Many people strive to own a piece of land they can develop from scratch. It provides a sense of pride and accomplishment. It can also be a source of investment revenue, especially in rural locations. Over time, a land development project should increase in value, making the initial expense more than worth it. But how do you begin the process? Below are a few tips to help you get started.

Before Purchasing Raw Land to Develop

1. Create a Plan

Before purchasing, think about how you want to develop the land, such as whether it’ll be for a commercial building or a family home. This will help you narrow down your options and focus on areas that work for your needs. For example, if you want to build a home, find a piece of property in an area with a nearby school district and easy accessibility to essentials like a grocery store and restaurants. Knowing what type of area you want and having a set plan for your land development project will help you receive financing from the bank. 

2. Perform Research

It is common for the land development process to have some problems. However, you can avoid most issues by learning as much as you can about a piece of land before purchasing it. There may be zoning restrictions on the type of development you want to pursue, or there may be easements that preclude areas of the property from being developed. Additionally, the existing infrastructure (water, sewers, roadways, etc.) may not support the development that is planned. These issues can be expensive to fix and may affect your budget for the project.

3. Find the Best Time

Timing is essential for successful land development. Demographics and the economy are always changing. You wouldn’t want to buy a lot for commercial buildings if the area already has an excess of empty office space that can’t be filled. If you have plans to create a large vacation home, make sure there is demand in the area. By building at the wrong time, you could be losing money in the long run.

When you’re ready to purchase raw land, contact the team at Abercrombie & Associates in Cincinnati, OH. They specialize in land development, site surveying, and property zoning and will help you find the best piece of land for your needs. Whether you’re looking to prepare a site for a construction project or build residential homes, they’ll walk you through each stage of the process. To learn more about their services, call (513) 385-5757, or visit their website.