Top Factors to Consider Before Developing Raw Land
Posted on: 16 September 2020
Few experiences come close to what you feel when you stand on your raw land. The feeling of owning land is a mixed bag of pride, security, and independence. The best part about owning raw land is that it appreciates. It means that if you decide to sell your property in the future, you are assured of a sizeable profit. However, you stand to gain even more if you develop your land because developed land has a higher value than undeveloped land. Here a few factors to consider before you begin developing your property. Read on.
Elements that Affect Value -- As a landowner, you should know that certain factors affect your property's value either positively or negatively. For instance, land that is sandwiched between two lots will have a lower value compared to a corner lot. The reason is that corner lots are easily accessible and excellent candidates for development. Similarly, regular-shaped lots are much easier to develop because their design plans are straightforward, unlike irregularly shaped land. Therefore, keep in mind aspects that might affect your property's value and plan how to address any negative attributes.
Walk the Land -- There is only so much you can get from the survey chart and topography pictures of your land. If you want to know your land inside out before developing it, it is good to get personal with it. Take time and scout the entire piece of land. Naturally, you want to take advantage of any natural features -- streams, ponds -- on your lot. Only a close encounter with your land will help you to explore creative ideas. For instance, if there is a stream on your lot, you can consider different walk board designs that work well with the surrounding environment.
Maximising Space -- For the most part, developing a small piece of land can be challenging. You have to factor various amenities into the development design, such as sewage and stormwater management. Therefore, if you do not know how to maximise your space, you will have a problem. There are various ways to maximise land space when planning to develop it, but most property owners do not know them. For example, most landowners do not know that they can alter a building's standard distance from the curbs, property lines, or other structures. Such strategies can be precious in maximising space, primarily when developing small lots.
To learn more, contact a land development contractor.
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