Making the Land Work for You: Tips on Developing Your Acreage

Buying commercial land for sale in Texas often incurs other costs apart from the initial investment of buying the property, such as taxes, set up costs, and maintenance. So how do you maximize the land for the most profit, and bring in the maximum return on your investment? While some of the best tips concern the groundwork you do before you make a purchase, others can be carried out after you buy the commercial land for sale in Texas. But first, let’s have a quick look at why you’d want to buy acreage.

BENEFITS OF OWNING ACREAGE

Apart from starting out a new venture and a completely new lifestyle, in the case of some, having your own acreage also yields plenty of other benefits. Not only can an acreage be a great source of income, owning acreage is also a great way to make a profit in a later sale especially if you decide to develop it. You can have total privacy. If you decide to live on the land, you can enjoy the vast space all around you, without neighbors, determined salespersons knocking on your door, or the throng of people that you become used to living in urban or even semi-urban areas. You have as much outdoor access as you would like, something that you may not necessarily have when you live in the city, or even the suburbs. It’s great for families with young children and pets. The children can have a healthier lifestyle and develop a greater respect and curiosity for the natural world around them.

DEVELOPING YOUR LAND

Planning for land use requires a lot of research. Your property’s location is going to be a very important factor in its usability. Nearby airports, landfills, animal farms, power plants, or other types of commercial property will inevitably affect your immediate environment. Is the local community expecting any major developments in the near future? What kind will they be, and how much of an impact will it have on your property? Within your own land, you need to become familiar with all of the natural elements and features in it. Get to know streams, lakes, or rivers around it, as well as other notable formations you can find. Even if it’s a plain field or valley, make a thorough inspection of the land. While it’s likely you have already bought the land for a specific purpose, getting to know your land very well may present you with more opportunities of what is possible. This is an ongoing relationship with the land and the longer you have it, the more you’ll get to know all its features and nuances.

Be aware of development costs and considerations

Owning raw land comes with certain considerations. It could be that the property actually sits on a flood plain, or the lack of utilities and infrastructure might make it more difficult to live on or develop. Surrounding wildlife, climate factors, and other local concerns that could impact the property should be well known before you make a purchase. When you’re developing raw land, be aware that there are considerable costs. It may be necessary to conduct an environmental impact study. Then there’s applying and paying for the necessary fees and permits, engineering services, soil testing, access roads, utilities, waste disposal systems, and more. All of this can add up, and not only will you need development money, you should have some set aside for any issues that may arise.

Learn about the zoning

Land research should include finding out about what type of zoning the land is designated as. You wouldn’t want to buy a piece of land with the intention to grow and sell produce, only to realize later that the zoning designation of the area restricts you from doing so. This doesn’t mean that zoning designations cannot be changed, or that exemptions and waivers cannot be issued. However, it would be much better from the start to know precisely what you can and cannot do on your land, without having to rely on zoning changes you may need to look for after.

Work with professionals

Land development projects require a full team of professionals. It all begins with working with the right real estate agent, from whom you can gain access to all the other professionals you’ll need. From land surveyors to contractors, project managers, engineers, and more, a real estate agent is your starting point to successfully developing your land. With the right support behind you, you can make the most out of your acreage. The team at Berkshire Hathaway HomeServices Caliber Realty will be with you throughout your venture. Call 979.694.8844 or email here to get started.

Filed under: Blog by AgentImage
Comments Off on Making the Land Work for You: Tips on Developing Your Acreage