Buying Property: Land Buying Tips
Buying your own piece of land to build your family home on is a dream for many. When considering the purchase of Spokane land, there are many factors to take into account. Here are the top 5 things you should consider:
- 1. Location
The old adage of real estate is location, location, location. Picking a property in the right spot is the key to realizing the goals of your investment. Whether you are looking to start a family homestead or trying to create some income property, getting a great location will affect your future property values dramatically. Consider your proximity to the 5 places you’ll visit most- such as work, school, shopping, family/friends, and the airport. If you can strike a balance between convenience for you and your visitors while still having a remote setting, you’ve got a great asset. Fortunately, there are hundreds of Spokane property options that offer country charm close to the city.
Do you dream of living in the country? There are many options outside of the city, anywhere from flat farm land to waterfront property. Some will enjoy the comfort and security of living in a gated community, where others want total separation from others. It is important to identify what is most important to you and weigh that against other factors. While the land itself may have the many treed acres you would love, views are just as important to consider. Not only will a great view give you great enjoyment throughout the seasons, it will actually also enhance your property values.
It is critical to understand both zoning laws as well as community bylaws that may affect the area in which you live. In Spokane, WA, you should check with the Planning Services Department for specifics on land use permits, or if you are looking for property in Spokane County, check with the Department of Building and Planning. You may be surprised at the complexity of the limitations of specific zoning regulations which can dramatically affect how you can use the land. One typically contentious issue is the availability of housing large animals in certain residential zones (as such, horse property fetches a premium price). It is a good idea to check about each of your building plans (including outbuildings) before you make any purchase, so you don’t run into red tape with the County and find out you can’t get the necessary permit for your dream home due to some technical issue with your zone. If living in a community, make sure that you study the bylaws thoroughly before agreeing to any purchase to ensure that you can stay in compliance without conflict. It is wise to retain the services of an experienced real estate attorney, especially if this is your first time purchasing land in Spokane.
4. Future Development
While it impossible to know the future, make sure to give thought to any future development that may affect the value and enjoyment of your land. Perhaps a new freeway or wind farm might be planned in the near future right around your property. Maybe some new environmental legislation that is pending may limit your ability to do construction in wetlands. If you are finding that the property you are considering is a great bargain, there is probably a good reason why the price is below market. Do your homework and find out why before you get stuck with a lemon of a lot.
5. Seasonal Considerations
Thousands of people that have chosen to move to Spokane love the balance of the strong economy with an easy pace of life, and most that move here fall in love with the four seasons climate. When looking for Spokane land, be mindful of how you are going to travel in the winter, and decide if you’ll need to purchase different vehicles to do so. If your land is on a slope, consider any improvements you may need to make to ensure that erosion doesn’t limit your ability to travel safely. Also consider hot weather in the summer months. Strategically building your home among trees can really reduce your energy bills in the summer. Just don’t forget to be vigilant about maintaining those trees in the fall and winter. A Spokane home was damaged by a falling tree in a wind storm that could have been easily prevented with a preemptive tree removal.
Seek Experts When Buying Property
Truly, there are dozens of other factors to consider in such a major purchase. The best thing you can do is work with an experience real estate agent who really understands the Spokane real estate market, and has a history of completing successful rural property transactions. It will take patience and diligence to make your land purchase a success, but it can pay dividends for generations to come.