The prospect of buying land can be a daunting one, particularly for first-time buyers. There’s a big difference between buying land and buying regular Gulfport MS real estate. Buying land means having to deal with less inspections, but there are plenty of other considerations to make; particularly with vacant land. Here are some tips on how to buy an acreage from the real estate agents Gulfport MS experts.
Location, Location, Location
Everyone understands the importance of location when buying property. Residential and commercial property have to be in the right place. It’s also one of the most important aspects of buying land. The first thing to do when considering buying land is to think about what really matters.
- If the end goal is to live on the land, then consider the views, proximity to civilization and amenities, and commute time.
- If the land is being purchased as an investment, then things such as road access, space for buildings, and proximity to towns and cities should be considered.
Also, be sure to think about the elements and the property orientation. It’s nice to have a property on a hill, but that great view could be spoiled if the weather is too bad. Being situated on or near a road is also more convenient, no matter the end purpose for the land.
Think About Water and Drainage
Soil and water drainage will always be a major concern when buying an acreage. While it sounds like a nice idea to have a picturesque piece of land right by a creek, for example, a buyer may not have access to use the creek.
The creek could fall under the city watershed and be considered the property of the city. That’s going to be an issue with keeping livestock, which may have to be kept away from the creek. It could also lead to limitations on where buyer’s can place things like septic tanks. This is why buyers should avoid watersheds.
Be sure to check for drainage issues that could prevent further development and renovation of land. Buyers should avoid land where they won’t be able to obtain a sewage permit.
Look Into Easements
Investigating easements is another important part of buying land. It’s something that a Realtor® in Gulfport MS should be able to assist with. Easements are the privileges and rights other people may hold with a piece of land. Buyers should always check if they have the right to any easements over other properties.
The size and existence of easements can help to determine if the public has free access to a property or if the owner has the right to run telephone lines and internet cables, among other things. It’s also a good idea to look into the easements anyone else might have over the land.
Learn More About Mineral Rights
Mineral rights are another important consideration. Just because minerals haven’t been found on the land yet is no reason that they won’t be found later on down the line. Perhaps they haven’t been discovered yet, or simply haven’t developed. If someone buys land without obtaining the mineral rights then there’s no stopping whoever does have the rights from doing whatever they want – including demolishing the buildings on the land – to get to the minerals in the ground.
Buyers should consult with their Realtor® in Gulfport MS about who owns the mineral rights before making a transaction. The owner of the land is under no obligation to bring it up themselves.
Find Out More About Utilities
Last but not least, prospective land buyers should learn more about the available utilities. It’s great if utility lines already exist, but if not then buyers should consider the time, money, and effort that would be needed to have them installed. If the land is out of the way of the nearest power line, then the electric company is able to refuse to run electricity to the property. Look into the power availability of land before buying it.
There’s more to consider than just electricity too. Be sure to consider telephone lines, gas lines, and cable lines. There’s a good chance that a piece of land with electricity will also already have other amenities.
These are some of the things that land buyers should consider before purchasing an acreage. Make the process smoother and easier by working with a realtor® who can assist at every step of the journey. They have the experience needed to navigate anything that may come up during the process.