Is the land contaminated with hazardous wastes or encumbered by environmental regulations?
“If you are buying vacant land, you should get an environmental analysis. If [the land is] within a subdivision, the integrity of the environmental situation probably has already been checked out,” says Vogel. Be sure to investigate whether any garbage dumps, underground gasoline or oil storage tanks or other environmentally dubious situations affect the property. 5. What criteria are important for purchasing land as an investment? Real estate market trends, growth projections and the pace of new construction in the area are some of the economic considerations of buying land for investment purposes. “[The notion that] making money in land is easy is a misconception. It’s risky and speculative,” says Vogel. “There are true opportunities; it’s just that land generally entails a greater risk and a greater reward.” More information: Home is not just a house What about zoning restrictions?
Related Questions
- Why not depend on "smart growth" zoning, environmental laws, or other government regulations to assure that land with significant conservation values is protected?
- Who is legally responsible for meeting environmental regulations during a harvest on my land?
- Is the land contaminated with hazardous wastes or encumbered by environmental regulations?
