Published on Wednesday, October 21, 2015 by Land Century
Now is a good time to buy land in Charlotte County, and you can still find bargain deals. Use the tips below to land a great deal on a piece of property in this growing area.
Dont Rush to Make a Deal
Sounds counterintuitive, doesnt it? If you find a great opportunity, shouldnt you jump at the chance to make a deal? Yes, and no.
Remember, land is still an investment, so its important not to buy impulsively. This is not a decision you want to take lightly as the wrong piece of land could cost you money.
Its also not a good idea to make a deal on your very first visit to the property. Furthermore, you absolutely need to visit the property and take a look around before you even consider making an offer.
A piece of property may sound great on paper, but what does it look like in person? You may have dreams of building a home (for personal or investment purposes), but if you buy without seeing the land first, you may wind up with unbuildable swamp land. Or, you may wind up being just down the street from a pig farm.
Sometimes, cheap land is cheap for a reason. And unless you visit the property yourself, you may not know this reason until its too late.
Visit the Property during Off-times
Most plots of land look great on bright, sunny days. But what about on cold or rainy days? Visit the property during unfavorable weather to see if you can pinpoint any potential issues.
While youre at it, take the time to visit on weekdays and at night. Whats the traffic like during these times? How about noise? Is there offensive nighttime lighting?
Noise, traffic and offensive lighting shouldnt be an issue in Charlotte County as the population for the entire county is just 164,736. That said, its still important to visit the property several times during different times of the day and weather conditions to identify any issues that may complicate your building plans.
Location, Location, Location
Location is always the most important thing when it comes to investing in land or real estate. Charlotte Countys population is growing, which is a good sign, but you still need to know where to look. If youre looking for land to build a home for investment purposes, you may not want to purchase a vacant lot in the middle of nowhere.
Look for opportunities near high-growth areas, like:
* Port Charlotte Large population; named one of the 25 best Places to Retire in 2015 by Forbes
* Punta Gorda The county seat
* Englewood Growing retirement population
Many of the cities in Charlotte County boast smaller populations (under 3,000), and these areas may not prove to be profitable in the long run.
On the other hand, if youre searching for property for personal use and want to live in a smaller town, consider Manasota Key (pop. 1,229), Charlotte Park (pop. 2,325), Grove City (pop. 1,804) or Solana (pop. 742).
Research Site Restrictions and Limitations
Another reason you should not rush to make a deal without researching the property: site restrictions and limitations. Whether you want to build a home or use the land for recreational use, there may be limitations or restrictions that prevent you from following through with your plans.
If youre building a home, make sure that you can use the site, and that you can build the home that you want. There may be HOA rules, restrictive covenants, environmental conditions and other things that may affect the use of your property. Also, be sure to research front and side setbacks to ensure that you have enough land to build without being too close to the road.
Double Check Utilities and Road Access
Does the property already have utilities? What about cable and Internet connections? Does it have easy road access? If so, you can save on development costs. Running utility lines and making the property accessible could prove to be a costly venture.
Be sure to find out if there are any hidden fees for water and sewer connections. If you plan on installing a septic system, youll need to get a perc test, which will measure the absorption rate of the soil in the area where the tank will be installed. Make sure that you know exactly which utilities, if any, are present, and which ones youll have to run yourself.
Make Sure the Seller Has Rights to the Land
Before you make an offer, make sure that the seller has rights to the land (i.e. the true owner of the property). You can verify this by checking with the county recorders office to see the registered owner of the property.
Also, check to make sure there are no liens against the property as this can cause further complications.
Charlotte County, Florida is a great place to invest in land. With beaches nearby and a growing population, theres potential to see a great return on your investment. In areas like Port Charlotte, which was named one of the best cities to retire, land opportunities can be particularly lucrative. Use the tips above to find and secure a great piece of investment land.
While you may be quick to pull the trigger if you find property at a bargain price, its important not to rush the deal. Visit the property several times during the day, at night, in poor weather, etc. Find out what utilities you need to run (if any) and if the property has road access. Research limitations and restrictions on the site to ensure that you can go through with your building plans. Dont forget to ensure that the seller is the rightful owner of the land, and to do your homework on the best areas to buy land in Florida.