Lots of reasons to buy a vacant lot or vacant land in the Florida Keys. Is it an excellent way to get into the Florida Keys area. This speaks loudly to location, location, location. Perhaps you are looking for an investment or that perfect place for a dream home in paradise. It can allow one the opportunity to get into a desired location, make an investment or build a dream home. There are many valuable real estate opportunities in commercial land for development in the Florida Keys.
Reasons for buying a vacant lot or land in the Florida Keys.
- The price of vacant land or an empty lot is less than that of a developed piece of property. A buyer with limited funds at the moment can claim a desired location with the plans of building in the future once funds become available.
- Building a home from scratch can allow for more customization than buying an existing home and then remodeling. Custom building gives you total control over every aspect of the house in its construction, placement on the land and the all important view from the home.
- Land can be considered a stable investment offering a physical asset. In the Florida Keys, land is finite and a limited asset.
Important things to consider when purchasing a vacant lot or land in the Florida Keys
- What is your desired end result.
- What is the property’s elevation and what flood zone is it in.
- What is the community that offers the best investment and/or desired lifestyle.
- What is the accessibility of key utilities: water, electric, gas, telephone, cable and sewer
- What existing development surrounds the property and what are the plans or rules for future development.
- What are the government zoning restrictions
- Does the property have a current building permit. Can the property get a building permit. What is necessary to obtain a building permit
- What are your expected construction costs should you decide to develop the property
- Do you need to finance and if so, can you qualify for a land loan.
Buying vacant land or lots in the Florida Keys is not for everyone. One must be prepared and understand the building and zoning requirements in the unique Florida Keys.