If we compare the same thing with a person who is buying the land to make his/her residence. For them, the facilities to keep in mind are given in the above para.
#3 Don’t Forget To Do A Perc Test
Another thing you need to look for is: your land must have a sewer system. Any residence or property that is going to be built on your land will require a septic tank. To check whether it supports the tank or not, you need to do a percolation test. A “perc test” measures the absorption capacity of your land. It means how much liquid the soil can absorb, where the septic tank is going to be made. If your property does not support the septic system, then you can not build on it.
So before you engage in any financial transactions, make sure you do a “perc test.” For this, you can visit your nearest municipal office and request it. This test doesn’t cost much and is very affordable.
The above are some tips, or you can say some guidelines you need to follow when buying any piece of land. These key points will save you from purchasing anything that is just a waste of your time and money. Make sure you have made a checklist of all the above tips. So, next time you see an advertisement like New Mexico land for sale, don’t forget to use these tips before making any decision.