Have you decided to purchase a land unit? It is important to note whether planning is being done for the land
It is also important to examine the plans that apply to the land at the local, district and national levels. Planning information about the outline plans is information that is available to the public and can be found on the Planning Director’s website. Even if you find that there is a plan of one sort or another, you must check what the status is – that is, whether it is a plan that is in the process of being approved or a plan that has long been approved. Sometimes reading plans can be a bit complicated for those who do not possess a background in the field. In such a case, it is definitely worth your while to seek help from professionals who work in the field and know how to read the plans professionally.
The planning issue also affects two main parameters pertaining to the transaction. One is the issue of time, and the other is the issue of value. It can be said with a high level of probability that land that is already in the middle of some planning process, ie land intended for thawing, is land that will be developed in a shorter period of time than land to which no planning process applies. Additionally, the planning issue conveys value to the land, since the plan sets a zoning use designation, for the land or at least defines that the area is indeed intended for development and it is not an area that lacks designation or future development.
You should also check in the outline plans if there are any factors that may prevent thawing. Such factors can be, for example, the proximity of the land to a military base, to the route of a stream or to the route of a road. Most land buyers are unaware that the planning commissions require space between certain uses and residential areas. In addition, certain factors may affect the future planning of the land, for example proximity to aviation areas creates a height limit for buildings being built in the area. Sometimes removing the factor removes the limit and you can enjoy easier planning.
Many companies market land units at enticing prices. Many buyers and even experienced investors who perform land investments are tempted to purchase these lands without in-depth scrutiny of the descriptive plans applicable to these lands. These are often agricultural lands or those that have no future or expected value for planning. Therefore, it is advisable to purchase from companies that deal with land that is in some planning process. It is also important to examine the level of professionalism and skill of the company from which you are purchasing, since dealing in the field of land requires a great deal of experience, skill and knowledge in matters relating to planning and construction.
Do you have more questions? Contact us and we will be happy to help