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Florida Land Buying Blunders: How to Dodge Common Pitfalls for a Successful Purchase

Florida has become a popular location for people to buy land for both their homes and businesses. With advantages like year-round warmth, a growing population, and tourism dollars, owning Florida land can be both financially and personally rewarding over the long term. However, buying land is not without its risks and costs. As a result, it is important for prospective buyers to be aware of the pitfalls and make sure they are doing their due diligence when buying land in Florida.

While it may seem obvious, mistakes to avoid when buying land in Florida in the wrong location is a common mistake that many people make. While a piece of vacant land can look perfect on paper, the location and surrounding amenities are crucial factors in determining both its value and suitability for your needs. Consider things such as distance to schools, crime rates, and transportation links when choosing a location. Also, take into account the likelihood of hurricanes and flooding based on the property’s proximity to water bodies.

Another mistake that is often made is not properly evaluating the feasibility of a development plan for the land. This mistake can cost you a great deal of money in terms of building expenses and delays. It is important to conduct a thorough feasibility study and a CAD or critical area designation study prior to purchasing land in Florida. This is one of the best ways to ensure that you will be able to get the most out of your land investment.

Lastly, it is essential to find the right realtor to help you with your land purchase. There are two main types of realtors: residential and commercial. Residential realtors typically help buyers purchase homes, while commercial real estate agents and brokers can help you buy business properties like office buildings or shopping centers. Having the right agent by your side can make all the difference when it comes to finding and purchasing the right land in Florida.

Other common mistakes include failing to adequately inspect the land, not paying attention to zoning laws and regulations, and not doing research on potential flood zones, wetlands, or other environmental concerns. This is why it is always a good idea to work with a highly seasoned professional investor who can help you run the numbers and perform your due diligence like the team at CORE Capital.

Purchasing land is not as easy as buying a home, but it can be equally as profitable over the long term. By avoiding the most common mistakes, you can ensure that you are getting the most out of your Florida land investment. So, do your homework and find the right place for your dream home or business, and don’t forget to follow these simple tips when buying land in Florida!

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