10 Development Guidelines for Raw Land

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10 DEVELOPMENT GUIDELINES FOR RAW LAND

• Standing on your own private land and
  experiencing the earth sifting through your
  fingertips gives you a sense of pride,
  independence, and security as you examine your
  personal property. You own property! Aside from
  pride, there are numerous compelling reasons to
  purchase undeveloped property. One of them is the
  cost. Across the country, you can locate
  moderately priced raw land tracts. This is
  especially true in rural, sparsely inhabited
  places.

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MAKE A LAND PLAN

• You have decided to buy some raw land, but what
  will you do with it once you have it? Do you want
  to start raising cattle? Building your ideal
  home? Is it suitable as a retirement investment?
  Or do you want to build it so you can quit your
  day job?  Before you begin the purchasing
  process, you should decide how you intend to use
  the raw land and when you intend to purchase
  it.   
• A little forethought will assist you in selecting
  the parcel that is best suited to your stated
  objective. For example, land purchased for
  hunting would necessitate the presence of
  sufficient animals in the vicinity.

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RECOGNIZE THE DISADVANTAGES   

• Although investing in undeveloped land might be
  profitable, there can also be drawbacks.  
• Buying raw land is regarded as a long-term,
  illiquid investment. Even if you start building
  it right away, it may be a long time before you
  see any returns. Selling it quickly is rarely an
  option.  
• There is also the possibility of losing money on
  raw land selling. This is especially true if you
  make a poor selection or fail to completely
  assess the parcel. Unexpected circumstances, such
  as a slowing economy, might also have an impact
  on your sales price and how quickly you can sell
  it.   

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CONSIDERATIONS OF FACTORS THAT AFFECT THE VALUE

• Sometimes, it gets tough to determine the value
  since there are some factors that affect the
  value. An unusual, shaped land that makes
  development difficult can be a disadvantage. So,
  you need to pay close attention to the actual
  size, shape, width, and depth of the property you
  are considering.  
• A primary consideration is location. Corner
  properties with convenient access to roadways and
  parking are excellent development options. When
  deciding where to buy raw land, make sure you
  have easy access to drainage, drinking water,
  natural gas, electricity, and phone service.   

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BE READY FOR POTENTIAL ISSUES 

• The bare soil may appear attractive but seek for
  problems that literally conceal beneath the
  surface. Potential issues include burying toxic
  waste in leaking underground storage tanks,
  ageing wells and septic systems, subterranean
  pipes, and cemeteries. And, while you may see the
  rocks that need to be removed above ground, you
  may not notice the massive boulders lurking below
  that could prevent you from constructing a
  basement for your new home.  

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