Purchasing land at the beach requires finding land at or near the beach that has not been developed with a house. Finding land that is actually on the ocean or waterway is challenging, and can be prohibitively expensive. Land just off the ocean or waterway tends to be more available, and requires less investment. Either way, there must be value in the property for it to be a good investment. Look at the following points to help you figure out if it will have value.
1. Figure out why the land is for sale.
2. Are utilities available for a house?
3. Are development projects forecasted or expected in the area?
First off, determine why the land is for sale. Frequently zoning restrictions prevent landowners from building or doing what they want, and they will try to sell it. If you are not aware of these restrictions and rules, you might be in for a big, and bad, surprise. The ground and surrounding area might not be supportive to buildings. For example, sinkholes might seem sturdy for many years, but can begin to falter over time, causing unstable ground. Know what you are buying before you buy.
Second, research the area to see if it has all the necessary utilities to support a house. If there are electrical lines, but no sewer access and rules against a septic tank, then the land won’t be worth as much. Keep in mind that if the land doesn’t have all the utilities it needs available, it might have them available in the future. Land development close by might mean that a sewer line is put in. Purchasing the land before those events happen would allow you to get it for less money, and ultimately have a larger profit.
Third, figure out if any development projects are going to take place. Residential and Commercial development are typically easy to forecast given the surrounding area, but sometimes they can pop up in remote places. Investigate the development projects that might be coming close to your land, and consider that into your purchase.
Beach property investments are a great way to supplement your income. Beach houses provide a nice stream of rental income. If you are interested in learning more about beach property investing, look at Jeremy Szechenyi’s Blog, hubpages.com/hub/Beach-Investment-Property, for more info.
categories: Beach Real Estate,Beach Land for Sale,Buying Beach Property,Buying Land,Buying Property,Real Estate Investing,Real Estate,Investing,Money,Business