Land acquisition is a challenging process for most people. This is because it entails a lot.
There are several factors to consider when planning to acquire land, including the different types of land acquisition and the land acquisition cost. These help you ensure you do not end up with an illegal land acquisition.
This is essential, especially when considering land acquisition real estate. If you wish to build your own home, a good location near a mall, a school, or even your work would be most ideal.
You shouldn’t only consider the municipality, but the precise location. In fact, this is usually the first consideration you make.
The Property Setbacks
Most land has some setbacks, which stipulate how far the structure should be set back from its border. This helps identify your boundaries, especially if the property is a real estate acquisition. You must ensure this is sorted before signing any documents.
The Zoning Requirements
The land jurisdictions must be considered primarily if it is zoned for the commercial or residential area. You will be required to determine whether you shall be allowed to have a residential structure on the land or not, especially if the site is primarily for commercial purposes.
Additionally, this helps caution you from illegal land acquisition.
Ideally, any land acquisition should not be vulnerable to natural hazards, which will depend highly on where the specific land is located. It would be best to protect yourself from the risk of fires, which is a massive problem in most areas.
Determine whether the land in question is within a fire zone before buying it. Additionally, you should have the soil assessed to check its composition and quality, as this can affect how your new home will be built.
Land Acquisition Cost
This is, of course, vital. It would be best if you considered the cost of the land acquisition. The cost will also become instrumental in deciding where to acquire the land and the type of home you wish to build for yourself.
If you are looking for easement of property on the title deed, you will want to know this before committing to land acquisition.
An easement will give you the legal right to use someone else’s property for specific purposes regardless of the owner. For example, if an easement on a property only allows others to cross over it to gain access to the other lot, this will undoubtedly impact your privacy.
For land acquisition, it is wise to consider the utilities. Is the area powered, is there a water source, and can you find access to gas, electricity, waste, phone, and cable? These are vital.