“To purchase land near the beach, you will need to find an area that has not already been caught with a house on it. Beachfront property that borders the ocean or waterway is costly and is hard to find. Land that is just off the beachfront is typically easier to find, less expensive, and a better choice for investment.
Regardless of which you choose to search for, the land must have value. Consider the three points below.
1. Figure out why the land is for sale.
2. Research the area to see if utilities are available for a house.
3. Evaluate potential development projects that might take place.
First, you need to figure out why the land is for sale. There are many reasons why estate goes up for sale, from honest to dishonest aims. Zoning restrictions can cause issues with building a house, and you will need to be aware of these restrictions when evaluating a property for purchase.
Land might also go on sale because of hidden problems with the area itself, such as ground too soft to lay the foundation in. Make sure you know the land and about the property before you buy.
Second, research the area to see if it has all the necessary utilities to support a house. If there are electrical lines, but no sewer access and rules against a septic tank, then the land won’t be worth as much. Keep in mind that if the area doesn’t have all the utilities it needs available, it might have them available in the future.
Land development close by might mean that a sewer line is put in. Purchasing the land before those events happen would allow you to get it for less money, and ultimately have a more substantial profit.
Lastly, make an evaluation of the area and what potential residential development and commercial development project might take place. Development projects can both benefit and detract from the value of a house.
If you happen to find a perfect piece of land, for instance with a clear view of the ocean, an open area capable of putting a house on, and forest surrounding the house on all other sides, then development projects are not as harmful.
If you don’t have those, and the development would make your land feel crowded, then it would be a detraction. The main idea is to think long term about your investment.”