If you are interested in investing in rural or undeveloped land in California, the first thing you should do is contact an experienced real estate attorney at The Law Office of Retz & Aldover LLP. Many in search of a prosperous real estate investment in California turn to buying land as, unlike homes in California’s real estate market, land never loses value no matter what happens to the economy. Additionally, the purchase of raw land offers an endless number of possibilities regarding future development and investment opportunities.
Important Issues Related to Purchasing Rural or Undeveloped Land:
- Buying rural land presents the opportunity to experience notable financial increases. It may take patience, but eventually, it’s extremely likely that local government agencies will wish to develop the land with the owner’s agreement.
- Purchasing undeveloped land can also present the opportunity for significant financial gains, as the property owner will have the benefit of the 30% adjustment in property taxes that comes when preserving the land. This is due to the support of land conservation laws that are in place promoting keeping land idle.
- Rural land investment comes with fewer complications than urban land development. You still need to be aware of applicable legal stipulations and future plans pertaining to the area in which you wish to purchase. For example, knowing whether or not the rural land you are considering purchasing is in an area planned for future agricultural use would lead your future development in a much different direction than if the proposed purchase was amidst land set aside for future residential development. Knowing future plans for the area would give you an idea of what types of structures and development will be permitted and what type of activity will be occurring in the surrounding area.
When making any land purchase, it is absolutely vital that you know the laws pertaining to the purchase agreement and the property being purchased. Be an informed buyer and be completely sure that you are making the right decision. For most, the purchase of rural or undeveloped land is a long term investment. Make sure you are in it for the long haul before you sign anything.
Get in touch with the land use and development attorneys at the Law Office of Retz & Aldover LLP today and we’ll make sure you have the correct information and documentation to complete your rural and/or undeveloped land purchase.