There is but one great and royal road to buying land and especialy in the wilds of your great and wonderful area.
As I have said before up to Julian, up to Ramona up 78. Look underneath that dam to your left. 5 acre parcels 10 acre parcels and even more where you find them. Just get it and then cluster of three to five houses off the end of little country roads. The idiots passed a law. No more subdividing. Oh what a wonderful chance to get rich. Come on Vatto get rolling. If you don't I will!!
1) you build something on it
2) It becomes more desirable because somebody else builds something next to it.
3) general appreciation
4) you divide it into smaller parcels or aggregate it into bigger parcels which are more desirable in the market
5)You discover gold (or some other resource) underneath it
In the meantime you have to pay the taxes and the mortgage (if you have one) while you wait.
of the above 1) and 4) are inside your control the others are the result of the work of forces over which you have no control.
Back when I was a kid we all laughed at this old farmer down the road who sold 50 acres of his 500 acre farm for $500 per acre at a time when everybody knew it was worth $1500.
They built a shopping mall on it.
He sold the last of the 500 acres for well in excess of $50,000 per acre.
Theres a guy who understood the principles numbered 2 and 4 above.
There are many ways of answering your question, and just about all of them would require lengthy responses. I will try to summarize.
Getting land educated requires a combination of reading, asking lots of questions, much research and, yes, doing. It might be helpful for you to start with general background information unless you've already decided you want to pursue land for a particular type of development (eg, residential or commercial).
Each town, city or municipality enacts zoning, subdivision and land development ordinances. Zoning (through the ordinance and map) tells you what uses are permitted on a particular property and other things, including the minimum site or lot area in the various zoning districts, both residential and non-residential. The subdivision & development ordinance spells out how and if the parcel can be divided and developed, requirements for vertical improvements (like streets, curbs, sidewalks), contents of plan submissions, and other issues.
The local government may also adopt a master plan or comprehensive plan that lays out their "mission statement" of sorts for future land planning--growth and non-growth areas, utilities, transportation, current and proposed land uses, etc.
The value of land depends on how it can be used and what, if any, restrictions exist on future subdivision and development. Development potential, however, doesn't just mean taking a parcel and dividing it. It means being able to take a parcel and transform it so that it can be used in a different way. This transformation can be achieved with or without actually changing the zoning.
I would suggest you do some searching in the Forums and Articles to begin collecting information and education on land.
Thank you so much NancyChadwick, Lufos, and Commercialking for your advice. I'll continue reading and researching this subject further. I am thinking about buying a piece of land in the next thee-five months. I think that should give me enough time to get more education on this subject. Thank you all.
My Dear Vatto noh kahmi,
There is but one great and royal road to buying land and especialy in the wilds of your great and wonderful area.
As I have said before up to Julian, up to Ramona up 78. Look underneath that dam to your left. 5 acre parcels 10 acre parcels and even more where you find them. Just get it and then cluster of three to five houses off the end of little country roads. The idiots passed a law. No more subdividing. Oh what a wonderful chance to get rich. Come on Vatto get rolling. If you don't I will!!
Lucius 8-) 8-)
All you need to know about buying land in one easy lesson:
land produces no income. Therefore your only hope of profit is for it to increase in value.
Land increases in value due to five factors:
1) you build something on it
2) It becomes more desirable because somebody else builds something next to it.
3) general appreciation
4) you divide it into smaller parcels or aggregate it into bigger parcels which are more desirable in the market
5)You discover gold (or some other resource) underneath it
In the meantime you have to pay the taxes and the mortgage (if you have one) while you wait.
of the above 1) and 4) are inside your control the others are the result of the work of forces over which you have no control.
Back when I was a kid we all laughed at this old farmer down the road who sold 50 acres of his 500 acre farm for $500 per acre at a time when everybody knew it was worth $1500.
They built a shopping mall on it.
He sold the last of the 500 acres for well in excess of $50,000 per acre.
Theres a guy who understood the principles numbered 2 and 4 above.
There are many ways of answering your question, and just about all of them would require lengthy responses. I will try to summarize.
Getting land educated requires a combination of reading, asking lots of questions, much research and, yes, doing. It might be helpful for you to start with general background information unless you've already decided you want to pursue land for a particular type of development (eg, residential or commercial).
Each town, city or municipality enacts zoning, subdivision and land development ordinances. Zoning (through the ordinance and map) tells you what uses are permitted on a particular property and other things, including the minimum site or lot area in the various zoning districts, both residential and non-residential. The subdivision & development ordinance spells out how and if the parcel can be divided and developed, requirements for vertical improvements (like streets, curbs, sidewalks), contents of plan submissions, and other issues.
The local government may also adopt a master plan or comprehensive plan that lays out their "mission statement" of sorts for future land planning--growth and non-growth areas, utilities, transportation, current and proposed land uses, etc.
The value of land depends on how it can be used and what, if any, restrictions exist on future subdivision and development. Development potential, however, doesn't just mean taking a parcel and dividing it. It means being able to take a parcel and transform it so that it can be used in a different way. This transformation can be achieved with or without actually changing the zoning.
I would suggest you do some searching in the Forums and Articles to begin collecting information and education on land.
Thank you so much NancyChadwick, Lufos, and Commercialking for your advice. I'll continue reading and researching this subject further. I am thinking about buying a piece of land in the next thee-five months. I think that should give me enough time to get more education on this subject. Thank you all.
Savath