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Many people dream about buying a parcel of land and building their dream home there, but there are certain things you should know about buying land. The first thing to know is that it is usually cheaper to buy land out in the country than close to the city.

In the country, you get the benefits of cleaner air, more open spaces, and other areas with plenty of trees. However, although modern conveniences are available in the country, they are sometimes less reliable, so you will need a generator in case the utilities fail.

Also, going to the grocery store, out to eat or to the supermarket sometimes requires lots of driving, so it also requires lots of planning. If you live close to the city, all of the amenities that you will need are sometimes only a few blocks away.

One factor that you should definitely consider before you buy land is zoning requirements. You need to check with the local authorities (state, county and city), and you need to determine what the zoning ordinances are, and if you will be able to build the type of home that you want.

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Smells and sounds are another thing to consider before you decide to buy a parcel of land. In the city, you will have to deal with exhaust fumes, among other smells. In the country, you may be trading the smell of exhaust fumes for the smell of the pig farm that sits upwind from the parcel you purchased.

If you want to buy a parcel of land on a hill, then you need to know how likely it is that the hill might shift. Find out if your parcel of land is in a likely area for landslides.

If you are planning to buy near a body of water, you also need to know how the probability of flooding. If you are in an area likely to flood, do not buy the land, or think about a raised construction and plenty of flood insurance.

When you are buying land out in the country, you need to find out about easements, especially if you need to access your parcel by driving across an adjoining parcel of land. You are going to need to obtain an easement in this instance, and you need to make sure that it is recorded. In addition, you need to find out what right your neighbors have to cross your parcel of land.

Water is really important and not all water is potable, and water rights sometimes to do not run with the land. This means that you would have to dig your own well, which also means that you need to determine the depth of your table and how difficult it is to dig in the area. You also need to consider utilities, and how costly it might be to bring electricity to your land, as well as telephone lines, cable services, etc., if they are not already established there.

It is quite common to pay cash for land, so make sure you obtain an appraisal to determine an appropriate price before you decide to make an offer. Those are just some of the things that you consider and they are meant as a starting point, so make sure you do thorough research before you make the purchase.

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Like a house, buying land can be a very stressful business, unless you follow certain guidelines. I aim, in this short article, to give you some tips to make the whole experience of buying land as smooth as possible.

First of all, know your budget and stick to it. Many people get themselves into serious financial problems when they buy land that is overpriced, or simply more than they can afford. You should also consider the reason for buying the land, for you may be able to pay more for land that is for investment purposes than for say, your retirement. Longer term investment in land can also affect your budget, especially if you are buying the land under a finance deal.

Another factor to consider is what is the potential future value of the land you are considering purchasing? If you are buying for retirement purposes or to build a house to live in then you probably want to buy land that is already zoned and has suitable infrastructure already in place. If you are a speculator then it may be worth checking what the future land use proposals are for you could be picking up a bargain. Always check with your local Zoning office before buying land, this can prevent nasty shocks in the future. You don't want to end up living next to a slaughterhouse or freeway!

Its a little different when it comes to land investment. If you are speculating then it may well be worth taking extra risks and buying discounted land to sell when people decide to come and settle there. Always consider local amenities and natural features such as a Lake Front, Lake View, or nearby gold course as these always attract a premium price when developed.

Finally, ensure that the deal is legitimate. Perform due diligence, get a lawyer involved if the deal warrants it and ensure that you get, for example a Warranty Deed, or a similar document to prove that you actually own the land, and of course you should ensure that the person selling you the land actually owns it in the first place!

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For your development project to be successful every element must be planned carefully.

Buying land for development is just one integral part of that planning process; however it tends to be the focus of most start-up developers.

Before starting the process of selecting and buying land for development, you need to decide who or what legal entity is going to buy the land. For instance is it going to be in your personal name, in you and your partner's name or a company name.

Answering that question is important because you need to decide who or what entity is going to borrow the money to purchase of the land,

but also borrow the money for the total development.

Each individual's personal circumstances are different. Add to that the different States or Countries in which we live, and you can see that they are many permutations to be determined before you can answer that question.

These decisions are fundamental to your work as a developer. After all we are developing to make money and setting up your structure correctly ensures that the money you

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My best advice is to investigate and engage a good property accountant, a good property lawyer and a good property finance broker.

Notice I have bolded the word property against these three

professionals. Please understand that in any profession, there is a need to specialize.

I mean you would not get the best advice from a lawyer who mainly did family law, now would you. What's the answer? Before appointing anybody ... interview them ... after all you are about to base your future on their advice.

Have your personal and or company financial details clearly set out and in particular have your 'wealth plan' defined so you can brief each of these professionals.

Don't do you thinking in front of them. It wastes time; is unprofessional and costs you money. The better the quality of your preparation ... the better the brief you will leave with them.

Except for the Finance Broker, they all charge by the hour.

Please - please - please; if your best friend or Aunt Mary's next door neighbour is a lawyer, accountant, broker - don't engage them! Or if you want to go in that direction, interview them and ensure they have the correct property background.

Residential Development Made Easy goes into more detail as to how you proceed with these professionals and determine which entity actually buys the land; borrows the money; develops it from the greatest tax advantage to you and protects you legally

Let's Get Control of That Development Land

So your plan is progressing. We know who or what entity is going to buy the land. The next point to consider is what 'tool' are we going use to gain control of the land.

You'll see as you progress through the development process, you need to build in as much flexibility 'for you' as you can.

We haven't got there yet, but eventually you'll need to make an application to the local authority in order that you can build what you want i.e. 4/6 townhouses, apartments etc. What happens if the

authority says 'no.'

Do you still want to buy the land? I don't think so!

So in this part of Residential Development Made Easy I talk about the various strategies you can adopt to gain control of the land the correct way.