From the video:
Looking to invest in undeveloped land? Read this blog post to learn how to weigh these 5 site characteristics before buying raw land for development in Cape Coral (including the 33909).
Want to buy land within the Cape Coral area? A lot of investors love vacant land as an investment! If you’re thinking about doing a land deal, make sure you weigh these 5 site characteristics before buying raw Cape Coral land for sale.
Weigh These 5 Site Characteristics Before Buying Raw Land For Development In Cape Coral
Site Characteristic #1. Legal Area
In many residential areas, boundary markers like fences, sidewalks, and roads mark the legal boundaries of a home. But with vacant land it’s not always as clear.
Depending on where the land is, it can be difficult to tell where your property ends and another one begins. In areas like Cape Coral, because it’s built up already, it’s normally pretty easy to tell where one property starts and another begins. Especially if you’re looking at land to develop inside an existing subdivision.
Before you even invest, make sure you know exactly where the legal boundaries of your property are so you don’t develop beyond those boundaries. If you’re not sure where those boundaries are, you can always bring in a surveyor.
Site Characteristic #2. Zoning
Municipalities will zone different areas in order to control growth. After all, no homeowner wants a garbage dump or noisy factory beside them! Zoning will restrict what you can build.
So, if you’re investing to develop the land, or if you’re planning to sell to a developer, make sure you know what can be built on the property.
This is important in an area like Cape Coral, where there’s a good blend of both residential and commercial investing going on.
In fact, despite the new working from home trend caused by the coronavirus pandemic, Cape Coral is slated to be one of the top 10 commercial real estate markets for 2021.
The zoning of the property will impact what you can do with it, for both residential and commercial categories. If you’re not sure how to check the zoning of a property, you can learn how to do that here.
Site Characteristic #3. Drainage
When it rains, a lot of the water soaks into the ground. But in heavy rainfall, not all of it will immediately soak in! When it rains, or when the snow melts, where does the water go?
Knowing the drainage lines of your property will help you know where to develop (so you don’t build a house whose basement always floods!). This is super important in Florida!
The state elevation is so low, that investors here need to be aware of water mitigation and management. You can learn more about water and how it affects your Florida property here.
Note: even if you don’t like the drainage line, you can often change it (within reason – you will have to contact the County for the next steps and the process); however, it’s good to know where the water drains before you start building any structures!
Site Characteristic #4. Stability for structures
Vacant land has so many promising possibilities – but not all land is appropriate for every use. The make-up of the soil will determine if and where a structure should be built on the property, and even how deep you need to dig for a sturdy, dry structure.
In Cape Coral (like the rest of Florida), the soil is mostly wet and sandy. Reputable builders and developers local to the area will have the expertise and experience required to make sure that your structure is built properly, with a solid foundation.
If you’re from out of state and you’re looking to move or retire to Florida and are searching for Cape Coral land for sale, you may want to chat with the builder or developer about this, just so you have a better understanding of how it works.
Site Characteristic #5. Path of growth
Want to know the best place to buy vacant land? It’s easy: in the area that’s going to be developed in the future!
The value of your investment will rise as demand increases for the land around it. Determine the path of growth so you can know where your next land investment should be.
Cape Coral is in a great position in this regard.
The city has lots of appeals (including over 400 miles of waterways – more than Venice!) and has close proximity to other cities like Naples and Fort Myers.
Plus it’s on the Gulf Coast, which has long been a desirable retirement and vacation location.
You may think that this appeal would price you out of the market, but with a median household income of $57,000 and a median property value of $214,000, it might be more affordable than you think!
Summary
Vacant has historically been a compelling investment. (After all, ALL land was vacant at some point!) If you want to buy land within the Cape Coral area, make sure you weigh these 5 site characteristics before buying raw land for development in Cape Coral.
Want to see what vacant land investment opportunities are available in Cape Coral? Click here or call our team at (313) 349-0434
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