Finding the perfect piece of property to purchase can be a challenge, especially if it’s far away. When this is the case, there’s added pressure for a number of reasons. Mostly, because you need to travel to the location to ensure the property is exactly what you want. If you find yourself in this sticky situation, here are three tips to help the process go smoothly.
Do Your Homework
When traveling to find the right property, you’ll want to make sure you come prepared. Do all the research you can on the properties you’re planning to see. This way, you’ll feel ready for anything that may arise once you’re on location.
According to BuildingAdvisor.com, there are many questions you’re going to want to have answered before you buy a piece of property. Some of these questions include if the lot is buildable, if it has access to utilities, if there are association fees, and more. These questions may need to be answered by various departments like the Building Department, Planning and Zoning Department, and the Health Department.
Knowing what to ask, who to ask, and where to find them is vital in getting all the information you can about a property. By doing your homework, you’ll save yourself a lot of time and trouble on your trip.
See the Sights
This purchase isn’t just about the property – it’s also about the area in general. If you’re buying property for residential purposes, you’ll want to ensure that the area is one that you’d enjoy living in. Consider what it is you’re looking for and make sure this property has it. Look for schools, community centers, shopping areas, etc. If this is a commercial property, make sure it’s easily accessible, large enough for your needs, and in a part of town that’s safe. If possible, taking a tour of the area will give you a great idea for what this location has to offer. This could be a driving tour, bus tour, sky tour, or even a boat tour.
Because the value of real estate is always changing and varies depending on location, it’s vital for you to do an apples-to-apples comparison of any property you’re considering purchasing while on location. Being there allows you the opportunity to talk to people about the prices and reasoning behind them.
When comparing these prices, Mary Fenton of Demand Media, contributor for SFGate.com, suggests using specific criteria for your comparison, consulting with local real estate agents to get a consensus, and having a comparative market analysis done for you to reference when necessary. By doing these three things, Fenton says you should feel confident you can submit an accurate and fair offer once you find the property you would like to purchase.
Buying property is a big decision, and one that you don’t want to take lightly. And while making this purchase while traveling might seem daunting, if you follow the tips mentioned above, you can rest assured knowing you’ve done enough research and seen enough of both the property and area to be making an informed decision.