10 Often Overlooked Potential Negatives to Consider When Selecting a Residential Development Site

10 Often Overlooked Potential Negatives to Consider When Selecting a Residential Development Site

Finding a property to develop can be difficult. To further complicate this, it is even more difficult to find a property large enough to become a full residential community. It’s easy to want to jump in and buy the property immediately when you finally find it, but there are some negatives to be aware of. These ten negatives can impact and impede and even destroy the development and eventual sale of your property.

#1) It is extremely important that you have your soil tested when you are considering the property. There are all sorts of things that one way or another have gotten into the ground that would kill your deal before you’ve done it. Land that has previously been used by industry could be land that has waste such as oil, lead, or toxic waste. These kinds of things make the land unable to develop. If you buy land that cannot be developed, you will keep the property. That means you will pay taxes on said property and you will not be able to do anything with it.

You may be able to clear the land, but that will require additional investment and additional time before the land can be developed. If you already own the property and find that you have these problems, you can hire someone to clean up the soil by bringing in fresh soil after removing the contaminated soil and taking it away. Again, this will likely be a long and arduous process, which means that the land will not be able to begin the long process of development before it is completely clean and free of all problems.

#2) If you are near an area that has bad odors in the surrounding air, you may have trouble selling your lots once the land is developed. For example, a community developed on the outskirts of a landfill and that community took a long time to emerge. Not many want to live in an area that smells bad with every warm day when they go outside. This will make the land more difficult to sell and develop, which can end up with the developer losing money in the long run.

#3) Another area you would like to stay away from as a developer would be one that is near a noisy location. An airport would be a good example. When the planes come and go they are quite noisy. If a residential neighborhood is developed too close to it, it will be difficult to sell the lots and get people to live so close to that noise.

#4) Sites that have health hazards too close to them can be difficult to determine, but they can also be sites that will lose money for the developer, since people will worry about living so close to these dangerous things. Some examples are areas that are near power lines, a car manufacturing plant, or other facilities that will emit toxic waste. Not many would want their children to be exposed to such dangers and therefore would not want to shop a lot in this area.

#5) If the land you are considering investing in is close to or would offer a view of something sinister like a graveyard or something unpleasant and noisy like a chain of bars, casinos or a prison, use this reason to decide against it. the investment. Not many would want to look at a graveyard from their kitchen window. Those who traditionally raise families might not like the noise and danger of things like bars, casinos, or a nearby prison.

#6) Land that can be considered unincorporated can be difficult to sell to consumers. This means properties will have well water instead of city water. Some will be willing to buy bottled water and still live in this area, but many will not. Another negative aspect of these types of areas is the fact that the people who buy the lots will have to use septic tanks instead of city utilities. Again, many people won’t want the added hassle of dealing with septic tanks that need to be maintained and often get clogged.

#7) When you take a look at the land you’re considering for development, be sure to see if there are any wetlands within its surface. Wetlands are extremely difficult to build, if they can be built at all. With wetlands, their only hope of development would be to fill those lands with land that can absorb water. In many cases, these wetlands are protected by the government and cannot be built on anyway.

#8) Certain soils are also difficult to develop. Rocky soils and soils that are not compatible with septic systems may not be developed. Again, this will result in additional money having to be spent so that the land can be developed or additional taxes.

#9) Be sure to pay attention to local politics. If there are political people who are not in favor of development, they could make it difficult to carry out your project. If you have those kinds of problems, you may never be able to develop the land.

#10) Be aware of any other local developments. Other local development may make your development a harder sell. People looking to buy property to build a home may not like other developments coming up and this will make their properties harder to sell. Make sure you know about all the other nearby developments and how the community feels about them.

Developing land in a residential community can be a very profitable venture, but you must be careful with your investment. As long as you are aware of the ten negatives above and are careful to avoid them, you will be well on your way to selecting a great development site.

Leave a Reply

Your email address will not be published. Required fields are marked *