You might question whether purchasing a home is really such a good idea in light of the housing bubble burst, the financial crisis, and the millions of foreclosures that have occurred nationwide. But it’s crucial to take into account all available information. The key lesson to learn from these occurrences is not that home ownership is a bad thing, but rather that you must take precautions while buying land in NC.
Like all markets, the housing market always experiences ups and downs. Despite this, purchasing a home is still a good investment. For individual households, homeownership remains one of the finest long-term investments. Historically, despite shorter periods of depreciation brought on by regional markets and/or other factors, real estate has consistently improved in value
Purchasing undeveloped land for development or investment purpose in NC
Before making a land investment, there are a few things you should be aware of. There are actually more than simply “a few things.” Purchasing undeveloped land involves a difficult real estate deal with numerous moving elements.
Where to look is one of the most important concerns if you’re trying to purchase land in a state like North Carolina. The state’s many regions present various chances and difficulties for new land developers or investors. A search for commercial property in the Outer Banks will seem very different than one for a residential lot in the mountains close to Asheville.
It could be difficult to handle all of the options and information involved. But buying land may be profitable and satisfying provided you know the appropriate questions to ask and who can answer them.
Why do you want to buy land?
Before you even begin looking at properties, you should pose this question, even if it may seem simple. The rationale is simple: once you decide what you want to do with the land, your search will be naturally focused. You’ll save time, hassle, and perhaps even heartbreak by focusing your search if you don’t fall in love with a property that isn’t the appropriate fit for you. Additionally, it will make the task of any real estate agent you hire much simpler.
Are you planning to use the property to construct a house or houses? Are you thinking about building a business property? Do you intend to resell the land for a profit after investing in it? Or are you merely seeking for a piece of wilderness land where you may park a camper and isolate yourself from the outside world?
Set a realistic budget
Buying land can be challenging. It’s a lot more difficult than simply searching Google Maps, phoning your broker, and writing a cheque if you’ve never done it before.
Rarely are the final costs the same as the parcel’s final list price. Yes, we have all heard tales of wealthy land purchasers finding hidden treasure on their recently purchased parcel. The reality, however, is that unexpected costs and fees are more frequently than not the only surprises.
The scale and extent of post-deal development costs may surprise inexperienced land buyers. Surveys, fees, permits, legal expenses, and other costs may also be referred to as impact fees, mitigation fees, service availability fees, or facility fees, depending on your state and area.
The overall cost will ultimately depend on what you intend to do with the land, but all of those extras can add up.
Are you looking for land in North Carolina for sale?
North Carolina is divided into three primary geographical areas: the eastern Coastal Region, the Piedmont Region in the centre, and the Mountain Region in the west. There is a huge diversity of geographical types between the renowned beaches that line the Atlantic Ocean and the Appalachian Mountains that form the border with Tennessee.
A vast list of results from a search on the internet includes undeveloped business land, hunting land, farming land, forest land, and a variety of residential and leisure land. The finest online results will come from exploring a variety of the top real estate websites because the inventory of each site can differ.
- Lands of America
- Land and Farm
- Mossy Oak Properties
- Land Century
- Land Hub
- Carolina Forestry
Top 10 North Carolina Counties by Land Area
Here are the 10 North Carolina counties with the most land area.
- Robeson County – 949.22 square miles
- Sampson County – 944.74 square miles
- Columbus County – 937.29 square miles
- Bladen County – 874.33 square miles
- Pender County – 869.79 square miles
- Brunswick County – 846.97 square miles
- Wake County – 835.22 square miles
- Beaufort County – 827.19 square miles
- Duplin County – 816.22 square miles
- Johnston County – 791.30 square miles
There are various reasons why people buy mountain property. A family retreat, a hunting property, a safe long-term investment, or just the satisfaction of your family’s recreational interests are just a few examples of these reasons.
How many different types of land are there in North Carolina’s mountains?
- Raw undeveloped land
- Gently rolling open meadows
- Heavily wooded woods
- Historic family farms with outbuildings
- High elevation land between 3,000 and 4,000 feet
- Mountainous terrain with streams and springs, and even inexpensive useless land are all available.
Mountain Land – Features of North Carolina
- Protected valleys versus ridge tops with wide views
- Paved public highways versus gravel-surfaced private roads
- Open versus thickly forested land
- Convenient access to shopping as opposed to far-off and isolated
- Low-elevation versus high-elevation land lots
- Cold, snowy weather as opposed to moderate day-to-day weather
- Creeks and streams versus dry land
- A well-kept showplace as opposed to a less-expensive, underdeveloped, and untended option.
- Acreage: 50 or more acres against less than 50 acres
- Price: less than $500,000 vs. the sky’s the limit
North Carolina Mountain Land – Locations
- Wilkes County (Wilkesboro/North Wilkesboro)
- Ashe County (Jefferson & West Jefferson)
- Watauga County (Boone/Blowing Rock)
- Caldwell County (Lenoir)
- Alleghany County (Sparta)
- Avery County (Newland/Banner Elk/Sugar & Beech Mountains)
- Alexander County (Taylorsville)
- Burke County (Morganton)
- Cleveland County (Shelby)
- Rutherford County (Rutherfordton)