Nowadays, buying a plot of land is one of the most common real estate investments. Financially, it is very attractive, but you should know that it brings with it certain advantages and several challenges compared to buying a house that has already been built.
Before buying a plot of land, you need to know and take into account details, not only about the design of your dream home, but also about the environment, regulations and restrictions.
These are the advantages of buying a plot of land:
The first, and most valued, is the freedom and flexibility it offers. As long as you comply with local zoning regulations and respect building codes, you can build a custom home. And, for many families, starting this vital project from scratch fills them with pride.
The house will be totally personalised. You can decide on the materials, colours, design and even the location. In this way, the house can be built where it is most convenient and in an area that is attractive to everyone.
In addition, buying a plot of land is usually cheaper than buying a house that has already been built. Thus, the first step is more accessible and simpler. However, all the costs involved in each of the two options must be weighed up carefully.
The best thing about buying a plot of land is that, to a large extent, these costs can be controlled. Being a house designed from scratch, you can build a more energy efficient house, from an energetic point of view, and bet on quality materials that will mean less expenses in repairs in the short term.
These are the disadvantages of buying land:
Buying a plot of land is a big investment and, like any of them, it must be valued well. Beyond the dream of living in a unique house, there are certain aspects to take into account in the planning.
For example, it is necessary to verify the regulations and legislation in force in the area and check if, for example, the land has access to essential public services such as water, sewage, electricity or gas. Also, be aware that building a house takes time, many decisions and a lot of effort.
Sometimes, accessing financing for undeveloped land is more complex. At the same time, it should not be forgotten that buying it carries an associated investment risk because, after all, the value of that land can change depending on various external factors.
Although the initial purchase price of a plot of land is usually very attractive, it is necessary to get out the calculator and know precisely how much it will cost to build the house. After that first moment, there are more associated costs such as clearing the land, preparing the ground for construction, levelling the ground, buying materials and labour, etc.
The best thing to do is always to get advice from experts in each material who can check on environmental restrictions, how to improve the soil and other factors and help you to avoid many unforeseen events. All these professionals will increase your initial budget.
In short, buying a plot of land is a real estate investment for the future (and with a future). If you are looking for the best plot on which to build the house of your dreams, consult the extensive catalogue of land for sale.
