7 Qualities to Look for When Purchasing Land in Missouri

The real estate industry can be a great way to invest money when you are looking to build long-term wealth. When you are looking to invest in real estate, one option would be to purchase undeveloped land as it provides a unique amount of opportunities and potential. If you are looking to invest in land in the state of Missouri, there are seven tips that should be followed that could help you to make the best purchase decision possible. 

Location 

For any real estate investment or purchase, the most important thing that you need to focus on is the location of the asset. Nothing will increase demand for a land investment like having a piece of property that is well-located. You should look for land that is located near populated areas or has other commercial investment demands. This will help to retain the land value, even when things are down. 

Access to Resources 

While most people purchase land with the intent to develop it into permanent real estate, another option would be to use the land for its natural resources. You may want to consider buying land and then allowing miners or other extractors of natural resources to find value in the land. If this is your business plan in Missouri, it is important that you spend time having the land properly explored and analyzed to see whether these resources do exist on the property. The land could also be considered very fertile and be a good option for farming. 

Nearby Infrastructure 

Even if you are not located in a major market, you should still look for land that is near infrastructure. Throughout the state of Missouri there are interstates and other major highways that run through largely vacant land. While this land may not be used for any valuable purpose today, the access to the major highway provides a lot of potential. Because of this, you should look for parcels of land that are within a reasonable drive of this land. 

Expansion 

As you are looking for land to buy in Missouri, you should also consider potential expansion of metro areas. Several major cities in Missouri, including Springfield and Kansas City, are continuing to see growth and expansion. Because of this, you should identify land that is located near these growth centers. This land could still be available at a discount but could go up significantly in value as the nearby cities continue their development. 

Environmental Concerns 

If you are looking to invest in land in Missouri, you also need to think about whether or not there are any environmental concerns. Nothing can ruin an investment in real estate like environmental conditions. Land that has been impacted by fuel leaks or other hazards could be very expensive to fix. Because of this, you need to make sure that you know the full history of the land and that you have the property properly tested. 

Zoning 

When most people purchase land, they end up buying it with an intent to develop it into something different. However, one of the factors that can influence whether or not they are able to do this development is what the zoning is. Because of this, you need to make sure that you want a full report on the land to make sure that it complies with your intended use. If it does not, it could impact the value of the land considerably. 

Development Challenges 

Finally, you also need to make sure that the land you are buying is designed in a way that it could be developed. When you are buying land, you need to ensure that it is not too hilly, does not have any difficult terrain, or other risks and challenges that can make development challenging. If it does have these challenges, you may not be able to execute your business plan without spending a lot more.

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