When searching for a real estate venture to put their money in, few investors ever think about purchasing vacant land. For many, real estate is all about purchasing developed property so as to start earning money from it as fast as possible. Nevertheless, one primary benefit of vacant land is that it gives one the liberty to choose any kind of project to set up on it. The following are the things one ought to keep in mind during the search for land for sale in Okeechobee FL.
One of your primary concerns should be zoning. Statistically speaking, a considerable swathe of Florida is urbanized. This means differing sets of laws may determine land use in the many jurisdictions within the state, Okeechobee being one of them. Zoning laws basically determine the kind of activity that land can be used for.
Luckily, finding out what the law says about your area should not be hard. All you should do is contact the authorities responsible for zoning within that jurisdiction. This is information that is available to everybody. Once you get the information you need, you will know whether purchasing the parcel of land is the right thing to do based on the intended use.
In total, there are five general zoning classifications. They include industrial, residential, commercial, mixed use and agricultural zoning. If you intend to build a block of residential apartments after purchasing your parcel, you should ensure the area is zoned as residential and not agricultural or any other classification. Just do your due diligence by inquiring about all this beforehand.
Another critical concern is the topography and general geology of the area. It is no secret that Florida has a vast limestone base beneath its topography. You want to purchase a piece that has the least chance of developing sinkholes. Other topographical aspects to look at include the presence of ravines, cliffs and flood prone sectors. Topography is especially critical as it has a direct impact on the feasibility of constructing buildings.
Nowadays, you can do all the inspection you need without having to be on site in person. There are many free online tools to choose from, with Google Earth being one of the renowned options. This notwithstanding, you will require a good internet connection to view topographical features such as cliffs and hills clearly.
Another vital aspect you ought to look at is taxation. This is usually calculated on an annual basis and is based on the value of the property in question. Large parcels attract higher taxation rates than smaller ones. The local authorities should furnish you with all the information you need on inquiry. Nonetheless, the rates in most regions in the US range from 1 to 4 percent of the related property value.
Lastly, you want to ensure the property lies close to the public utilities in the area so as to maximize its resale value. The only exception is if you intend to use it for off grid living. Public utilities to expect include sewer lines, water reservoirs and electricity.
One of your primary concerns should be zoning. Statistically speaking, a considerable swathe of Florida is urbanized. This means differing sets of laws may determine land use in the many jurisdictions within the state, Okeechobee being one of them. Zoning laws basically determine the kind of activity that land can be used for.
Luckily, finding out what the law says about your area should not be hard. All you should do is contact the authorities responsible for zoning within that jurisdiction. This is information that is available to everybody. Once you get the information you need, you will know whether purchasing the parcel of land is the right thing to do based on the intended use.
In total, there are five general zoning classifications. They include industrial, residential, commercial, mixed use and agricultural zoning. If you intend to build a block of residential apartments after purchasing your parcel, you should ensure the area is zoned as residential and not agricultural or any other classification. Just do your due diligence by inquiring about all this beforehand.
Another critical concern is the topography and general geology of the area. It is no secret that Florida has a vast limestone base beneath its topography. You want to purchase a piece that has the least chance of developing sinkholes. Other topographical aspects to look at include the presence of ravines, cliffs and flood prone sectors. Topography is especially critical as it has a direct impact on the feasibility of constructing buildings.
Nowadays, you can do all the inspection you need without having to be on site in person. There are many free online tools to choose from, with Google Earth being one of the renowned options. This notwithstanding, you will require a good internet connection to view topographical features such as cliffs and hills clearly.
Another vital aspect you ought to look at is taxation. This is usually calculated on an annual basis and is based on the value of the property in question. Large parcels attract higher taxation rates than smaller ones. The local authorities should furnish you with all the information you need on inquiry. Nonetheless, the rates in most regions in the US range from 1 to 4 percent of the related property value.
Lastly, you want to ensure the property lies close to the public utilities in the area so as to maximize its resale value. The only exception is if you intend to use it for off grid living. Public utilities to expect include sewer lines, water reservoirs and electricity.
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