Spotted land for sale in Leeds and want to buy? Read this article first!
Buying land and building your own home is a dream for many. Before you take the plunge and invest in land however, it’s very important that you do your research and are fully aware of the risks as well as the potential benefits. Everyone wants to make sure their investment is sound, so follow our top tips to ensure that you don’t lose out.
How to find a plot
If you’re a self builder then you can make use of various building plot databases that have been created with people like yourself in mind. These databases list local land sale opportunities, often presenting you with a map so you can easily see where plots are available.
Other places where you can find opportunities include reputable agencies like WTS Land, land auctions, local builders who may subsidise their contracting work with small developments, local authorities and utility companies who sometimes sell off land at auctions, developer plots, and even word of mouth.
Always be wary of adverts promising cheap land for sale – it’s sensible to remain cautious and remember that if an offer appears too good to be true, then there’s a chance it is and you will be at best disappointed and at worst out of pocket.
Organisation is the key to a successful land purchase and it is vital that you keep accurate records of all the information and data that you gather during your search. Setting up a spreadsheet is an excellent way of staying organised and there are a number of different columns that you could potentially include in the sheet – for example: the name of the plot, the address, the date you discovered it and/or the date it came onto the market, the size, and what its planning permission status is. You could also include columns linking to a website where the land is listed, and even to the Google Map page showing its location and map coordinates.
Incorporating a colour code system will help keep things clear – for example if a plot has already been sold, you might colour this in red, plots on your ‘maybe’ list orange, and land you’re definitely interested in, green.
Do your research
Land that you’ve shortlisted, and its surrounding area, needs to be thoroughly researched before you even think about making an offer. Initial research can be conducted from the comfort of your own home, simply using a laptop – there’s a wealth of information available online that will provide you with valuable insight into the area you’re considering, such as details about the neighbourhood, nearby amenities, and geographical features. Online searches can help you rule out plots that don’t meet your criteria early on in your search and save you wasting time and money on visiting them.
When you’ve weeded out the non-desirable plots, it’s time for a site visit. This will provide you with much more information and allow you to visualise the opportunities offered by the plot. After the visit, you should continue your research by checking the price and making certain that it’s within budget, as well as gathering information about the plot’s planning history and permission status. You should also start conducting more detailed online research to find out information about such issues as whether the land is or has been contaminated, whether tree preservation orders are in place, whether there are any flood risks etc. It may be necessary for you to hire a specialist at this point, to investigate such issues as ground conditions and excavations. Issues like this need to be identified promptly, as such problems can cause huge frustration and expense further down the line.
Purchasing the land
There are a number of ways in which you could be buying the land, depending on how you found it, and the vendor. You might be bidding on the land at an auction, using an agent to negotiate the price, buying privately or submitting sealed bids. Whichever way you’re purchasing, it’s advisable to secure the services of a legal adviser who will be able to investigate any legal issues before completion – of course, if you’re buying at auction this will need to be done well in advance.
Buying land can be a tricky process but if you follow the advice given above, things should go smoothly.
If you are looking for excellent land investment opportunities, be sure to browse WTS Land’s available plots today. Whether you’re looking for development land in London, land for sale in Leeds or investment sites with development potential, WTS Land can help.