Buying a piece of land is a worthy investment, due to its level of value appreciation. As attractive as the investment is, it is important you follow the right steps to ensure you get good value for your money.
- The configuration of land. If you are buying land near water bodies, it is advisable to consult soil and safety experts who will advise you on the suitability of that land for building construction in line with government regulations and safety guidelines. For a water locked land, you should be prepared to spend a great deal of funds in the foundation.
- Availability of facilities. When buying land, check if there are provisions for water and electricity. If you have to construct your own borehole, then the cost associated with doing this which should be deducted from the cost of the land. You should also make sure that the area has electricity before paying for the land.
- Easily accessible roads. Ensure that the property has good access roads . When buying previously unoccupied land, make sure that access roads are clearly indicated on the survey plan. If you are going to be involved in the maintenance of these roads, make adequate preparation for this in your budget.
- Purpose of Allocation. Ensure to verify the purpose of the land you are buying. Some are allocated for commercial purposes, and should not have a residential structure on it. This has led to demolition of such buildings by relevant regulatory agencies. Investigation and verification can be done at the land registry.