When looking to invest in real estate, few people ever consider the prospect of buying vacant land. For many, real estate means buying developed property that is bound to bring in a steady stream of cash. However, one of the core benefits of buying vacant land is that you get to decide what kind of investment project to use it for. Here then are some of the considerations you should bear in mind as you look for land for sale in Okeechobee FL.
For starters, you want to find out what the zoning laws in the area state. According to official figures, a significant part of Florida consists of urban areas. This has led to different zoning laws in various areas, for instance Okeechobee. These laws give guidance on land use by area.
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.
Zoning classification usually covers five areas. This includes residential, commercial, agricultural, industrial and mixed usage. Each of these classifications only permits the construction of specific types of properties. For this reason, you might want to ask the department what kinds of buildings you will be allowed to construct.
Geology and topography are also serious aspects to consider. Florida is generally known to have a significant proportion of subsurface limestone. In this regard, you might want to choose a parcel that is highly unlikely to develop sinkholes. In the same manner, you should inspect the area for cliffs, flood zones and ravines. If you were to get a parcel that has a significantly steep topography, it may be difficult to carry out any construction work on it.
These days, many people inspect properties that they wish to purchase from the comfort of their homes. This is thanks to the availability of many free web based tools that offer easy remote viewing, a case in point being Google Earth. Just make sure your internet connection is strong enough to display satellite images accurately, more so when looking at hills and cliffs.
Taxation is a major thing to consider too. Taxation rates are often calculated annually based on property value. As such, large pieces often draw higher tax rates than smaller ones. This is something that you should be able to get information on from the local administration. Needless to say, the annual rates in many areas in America fall in the range of one to four percent of the total property value.
Finally, make sure there are public utilities near the property in order to maintain its appreciative value. The only time you should not bother about this is if you plan to go off grid. Some of the utilities to watch out for include piped water, electricity and sewer lines.
For starters, you want to find out what the zoning laws in the area state. According to official figures, a significant part of Florida consists of urban areas. This has led to different zoning laws in various areas, for instance Okeechobee. These laws give guidance on land use by area.
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.
Zoning classification usually covers five areas. This includes residential, commercial, agricultural, industrial and mixed usage. Each of these classifications only permits the construction of specific types of properties. For this reason, you might want to ask the department what kinds of buildings you will be allowed to construct.
Geology and topography are also serious aspects to consider. Florida is generally known to have a significant proportion of subsurface limestone. In this regard, you might want to choose a parcel that is highly unlikely to develop sinkholes. In the same manner, you should inspect the area for cliffs, flood zones and ravines. If you were to get a parcel that has a significantly steep topography, it may be difficult to carry out any construction work on it.
These days, many people inspect properties that they wish to purchase from the comfort of their homes. This is thanks to the availability of many free web based tools that offer easy remote viewing, a case in point being Google Earth. Just make sure your internet connection is strong enough to display satellite images accurately, more so when looking at hills and cliffs.
Taxation is a major thing to consider too. Taxation rates are often calculated annually based on property value. As such, large pieces often draw higher tax rates than smaller ones. This is something that you should be able to get information on from the local administration. Needless to say, the annual rates in many areas in America fall in the range of one to four percent of the total property value.
Finally, make sure there are public utilities near the property in order to maintain its appreciative value. The only time you should not bother about this is if you plan to go off grid. Some of the utilities to watch out for include piped water, electricity and sewer lines.
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