Looking to invest in raw or vacant land? Read this blog post to learn how to weigh these 5 site characteristics before buying undeveloped land for development in Florida
Want to buy land in Florida? A lot of investors love vacant or undeveloped land as an investment! If you’re thinking about doing a land deal, make sure you consider these 5 site characteristics before buying raw land for development in Florida.
Weigh These 5 Site Characteristics Before Buying Raw Land For Development In Florida
Site Characteristic #1. Legal Boundaries
In residential zones, the limits of a property are often clearly demarcated by fences, sidewalks, and streets. However, this is not always the case with undeveloped land. The exact perimeters can be ambiguous, making it challenging to discern where one property ends and another one starts. It’s crucial to establish and understand the legal boundaries of your land before any development to avoid encroaching on adjacent properties. This is usually done by having a survey done on the property to determine the actual boundary lines.
Site Characteristic #2. Zoning
Municipalities implement zoning in various regions to regulate expansion, as homeowners generally prefer not to live next to landfills or loud factories. Zoning laws limit the types of structures that can be erected on a property as well as the use of the property.
Therefore, if you’re considering developing the land yourself or selling it to a developer, it’s essential to be aware of what is permissible to build on the property.
Site Characteristic #3. Drainage
During rainfall, some water is absorbed by the ground, but during heavy downpours, not all of it can be immediately absorbed. It’s important to consider where water flows during rain or snowmelt on your property. Understanding the natural drainage patterns can guide you in choosing suitable development spots, such as avoiding buildings in areas prone to flooding.
Note: while it’s possible to alter the drainage lines to some extent, it’s crucial to be aware of the existing water flow patterns before starting any construction.
Site Characteristic #4. Stability for structures
Vacant land offers a myriad of potential uses, but it’s important to recognize that not all land is suitable for every purpose. The composition and quality of the soil play a crucial role in determining the feasibility and location of construction on the property. Factors such as soil type, stability, and drainage capabilities can influence whether a structure can be built, where it should be positioned, and the depth required for foundations to ensure a stable and dry building. Soil analysis is essential in guiding these decisions, helping to ensure that any construction is both safe and sustainable in the long term. Understanding the soil characteristics can also guide decisions regarding landscaping, gardening, and other land uses.
Site Characteristic #5. Path of growth
Discovering the optimal location to purchase vacant land is straightforward: choose an area poised for future development! As the surrounding region develops and demand for land increases, the value of your investment is likely to escalate. To make a wise investment decision, it’s crucial to identify the trajectory of development and growth. This knowledge will guide you in selecting the most promising location for your next land investment.
Summary
Historically, investing in vacant land has been an attractive option (considering that at one point, all land was undeveloped!). If you’re considering purchasing land in Florida for development, it’s important to carefully consider these 5 key site characteristics before making your investment in raw land.