“It is a comfortable feeling to know that you stand on your own ground. Land is about the only thing that can’t fly away.” – Anthony Trollope
Even with the rise of buying virtual land in the Metaverse, this quote is still very much true today. Whether you are expanding and diversifying your investment portfolio or have decided to start a homestead, a land investment is one of the most sound investments you can make.
Deciding to buy land in Texas is quite similar to making a residential purchase. But, what is the process when deciding to purchase in the increasingly common digital world?
Before, considering a land purchase may have resulted from knowing first hand a piece of land was available and calling the number on the sign, or simply getting with a trusted realtor and going from there. Both are still plausible ways, but adding digital components opens up to another level of buying opportunities, including comparing features and trimming down the search before stepping foot out the door. It also allows you to purchase land not only locally but virtually anywhere.
Here are a few other things to consider when deciding to pursue land for sale in Texas.
Make a plan
A goal without a plan is destined to get you nowhere and fast. When deciding to invest in land in Texas, it is best to take some time to answer a few questions.
Is there a specific area in Texas that you have in mind? Determining a location may be easier if you have a solid idea of your intentions for the land.
Do you plan to build a home in the future, start a homestead, pass it along to your children and grandchildren, or are you seeking to invest in undeveloped land with intentions to hold for appreciation and possibly sell in the future?
Defining your intentions for your investment is key to a solid start in your search.
Know the area you want to buy in
If you are purchasing locally in Texas, you may have a solid idea of specific areas and how you may feel they can best serve you. More research may be required if you are buying from beyond the Texas borders.
However, the digital world makes this easier.
Ideally, go back to why you are interested in purchasing land in Texas. From there, research the best areas in Texas to accommodate your interest, whether they are sporting interests, such as hunting and fishing, or upcoming developments that may be areas that serve as an excellent investment with a profitable return. Use the filters of your interest to pinpoint your ideal area.
Have financing in order
Unless you are purchasing land for sale in Texas by cash, it is necessary to explore your financing options. Will you be reaching out to a bank for conventional financing or securing funding through a private lender?
Accessing your credit and financial situation will determine if the traditional banking route is best. If you are making an investment as a company and looking to partner with a financial partner that allows you to close the deal quickly without the maximum requirements, perhaps a private money lender is an idea.
Additionally, there is also the option of owner financing. This could be an option if neither of the above routes is available for your land purchase.
Know the land
Land in Texas can be continuous, rugged, and appear undefinable. But, it can indeed be defined, and obtaining the survey or land for sale in Texas is necessary when looking. Know the land and any applicable restrictions before the purchase, as this can help determine if it’s the best fit for your plans.
Walk the property if possible
Even if you are purchasing from beyond Texas. If possible, visit the area and the particular piece of land you intend to purchase. You are already familiar with and making a substantial purchase, and sight unseen should be avoided at all costs. If you can physically visit the land beforehand, consider employing a set of eyes that you trust and can rely on to see on your behalf.
Request Environmental assessments
Once again, it is pertinent that you know nearly everything possible to know before you buy land in Texas, or anywhere for that matter.
Be sure to contact the local FEMA office or the office responsible for the area of interest to request the environmental assessments to check for floodplains. Knowing this information is pertinent to your purchase decision as it can affect your insurance.
You can learn more about how to stay safe when buying land online by checking out this article!
Deciding to acquire land for sale in Texas is a great idea. Whether you want to build a dream home or add to your family legacy so your grandchildren will know and understand the values of the American dream. The best place to get started with your search for land for sale in Texas is right here.