Before you purchase a piece of property in Canada, you should review some of the essential things you need to know. Check if the land has any liens, access to utilities, and other issues that could hinder your plans for the property. Check whether the land has any natural resources, including water and electricity, or whether it is uphill or downhill. Check for environmental concerns, such as flood zones, wetlands, and erosion.
Home buying checklist:
When purchasing land, there are a few essential things you need to look at. For starters, check the soil. It can prevent you from building a house, digging a well, or getting natural gas and electricity. Also, check to see if there are any liens or environmental issues on the property. If you can’t see these things, don’t buy them. It’s better to get a professional opinion than deal with shady business practices.
There are several essential factors to review when buying land, such as property taxes. Unlike property taxes in the city, based on assessed values, property taxes in rural areas vary wildly. The assessment of tax rates depends on many factors, including the size of the property, the type of construction, and location. It is vital to read the local zoning laws before putting down any money when buying land.
Access to utilities:
When you buy land, it is vital to consider the availability of utilities. These include water, electricity, gas, telecommunications, waste collection, and sewage treatment. While you can choose to put these services where you want them, it will still be beneficial to consider the access to these services. Some land will come with a water meter, which is a plus for any property. You may even want to invest in a water meter for added value.
Before buying land, you should know its soil health, the water table status, and other soil indicators. If you’re in an area that often experiences flooding, you might consider securing flood insurance. You may also want to check the properties of past crop yields. In some cases, you may need to hire a professional to run a geotechnical investigation to find out the strength of the soil.