What is land development? Land development is the process of making improvements to a piece of land. Getting into land development can be a lucrative path for building wealth in real estate. With land development, you are executing a business plan to create forced appreciation.
– What can I build on this property? – What are potential uses? – What are the zoning requirements? – What are the zoning constraints and setbacks?
Knowing that researching land use will be different in every jurisdiction, there are still the same basic resources you can tap into in each area. These resources you can tap into are:
– Zoning Maps – Most jurisdictions have a map available online – GIS – Some jurisdictions have Geographic Information Systems – Zoning Code – You can access the zoning code online for a jurisdiction – Surveyor – Surveyors have a deep knowledge of the zoning codes in the areas they work in. – Real Estate Attorney – they will be able to help you navigate the zoning laws for conforming use. – Zoning Office – Asking questions can be a wealth of knowledge.
As part of your due diligence on land, you will want to have environmental studies completed before you purchase it. You will do this during the due diligence period of your contract to purchase.