4 Common Mistakes to Avoid When Buying Land in Harrisburg. Savvy real estate investors who seek to diversify their portfolios understand the potential returns and the unlimited number of creative uses that land can offer. Often, these entrepreneurial investors combine other business interests with creating wealth through their real estate investments and develop a parcel of land to grow their business further.
Whatever your investment strategy may be, you should have a plan that you follow step by step before ever looking at any land to avoid making a mistake that could be financially devastating. Regrettably, history tends to repeat itself. Therefore, it’s wise to enter this venture with a keen awareness of land investor errors, learning from the errors of others instead of your own. So read on as we explore these four common mistakes to avoid when buying land in Harrisburg.
Make sure to confirm the land you are contemplating on buying is indeed a residential or commercial build able lot. The worse thing to happen would be to purchase raw land that you cannot build upon.
Once it is confirmed that you can build upon the land then you will want to hire an architect to draw up the plans of your residential or commercial property to present to the local code enforcers and permit and licensing division of that particular county in that state.
Next check with the local code enforcement, permit and inspections division to prepare a list of all permits to obtain prior to entertaining a purchase. Determine the costs per permit and the length of time it normally requires to obtain each permit.
Financing
When buying land in Harrisburg, a common mistake is shopping without the available funds to purchase and develop the property or arranging to finance with a lender. This scenario can lead to an emotional letdown as you realize you’re looking at properties that are out of your price range. A great way to avoid such an experience is by starting your property search with highly seasoned local professional investors like those at Tristate Holdings 167, who will help guide you to various financing options. In addition, a professional investor from Tristate Holdings 167 can help you examine your financial situation and understand the development costs. When you work with a professional investor from Tristate Holdings 167, you’ll know how much you can afford to spend on the land, hold the property and still bring your plans for the parcel to fruition.
Not A Profitable Investment
Failing to select the right location that will return the highest profit on your investment dollar is one of the common mistakes to avoid when buying land in Harrisburg. However, a professional investor like those at Tristate Holdings 167 will help you understand the long-term value of the land and how its location affects your intended plans; for example, if you are building a manufacturing facility, is the location close to major thoroughfares.
Not A Fact-Based Decision
Even for highly experienced land sales and familiar with the market, buying land without first performing a feasibility study and then following up with a CAD or critical area designation study is an all too common mistake when buying land in Harrisburg. Regrettably, these owners will be sticking themselves with a piece of land that they will likely be unable to sell quickly and cannot develop. You can avoid this costly misstep by working with a professional investor experienced in land sales and development, who will help you perform due diligence and run the numbers like those at Tristate Holdings 167.Â
Going It Alone
Failing to work with a network of the most highly regarded pros in the land industry to help bring your vision to light is one of the biggest mistakes to avoid when buying land in Harrisburg. Working with a professional investor like those at Tristate Holdings 167 can save you valuable time by zeroing in on the right property for your budget. In addition, we will save you money because at Tristate Holdings 167, our professional investors never charge commissions. Helping investors like you earn the highest possible returns on your real estate investments is our motivation at Tristate Holdings 167. And don’t forget to ask about our current inventory of the best investment land available in Harrisburg.
You will want to align yourself with a local builder who is familiar with the local laws and permits to pull in order to pass inspections. Failing to hire such a person with local expertise can cause you to conduct the same job over twice if you have to go back and redo everything done initially in order to bring it up to the local county’s code.
When you work with Tristate Holdings 167, you work with a full-service team that moves swiftly to handle everything for our investors while explaining the process step by step; we make the land investment process easy. Call Tristate Holdings 167 Inc. at 1-(888) 788-7478.
Tristate Holdings 167 is a team of Cash Home Buyers. We Buy Harrisburg Houses and the following surrounding areas of Harrisburg, Pennsylvania, (Allison Hill, City Island, Downtown, East Harrisburg, Midtown, South Harrisburg, Uptown, Progess, Colonial Park, Hershey, Elizabethtown, Carlisle, York, Lebanon, Columbia, Hanover, Lancaster, Ephrata, Sunbury, Pottsville, Chambersburg), and surrounding areas of Pennsylvania.
Whether you are trying to avoid foreclosure, inherited a property you do not want, dealing with a divorce, or are fed up being a landlord dealing with tenants, we can help. If you need to Sell Your Harrisburg House Fast, we offer Cash For Homes in Harrisburg Pennsylvania!