MISTAKES TO AVOID WHEN BUYING YOUR FIRST PIECE OF LAND
Buying land is a great and worthy investment. It is everyone’s sure bet and dream. The market we have today is looming with a lot of cartels who want to make money by selling counterfeit land to people. This calls for careful consideration and checking every step. Be safe than sorry. We have compiled for you some of the things to look out for.
Not checking the developers’ credibility
Knowing the company’s director is a great start to the land buying process. We can bet that you would not want to buy a property from a vendor with directors in bad books. We all want to get value for our money. This also helps you establish whether a company is registered/licensed by the relevant authority or not. Does your developer have a good record in selling land and treating customers well? It is important to get your facts straight so as to avoid dealing with a land vendor who will land you into problems in the future. This will also give you an idea of what kind of projects the vendor deals with. You would not risk buying land to build a house to live in for the lifetime and getting your neighbors building pig style and bars next to you.
Blindly following the crowd
Most people buy land because it serves them a certain purpose. Buying land because others are buying is a big NO or people of the same community are buying land there. Plan on where to live with what matters to you most especially if you plan to live there for a long time.
Not reading the contract
At this age and era, you can sign contracts that will get you in trouble just because you did not read the contract. Knowing what your vendor wants from you is a sign of trust and also enables you to find out whether the land you are investing in is safe or not. Contracts also depend on what kind of structures you would want to put onto the land. Some lands are controlled and others are for commercial use.
Future Functionality
If you plan on having a bigger family in the future getting a bigger piece of land is essential. A bigger piece of land enables you to be able to build a house that will be enough for your whole family.
Getting the location wrong
Buying land close to your office, school and even hospital is a plus. A land far away from the center can make life difficult. Putting all these issues in mind will make you have an informed decision on the land you want to buy. makes no economic sense to buy land far away from your basic needs just because maybe the land is cheap. You do not have to travel miles to get to the nearest hospital, shopping center or even school. Look for this places before you consider buying a piece of land to build a home.
Overlooking closing costs
Buying land is not only paying the amount that is indicated and calling it a done deal. There are other costs that are included in the whole process like the title deed processing, maintenance costs, and charges, stamp duty fees.
As a first time buyer be informed so that you avoid making mistakes that can lead to even illnesses. You would rather buy land and wait than wait to buy land but be safe in the piece of land that you want to buy
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