Purchasing land is one of the best investments to make for many people. Land is one of the few assets that can appreciate quickly, especially if the surrounding area starts being developed. The best part is that there are many plots of land for sale in Queensland that would be perfect for investment purposes.
Investing in a plot of land, however, isn’t as straightforward as investing in property that has already been built. There are slightly more pitfalls that first-time land investors must avoid to help them make the most out of their investment. With that in mind, make sure you avoid making these mistakes when investing in land for sale in QLD:
Working with a Random Real Estate Agent
First off, you’ll want to work with a trusted real estate agency, like Lion Land Marketing, that specialises in land for sale. Acquiring land is very different from simply buying a home, so you’ll definitely want someone with years of experience on your side as you browse the options available to you. The last thing you want is to work with an inexperienced agent who gives you the wrong advice or botches the paperwork. Real estate agents with experience in buying and selling plots of land can easily help you navigate the process of buying land, as well as help you find deals that provide you with an advantageous start to your investment.
Forgetting to Check for Zoning Changes
If there’s one constant in life, it’s that things change. That certainly applies to land as local governments may choose to change zoning regulations. Before you put pen to paper, make sure you take a look at any updates in the zoning regulations that affect the property that you are interested in. Certain changes may make your new investment less appealing to property developers or even potential first-time homeowners in the future. An experienced agent should be able to help you find the latest zoning regulation for any block of land you may be interested in.
Not Checking for Flooding and Other “Hidden Issues”
Lastly, you’ll want to take a look at “hidden issues” or problems that may not be so obvious during the first few times you view a block of land. Try to look at the history of the area where the lot is located. Is the area prone to flooding during heavy rains? Is the land sloping or is it completely level? These are only some of the details you will want to be aware of before you complete any deal.