subject: Preparing To Invest In Property? [print this page] Finance, documentation and legal matters are critical components in the process of buying a home . Property investors also need to evaluate returns and repayment of loan. Here is some of the major issues involved.
The first consideration when purchasing property, whether commercial or residential, is location. Depending on the intended use of the plot of land or building, you will be able to ascertain whether it is easily accessible to major roads and public transit, and whether it is close to amenities such as shopping malls, apartment complexes, recreational facilities, schools, and industrial belts. Also, find out if the property has easy access to utilities such as electricity and water.
Another crucial factor is development potential. Before buying a plot of land, you must determine whether it is possible to build upon it. A piece of land may be in a prime location , but you will lose the value of your investment if you discover that you cannot build upon it until after you buy it.
Factors that influence buildability include the quality of the soil and the general topography. Will the soil support the foundation of whatever structure you intend to build on the property? Is there sufficient drainage or is the land susceptible to flooding? Is there easy access to a sewage system? These are all essential questions for which the answers should be obtained before you complete your purchase.
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