Arizona land offers investors a lucrative financial opportunity in one of the fastest growing states. With beautiful natural landscapes, attractive economic opportunities and diverse wildlife, the state is an attractive investment choice. However, buying and selling land requires careful evaluation of investment objectives and priorities. The best route to take depends on each investor’s unique circumstances, including the amount of time and resources they have available. Those who need to sell quickly or need a cash infusion may benefit from working with AZ land buyer companies, while those with more flexibility can maximize sale price through traditional open market listings.
One of the most popular reasons to buy land is to invest in raw land, also known as vacant or undeveloped land. Raw land typically requires no maintenance or upkeep, and is a safe investment option. Those who want to build their dream home or use the property for agricultural purposes can reap substantial benefits from this type of land purchase. Raw land is also a smart investment for people who prefer to “buy and hold” rather than flip properties.
To find the right type of land to purchase, consider a variety of factors, including current market prices and future potential for appreciation. It’s also important to assess the area for amenities, such as public schools and services, and zoning ordinances. For example, many subdivisions have CC&Rs (covenants, conditions and restrictions) that prohibit RV parking, satellite antennas and other items.
Once you’ve determined what type of land you want to purchase, contact the local county authority to learn more about zoning ordinances and requirements. It’s essential to have this information before you finalize your land deal. Be sure to check the zoning ordinances against your planned usage of the land so you don’t end up with any surprises.
If you’re planning to use your land for agriculture, livestock or other purposes, make sure that the zoning ordinances allow these types of activities. In addition, check for a recorded survey and walk the entire perimeter to ensure that all corners have been clearly monumented and mapped. Also, look for any fence or building encroachments on neighboring land and physical defects like uncrossable ravines.
A specialized land buyer can help you sell your property quickly for a fair price, and often pays back any third-party closing costs associated with the transaction. Selling to a “we buy land” company can also save you thousands of dollars in commissions and closing fees when compared with agent-assisted sales. These companies often work with affiliated title and attorney companies to minimize overall closing costs, which can be a big savings for sellers. However, these options are not suitable for everyone, so do your research to determine which route is best for you.