How do you make sure you buy the right piece of land? Between the land itself, the all-important location, and budget limitations, there are a lot of variables to consider. It’s quite a balancing act. For most of us, landbuying is an emotional experience. How often have you heard someone say that they “fell in love” with a piece of property? It’s easy to get swept up in the whirlwind of becoming a landowner, looking ahead to how you plan to use your real estate. That can be exciting and wonderful. But when the love-at-first-sight magic is happening, it’s easy to lose track of what’s truly important to you.
And while there’s certainly nothing wrong with enjoying the process, it’s important not to let your excitement interfere with making a smart buy. That’s why the land specialists at Mossy Oak Properties recommend heading into the buying process with your eyes wide open and your specific goals in mind.
“When we meet a first-time land buyer, we try to sit down with them and go over what their goals are,” said Terrell Brazell, owner and broker of Mossy Oak Properties Coastal Land and Real Estate in St. Marys, Georgia. “We need to set basic priorities, prioritize what they want to do with the property, get them to help us understand exactly what they’re looking for and try to fit that into a budget.”
Defining Needs and Wants
If you’re buying land, chances are it’s for a specific purpose. With that in mind, it’s vital to differentiate between what you want and what you need. Remember, your wants are flexible, needs are essential, and must-haves are nonnegotiable.
For instance, if you’re in the market for hunting land, you should have an idea of the requirements you want the land to fulfill. The same goes for farmland and other types of rural real estate.
Wants are features or amenities that would enhance your quality of life, yet others are crucial for your purpose. The latter features should be put at the forefront; these are the top priorities among your needs and ensure the land meets your minimum criteria.
Stay Within Your Budget
You may find yourself falling head over heels for a particular parcel of land. However, if it doesn’t fit your budget, this is one love affair that could break your bank account’s heart.
“We know the market, we know what buyers can get for the money that they want to spend, and we have to help configure what they want with what they can actually acquire, and help them be very realistic with that” Brazell continued.
Take a Helping Hand
Buying and selling a land requires some help — and that starts with getting the right professionals on board.
It’s for these and other reasons that most land buyers get the right professionals on board to help them meet their goals.
First, a land specialist will be able to walk you through the pros and cons of different pieces of land, highlighting whether certain parcels fit your requirements. This will help ensure your investment pays off and reduces the chance of you heading home with a major case of buyer’s remorse.
Additionally, land brokers will be able to help you stay within your budget, and even spotlight ways to achieve your objectives without emptying your wallet.
“It’s one thing if you show somebody property that may be out of their reach financially,” Brazell said. “We can help show them how to get there with a smaller piece of property and create what they want if they can’t afford to buy it now.”
Article contribution by Mossy Oak Properties. The Mossy Oak Properties land brokerage network was launched in 2003 and has since grown to over 100 franchised brokerages in 30 states throughout the country.
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