Land – “Buy land, they’re not making it anymore” but be careful ….
We have all heard the famous quote by Mark Twain :
“Buy land, they're not making it anymore”
Well that may be true but you certainly need to be careful…
Recently I have seen a couple of interesting situations.
1. I had a prospect call me saying that they wanted 5-10 acres for less than 100K and wanted to build within a few months.
Talk about a can of worms. They were looking at raw land… no power, access is questionable (many areas require a minimum distance of roadway to allow a driveway), no water, no septic…. Do you get the point?
2. I am seeing agents advertise land in areas that is not that desirable when the purchasers will go to resell…
Here is the scenario, the land is beautiful but the remote location makes it less than desirable. Ask yourself this question: "how far is it to get a gallon of milk?"…. If you are new to the area you could end up purchasing a piece of land that is truly over-priced, even though it is beautiful.
Sometimes I see a remote farm being broken up for resale and I always ask why? Would it not resell as a farm, or is it simple the owner trying to cash in…
Mark Twain was a wise man and they may not be making land anymore but you should consider a good Buyers Agent if you are looking to purchase land. One that knows the are and the pros and cons regarding building.
Brought to you by that guy who sells Charlottesville VA Real Estate
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