Land investment is currently an attraction for a lot of people, and this is to be expected, considering the immense opportunities it presents. Many people consider land investment a veritable alternative to property investment. This is because land offers the same returns as property but at a smaller initial investment. For some people, investing in unique UK land is all about the returns, whilst for others it is about the challenge that it brings.
If you wish to invest in land, then it is recommended that you first do a thorough market research. The deeper the level of your research, the less likely for your investment to fail. Recommended areas you must research include locations, the market rates for land in your desired locations, the speed at which it sells etc.
For a profitable land investment opportunity, there are a couple of things that you must bear in mind before you proceed. You have to ask yourself; what do I want to do with the land? The answer to this question will help act as a guide as to what type of land to buy and in what location. Next, count the cost. One of the disadvantages of owning a unique UK property for investment is the high cost associated with it. It is therefore pertinent to have a good idea of these costs and be prepared for it. Some of the costs you may be confronted with include; planning permissions, architect plans, legal costs etc.
It is equally important to take a critical look at the land itself. Is it sufficient for the purpose for which you intend? Are there any flaws associated with the land? Does it have access to important services; drainage, power, sewers? And finally, for those who wish to develop their lands for onward disposal, there is a need to know the profitability of the property. Is it in a good location? Is there an available market?
There are basically two types of lands that can be used for development; Brownfield land and Greenfield land. Greenfield lands refer to undeveloped lands such as forests and parks. It is often difficult to get planning permission for them. Brownfield lands, on the other hand, are lands that have once been occupied by buildings. It is easier to obtain permission for Brownfield lands as it is known that something was once built there. Therefore, Brownfield lands are the safer investment and development option.
There is an acute shortage of housing, occasioned by a fall in supply but growth in demand. The UK government, being aware of this, made certain amendments in its housing bill making it easier for planning approval for residential units on Brownfield land site as well as encouraging greater density projects on inner city landscape. This is great news for Brownfield investment.
For more information on how to invest in Brownfield Land send us an email at email@example.com