7 Useful Things You Should Know Before Buying Land - Total Mortgage

Abstract

Is buying land a good investment? In most cases, the answer is yes - as long as you're properly prepared. To ensure you're making an informed decision, we've outlined our top seven tips to know before purchasing land. Know what to look out for in raw land "Raw land" is a catch-all term for undeveloped or unused land. Prepare for a trickier loan process In general, buying land is harder than buying a house. Remember to factor in taxes Unless you're planning to turn land investing into a full-time business, taxes may present a bit of an obstacle to your plans. Vacant land insurance is another great way to protect yourself, and costs are low when compared to insurance for occupied properties. Learn Your Investment Options With Total Mortgage Land ownership can be a great investment as long as you enter the deal with an awareness of all of the risks and pitfalls involved.