Buying vacant land can be exciting: that land is a blank palette just waiting for you to develop it however you want, offering seemingly endless possibilities and potentialities. But finding the perfect parcel of land for your specific needs can often be quite a challenge, not to mention the other difficulties that make buying land (the right land) more challenging than buying a house. That’s why it’s usually better to use an agent when buying raw land. So here are 5 reasons you need an agent when buying land in New Jersey.
1. Finding Land for Sale
It’s pretty easy to find homes for sale, several of which will likely tick all or most of the boxes on both your must-have and like-to-have lists. But when it comes to buying land in New Jersey, things get a little trickier.
You can, of course, find possible parcels of land in the standard places – classifieds, Craigslist, and online platforms. The problem, though, is that land isn’t always listed in these places. In fact, many plots of for-sale land aren’t listed at all, which means you’ll have a hard time finding them on your own.
But this is where your New Jersey agent can prove her worth. Agents typically have access to listings that aren’t yet open to the general public, and through their network, they’ll know about for-sale land that isn’t listed at all. To discover even more about how an agent can help you in this area, just call 855-966-DEALS.
2. Serving as Your Eyes and Ears
In addition, land buyers, especially investors, often live quite a distance from the land they’re interested in buying. And this, of course, makes it difficult to inspect the land in person (which is essential to ensure it’s the right land for your needs). Your agent, though, can do that for you.
Your agent can be your eyes and ears – your boots on the ground, if you will. Your agent can walk the property and detect any issues that only such an in-person inspection can discover. Really, this is one of the most important reasons you need an agent when buying land in New Jersey.
3. Getting the Comps Right
One of the major challenges involved in buying land in New Jersey lies in determining its true market value. You absolutely must perform a comparative market analysis and get the comps right. But, again, this is far more difficult with land than with homes.
When running the comps for houses, you just look up the stats and make the appropriate comparisons. You look at the recent sale prices of comparable/very similar homes in the same neighborhood or immediate area to arrive at a fairly accurate idea of what the property under consideration is worth on the market. But with land, there are more variables to consider, and “comparable” or “similar” is much harder to pin down.
Your agent, however, has experience in making these more difficult comparisons to arrive at fair market value. The upshot, then, is that your New Jersey agent has the experience and expertise to ensure you don’t overpay when buying land.
4. Discovering Zoning Issues
Another reason you need an agent when buying land in New Jersey is to help you avoid any unpleasant surprises regarding zoning laws and regulations.
Before you sign the dotted line on a lot or a parcel of land, you need to make sure to check local zoning ordinances and possible building and use restrictions. Buying land, especially for investment purposes, without doing your due diligence here can leave you holding a mortgage on land that you can’t use the way you intended and that may also be difficult to sell.
Sure, you can do this research yourself since regulations and restrictions can be accessed through public records. But do you have the necessary time and research skills to do a thorough job? Your agent has both and so can help you avoid making a worthless land purchase.
5. Choosing the Right Land
A related reason you need an agent when buying land in New Jersey is that your agent can help you choose the right land.
Several of the things to consider in making sure the land you intend to purchase is right for you and your needs/purposes are:
- Zoning laws/regulations/restrictions (as we mentioned)
- Suitability for your intended use
- Soil suitability for, say, building, septic systems, and so on
- Access to utilities
- Susceptibility to flooding
- Survey problems
An agent can assist you with this and help you navigate the whole process to make sure you’re buying the right land.
Buying Land in New Jersey
It should be fairly apparent by now that not only can an agent provide valuable assistance in the purchase of land, but that you need an agent to avoid any costly mistakes. Don’t take a chance. If buying land in New Jersey is your goal, contact us today at 855-966-DEALS.