Finding the right development space

Many people are choosing to buy land to build on rather than scale up the market. The advantage of this is that with the right land there is the opportunity to create a dream home, tailored to exact needs. The downside being that land can be scarce with fierce competition from large property developers and builders but securing land could be a cheaper investment than moving up the chain in the open market. Here are some tips to finding the right plot.

1) An open mind is essential

Just like finding the perfect property, finding the perfect plot can be just as elusive. Keeping an open mind therefore is an essential part of plot buying and adapting your wish list might be necessary in order to get a plot that ticks most of the requirements. Having a list of must haves and nice to haves is usually a good way of eliminating what is non negotiable and what could be lived without or adapted.

2) Know the area and study it

Buying a plot without knowing the area could be a risky strategy. It is worthwhile spending some time studying maps and getting to know somewhere first before committing to any land purchase. It is also a good idea to be familiar with the council and their procedures and understanding planning laws to get an idea of what would and wouldn’t be acceptable. Buying land that then can’t be developed could end in disaster so knowing limitations is important.

Looking at what has been approved in the area and even visiting the occupants to find out how onerous the process was might stand a person in good stead when it comes to submitting an application.

3) Get to know local agents and attend property auctions

Finding out which estate agents could be useful in the future is also a good idea for building knowledge in securing the right plot. Getting to know them could mean they help you find land quicker than alone and also means being aware of any forthcoming auctions. Selling houses is far more lucrative for most agents so knowing the right agencies that specialise in land is also essential, avoiding upsetting any existing builder relationships that might be in place. It’s also worth getting to know independent brokers as they might be far more useful in securing a one off deal.

Getting the right land as oppose to the next property might be more unusual but not impossible. Making the right contacts and being clear about expectations and what is required should be a great start to securing a land plot that is both feasible and fulfils all the requirements needed.