Purchasing Land: The Executive Way
Purchasing land can be one of the most significant investments you'll make, whether it's for building your dream home, starting a new business, or holding it as a long-term investment. At Executive Estate Realty, we believe in providing our clients with the highest level of expertise and personalized service to ensure they make informed and confident decisions. Here’s how you can take the Executive way to purchase land successfully.
1. Conduct a Comparative Market Analysis (CMA)
Start by having a REALTOR® perform a Comparative Market Analysis (CMA) on the property. This analysis will help you understand the land's market value based on recent sales of similar properties in the area. It’s an essential step to ensure you’re making a well-informed investment.
2. Determine Your Plans for the Land
Identify what you intend to do with the land. Whether you plan to build a home, start a business, or use it for agricultural purposes, you will need to call the local planning and zoning department to ask relevant questions. Look up the county legend, a three-digit code, to understand the zoning classifications. Verify if the land is part of a Planned Unit Development (PUD), as this will affect your usage options and requirements.
3. Check Access and Easements
Determine the type of access the land has. Is it through a public road or a prescriptive easement? Ensuring legal access to your land is crucial for future development and usability.
4. Investigate Wetlands
Find out if any part of the land is designated as wetlands. Wetland credits can be costly, so it's important to factor this into your budget. Additionally, contact an insurance agent to check the FEMA 100-year flood map for any flood risk information.
5. Survey the Neighborhood
Research the neighborhood to see what else is being developed around the land. Understanding the surrounding area’s growth and development plans can significantly impact your land’s future value and utility. Additionally, hire a professional surveyor to verify the boundaries of the land and identify any required setbacks. This will provide a clear understanding of the exact size and limitations of your property, ensuring that you make a well-informed investment.
6. Plan for Electricity
Investigate how your property will receive electricity. Identify the APN number or grid coordinates and contact the local electric company to find out about the availability and cost of connecting your land to the electrical grid.
7. Water Supply
Determine how your new home will get water. Contact the county water department to understand your options, whether it’s connecting to the municipal supply or installing a well.
8. Check Internet and Wi-Fi Capabilities
Find out if the land and surrounding area have Wi-Fi capabilities. Many rural areas may lack reliable internet access, which is crucial for modern living and business operations.
9. Conduct a Bore Test
Consider performing a bore test or soil test to understand how the land percolates. The type of soil on your land is crucial for planning foundations, septic systems, and other infrastructure needs. If the soil is sandy, it will percolate well, making it ideal for certain types of construction. On the other hand, clay soil can cause water runoff and may present challenges for drainage and stability. Understanding the soil composition is essential for ensuring the success and longevity of your construction projects. If you need assistance finding a reputable company to conduct the test, reach out to an Executive Estate Realty realtor for expert guidance.
10. Title Search
Get a title search to ensure there are no legal issues with the land ownership is a step you definitely don't want to skip. At Executive Estate Realty, we have a direct connection with Kelly Cassidy of Majesty Title. She is available to answer any questions you may have before purchasing your land across the state of Florida.
Purchasing land the Executive way means making informed decisions with confidence and clarity. At Executive Estate Realty, we provide exceptional service and expert guidance to help you navigate the complexities of land acquisition. Whether you're looking to build, invest, or create something new, our team is here to support your real estate dreams.
Ready to start your journey to land ownership? Contact us today! Adriana Gonzalez 863-808-6788 of Executive Estate Realty has raw land available in Marion County, and would love to hear what you plan to build next. Reach out now and let's make your vision a reality!
