A widely known real estate investor and philanthropist, Louis Glickman, said, “The best investment on Earth is earth,” and I couldn’t agree more.
But how do you know that investment is the proper fit for your needs?
The first step in deciding whether buying land is a good move for you is to discover your needs and wants. Ask yourself these questions:
- What will you use the land for?
- Does it have utilities or improvements?
- Is it ready for building?
- Does it have wildlife/fishing opportunities?
- Is there room for cattle or horses?
If after you’ve answered these questions you still feel like you need some help, a Land Professional can help you discover your specific needs for a land purchase.
After you’ve determined your specific needs and wants for a property, you’ll go on to start your search. But there are some other factors to consider at this step in the process. Things such as the location and price of a property are important components when determining if a certain property is right for you.
When deciding on if the location of the property best fits you and your lifestyle, you’ll want to ask yourself if it’s where you want to be for the specific purpose that you’re buying land for. For example, you wouldn’t necessarily want to be close to a major city if you want to buy pasture land for your cows.
You’ll also want to make sure that the price of the property you’re looking at is within your budget. Something you’ll want to ask yourself and your Land Professional is: “Is there room for negotiating?” Remember that a Land Professional can help you with negotiating a price if you’re not as comfortable doing so yourself.