If you're in the market to buy some land, there are some things that you should first consider. You’ll want to take a look at the pricing, the market trends and think about the maintenance involved.
Market trends for land
Right now, the real estate market in Calgary is red hot. If you've been thinking about getting some land to build a property, you should think about doing it soon. The interest rates are low and while most other people are busy looking at prebuilt homes, there is a lot of opportunity for purchasing land right now. Just make sure that you'll be in the position to construct your new home within the next few years or have the patience to let the land remain vacant for about 10 years to see a good return on your investment. You should also find out if the land has any building requirements on it. Sometimes you won't be able to let the land remain vacant for very long.
If you're thinking about purchasing pre-cleared to land for recreational, farming or construction use, it may require some general maintenance from time to time. Trees fall down, weeds grow and your beautifully cleared land can turn into an eyesore without at least a small amount of maintenance.
Investors purchase large plots of land and then section them up and sell the individual lots for a profit. A lot of investors have been looking at the Calgary region and have been putting their money into land recently. There's a lot of confidence in the Calgary economy, so now's the perfect time to purchase one at the lots. Just make sure that you find out how much the property tax will be before committing to your purchase.