Things You Should Consider Before Buying Property In A Particular Area
Land sellers might not volunteer to give information about details of their land that can make their land or property stay on market for long but it’s important to consider before taking a step to buy land that will guide you not to be a victim of unfortunate situations like being defrauded.
Location of property or land remains key when you’re going to buy, you need to consider just beyond that desire to have land and consider its location in detail. In the location details you can look at room for expansion and opportunity for investment, accessibility in terms of transport and amenities like shopping malls, health services and schools, plans for development. Do as much research as possible concerning the land you want to buy, for example you may get land in a semi-rural area because of a relatively cheap cost but you might also get interested in what growth such an area may be in the next 10 or 15 years.
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Another consideration is environmental concerns; there are environmental hazards you need to be aware of. Some land buyers think that it is very easy to spot environmental hazards just by walking around a property. But there are many environmental hazards which cannot be seen by the naked eye.
Some environmental hazards can range from toxic runoff in the water, leaking underground pipes and contaminated soil for those who want to start farming or the land may be poor or has a high water table which may cause flooding in the near future which can put you on serious health risks but compromise your plans to develop that land because additional costs.
Another factor to consider before buying land is the zoning restrictions that govern what can and can’t be done with land. Zoning is a planning control tool used in cities or municipalities to control and direct development of property. It does so by dividing urban land use into sections permitting particular land uses on specific sites to shape the layout and directing development of cities and towns. This helps to avoid mixing incompatible land uses.
Whereas zoning restricts rights of owners of land as they otherwise would like to use it but this facilitates planned development and a functional real estate market. For example, city/ urban authorities have strict rules regarding what area/land can be used for residential, commercial or industrial so if you are not aware of these restrictions you may buy land where your future development is restricted.
Access to the property, there are two main ways to access a property and these include a front road, which is a local road that provides access to private properties and a deeded road which is a two-way agreement between the neighbors.
If your property is accessed by a deeded access road, you need to find out as soon as possible what the agreement is and if necessary, sit down with your neighbor to see if anything about the deeded access has changed. This comes along with the boundaries of the property if they are clearly marked, this is one of the most important questions to ask. If you plant on land that is not yours, even if you did not know about it, you could face lawsuits.
If there is any uncertainty about the boundaries of your property you need to ask if a survey of the land has been done recently. A recent survey will be able to show you clear and up to date boundaries on your property.
Another consideration are the costs involved, real estate is an investment of time and money; the more time you spend preparing, the readier you’ll be to spend your money wisely. Some costs come with the purchase of land and at some point during the purchasing process, you might want to consider things like title insurance, legal fees, agency fees and survey fees among others. So knowing your financial capability will help in guiding you what to go for during the transaction. To avoid being duped or swindled of your money while purchasing a land, it is important that you don’t make any cash transaction. Make sure your payments have evidence and proof of payment to avoid disagreement in future.
Finding and owning land is a perfect dream and great investment but this comes with careful considerations and most likely to navigate through this journey you will need guidance of a genuine real estate professional who will assist you on the land buying process like authenticity of the land documents and ownership that could cause legal disputes.
You can start your journey of owning land in western Uganda by simply contacting us on +256777564588/+256 755282898
Find us at Kyosiga House, Mackansignh street, level 2 Room 305.
You can as well visit our website: www.amityug.com