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What to do when purchasing land?

What to do when purchasing land?

What factors should you consider when purchasing land?

Before any property development can get underway, land research is where the groundwork begins. There are numerous factors that can affect the current and future value of the land you may be interested in purchasing.

“With our development finance, we can quickly provide you with the funds needed to purchase land before it increases in value or has been purchased by another property developer.”

Land research is fundamentally important depending on where you want to begin your property development. At Hunter Finance, we can provide dependable development finance for popular counties such as Hertfordshire, Essex and Hampshire.

What should I do before purchasing land in the south of England?

1) Begin to understand the value of the land market

Understanding the land value market is incredibly important before committing to a land purchase. Like any other industry or market, it’s always worth browsing around and comparing prices for acres of land so you begin to understand why certain land values differ from one another.

2) Focus on areas that have growth potential

Land value can be heavily influenced and affected by the area it’s in. When researching for potential land to buy, take a step back and assess the area and whether land and home values are likely to improve. Factors such as schools and transport links can have a surprising effect on home value. Read more here.

3) Have the land surveyed

No matter how good the land may appear, we strongly recommend that you organise a land surveyor to assess the land you plan on purchasing. A land surveyor will assess the land for flood risks, its boundaries and any other potential problems that could arise. There are various sites that can help get you in contact with the right surveyor today.

4) Planning Permission needed

During land research, you may notice that some land is sold with planning the permission. Planning permission is vital to ensure that your property development can go ahead. If you plan on purchasing land before its received planning permission, we recommend involving a solicitor to ensure that you can secure the plans before moving ahead.

If you’re unsure about the process of property development, our free guide is here to explain each phase. Our development finance guide is also designed to explain the finances of property development.

For more information, contact Hunter Finance on 01825749721 or fill out an online form and we’ll get back to you as soon as possible.

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    Property development Process Guide

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