Those who own a small plot of land or wish to purchase one consider land as an excellent way to invest in real estate, especially if several families live under the same roof. As these are types of building land, they are used to construct a house and make it a more practical living space and enhance its potential value. This requires numerous advantages.
The different types of land
Lands can be a very complex subject to deal with. The different types of lands (buildable, serviced, etc.) come with their own set of rules and regulations that must be respected before the sale.
There are several types of lands:
- Buildable
- Serviced
- Industrial
If you want to build a house, you must purchase buildable land. If you want to create an industry, you must buy industrial land, and so on... To find out if a land is buildable, it is important to check the following information: the Local Urban Plan (PLU), the Urbanism Certificate and the Cadastre.
The land you purchase must be suitable for the type of building you wish to construct there. Many variables can influence this decision, such as the width of the land, the slope and leveling, the proximity to watercourses or wetlands, the type of soil, etc.
Before purchasing land, make sure to get answers to all your questions and know exactly what type of property you are buying.
How to choose your land for your investment?
The size of the land must be large enough to build a house on it. Get help from our agency Allard Cooke & Associates for the success of your project!
Before buying, you must inspect the land, check if there are any surface and underground problems. If there are a lot of rocks or water, this affects construction, so it is necessary to adjust the structure of the house and hire more labor to complete it.
Here are some elements to consider before buying land:
Location of the land
It is important to think about the location of the property. Is it located close to shops and other services? Are there public services? Is it prone to flooding? Are there zoning issues or restrictions that will prevent you from using the land as you wish?
Size of the land
You should also consider the number of acres included in the property and the size of the land you are looking for. Depending on your plans, you may need a larger plot than others.
Value of land in Megève
Find out about the recent selling price of similar properties in the area. This will help you determine if the property's price is fair considering its location and other factors.
Planning
It's also important to think about the future. If you plan to build a house on the property at some point in the future, will it be possible considering local building codes, etc.
How the sale of land proceeds
Hiring a specialized lawyer
If you are buying land, you can hire a real estate specialized lawyer to help you successfully complete this procedure. The lawyer works with the title company and the lender to ensure all documents are filed on time.
Here are some elements to keep in mind when buying land:
Buying land from a developer: restrictions
If you are buying from a developer, there may be certain restrictions, such as using only specific builders, which could affect your house construction plans. In this case, you will need a lawyer to ensure you have the freedom to do what you want with the land.
The seller requires a property survey
The seller's lender may require a property survey before issuing a loan commitment letter. This is especially true if the seller has had difficulties making mortgage payments and wants to sell quickly. In this case, it is important that your lawyer reviews the proposed survey before it is sent, so that your interests are properly protected.
Notary fees
A notary is a public officer who witnesses signatures on legal documents and verifies their authenticity. Notaries are most often required during real estate transactions. The property title is not transferred until the document has been notarized.
Want to buy land? Discover our available offers at Allard Cooke & Associates!
