Buying Land: Look Before You Leap Have you found yourself dreaming of your own Walden Pond lately? Whether you're looking to build a luxury retreat or you just want a natural escape, the dream of scooping up an undervalued piece of land is an understandable one. But before you break out the flannel, it's important to remember that buying land is different from buying property with a structure already on it. Here are some things to keep in mind when buying land: If it's an investment, consider it a long-term investment Land is not a quick flip. You should only plan to buy land if you're going to hold on to it for at least 10 to 20 years. Landholding can protect you against inflation, but its value isn't going to rise quickly. Pay cash if possible If you aren't going to build a home on your land right away, lenders will see you as a risk, and you'll have to pay 30 to 50% upfront (if not full price). If you are going to build right away, you can get a constru...
Tiffany Morrisett is a Real Estate Broker with Coldwell Banker serving the Northwest Suburbs of Chicago. Owner of affordable, elegant home furnishings store, Tiffany-Interiors.com Real Estate: TiffanyMorrisett.cbintouch.com Affordable and elegant Home Furnishings: Tiffany-Interiors.com Direct Phone: (847) 857-8276 Email: tiffany.morrisett@cbexchange.com Social: facebook.com/AnAgentYouOughtaKnow twitter.com/MorrisettAt instagram.com/tiffanymorrisett_realtor/