If you have been in the market for a building site for a personal or business project, you probably know firsthand that choice properties are moving quickly. How can you get the inside track on available land, affordable land, and get your project moving forward?
1) Take sufficient time. Although there is a perception of urgency in the marketplace, spend the time needed for due diligence in terms of site evaluation. Have your contractor, design professional, or experienced real estate developer visit prospective sites with you to observe or discover any potential pitfalls that you may not foresee such as highway access, setbacks, wetlands, excavation issues, bedrock, local restrictions, zoning, or other instances that may negatively affect a parcel’s buildable acreage or overall project cost.
2) Connect with the right resources. Municipalities and economic development professionals are keenly aware of available properties and possible incentives within their respective jurisdiction. No matter what type of business you are looking to expand, they will be able to help you identify areas zoned for your type of operation, alert you to any special opportunities or development zones, and inform you about local incentives and loan programs that could apply to your project. Their services are no extra cost to you and inquiries are confidential. If you are working with a contractor, designer, or real estate professional you should involve that team in this process.
3) Start early. Those new to the development process might underestimate how much time it will take to find a site and acquire a site for an expansion project. Holding a site is often the least expensive part of a project, but rushing to make things fall into place can increase expense. Be aware of any development agreement deadlines on property, however, to assure you remain in compliance with those agreements.
The professionals at Derrick Building Solutions are ready and available to assist you in your site search. Contact us today.