The Town of The Blue Mountains is a rapidly growing community, experiencing a boom in both the residential and commercial sectors. With new properties being developed regularly and businesses expanding, it's no wonder more and more eyes are focusing on the area. Not all properties available are Blue Mountains homes for sale, some are commercial properties or vacant land. For those who are interested in purchasing Vacant Land in Blue Mountain, it is seen as an open opportunity investment. Many purchase with the intent to build their dream home or as an extension to their current property, others purchase as a Real Estate investment with the intention to simply hold onto it. Vacant land can be a tricky investment, you need to be fully aware of the property you are purchasing and everything involved. Here are a few helpful tips to help you navigate the Vacant Land market.
- — There are many by-laws that govern vacant land that your REALTOR® can help you understand. This also includes the zoning of the property as not all Vacant Land is zoned for residential use. Your trusted Blue Mountains REALTOR® can help you wade through the endless legal terms and available properties.
- — When purchasing Vacant Land it is slightly more difficult to obtain financing. Most banks or lending institutions do not view vacant land favourably as they typically provide a greater risk to the lender. However it is not impossible, especially if you intend to build on the land quickly.
- — Are you planning to build a home? Start a small farm? Open a business? The future use of the property will help you narrow down where to look and what to look for. Speak with your REALTOR® to help determine the best fit for you.
Investing in Vacant Land for sale in Blue Mountain
Whether you are intending to hold the property as an investment or to develop down the road, Vacant Land holds many opportunities. Contact an agent for more information on buying Vacant Land in Blue Mountains.
