Buying land is not as complicated as you think. It's much cheaper than buying a house (and has fewer problems), and probably the biggest step towards an independent future you can take. Good land can still be found in Italy, especially in rural areas, and often at reasonable prices too. In any case, one cannot live on the bare earth, many improvements will have to be made. Given how much it costs to build today and since the prices of prefabricated houses are getting lower, you might be better off looking for a house or a place to renovate, or a foreclosed house. Get help from a real estate agent so you can go through all the offers - land and houses.
Steps
Step 1. Start by thinking about the final result
To make the right choice, you need to know what you will be using the soil for, and how quickly you want to do it. This is especially important if you buy the land with a loan.
- Cultivation / breeding.
- Build a house.
- Investment based on the development of the area in the future.
- To diversify your portfolio.
Step 2. Save in order to make a deposit
If you ask for a loan, lenders may ask you for up to 50 percent down payment, even if 20 is the ideal amount. An alternative is to apply for a home mortgage loan or a housing loan.
Step 3. Decide where you want to buy
This is the hardest step of all. Buying land is a big commitment, especially if you plan to build it. If you still don't know where you want to buy, and mind the costs, search online.
There are many land databases available. A tour of these sites will give you an idea of the types of properties available and their costs
Step 4. Choose properties to follow closely
Signal on the map. It is a good idea to mark them in batches, so that you can then go and see one area and then, during a subsequent exit, another; so you will avoid long car rides in a single day or a weekend.
Step 5. Call the seller
Make a list of questions to ask over the phone. You can also email them, but it's best to talk to them directly.
- Some basic questions: is there a water source, are services arriving, or are there restrictions? Has it been paid for in full? Why do they sell? Is there any owner who is financing? Are there any facilities already and, if any, do they have all the necessary building permits?
- One of the most important things to ask right away is whether there is a proven water source on the ground. You will also be interested in knowing if a sewer system can be installed in the ground, and if it can be placed far enough away from the structures that you want to build, in order to prevent it from contaminating the water.
- The cost of drilling a well and installing a septic system depends a lot on the type of soil, and the final price can change dramatically.
Step 6. Look at the terrain
Nothing will clarify your ideas about what kind of land you want like looking at some properties. You will quickly understand what attracts you, and what you don't want. Walk the grounds, take photographs, find the boundaries of the property, and go see things like structures, or waterways and wells.
- Check all the facilities on the property or neighbor's property to see if they cross the boundary lines.
- Check if there are any roads or rights of way that neighbors use to get to their property or that you will use to do so.
Step 7. Camp for the night on the property
This will give you a good idea of the daily pace of the place, the neighbors and the traffic: if after 24 hours the enthusiasm for the place has already faded, think about staying there for 24 years! You must be absolutely in love with it, and even more, before you are ready to buy.
Step 8. Get to know the neighbors
Knock on their doors and ask questions, about the area, the property you are interested in, its history etc. Neighbors are a great source of information. Remember that you will live next to them if you buy, so make sure you can put up with them for an afternoon chat.
Step 9. Research the property online and over the phone
Get the land tax information and check the last time it was valued, and how much it was sold for. If it has a well, check when it was dug and how deep it is - this information is always recorded by a state office. Look at the cadastral map of the area: will the large land near you be built or will it remain mostly low-rise? Call the appropriate offices and ask what permits are needed to build, and if there is any approved project for that area. Try to find out everything you can about the climate, the economy, the history of the area - there is a huge amount of this information online. Also do research on natural disasters, such as floods and fires that occurred in the past.
- If the land was used for agriculture, there may be pesticides or fuel tanks leaking into the soil.
- Properties facing the water often need additional permits and have additional prohibitions. They are also at greater risk of flooding.
- Find out how much it will cost to bring essential services. If the power line goes near the entrance gate, it will cost less than if it goes far away, but the rules change depending on where you are.
- Alternatively, if you prefer to be more self-sufficient or if the line runs incredibly far and / or costs too much to connect, in the short term (and definitely in the long term) it would be worth investing in solar panels and wind turbines.
Step 10. Check the property area
Usually you pay per acre, so if the area is estimated in excess of 20%, you will pay 20% more than it owes. Many people from the city think that the property borders are perpendicular to the road and follow the stone walls, but this is generally not the case. In fact, dog paw splits or in other odd ways are common. Ask the builder for a floor plan or hire a surveyor to take the measurements.
Step 11. Make an offer
If possible, write the contract yourself, or copy and use one from a book on how to buy a property.
- Offer as little as possible for the land, but don't seem like an insult. The lower you stay, the more you will be able to bargain if the seller makes a counter offer.
- Properties usually sell for 85% of the initial asking value. That doesn't mean you can't get it for less - but you certainly don't pay more.
- You don't have to feel attached to the ground and become desperate. You must know how to leave the ground. Remember that there are thousands of them out there. The value of the land is arbitrary - your aim is to pay as little as possible, to have the cash to build later!
Step 12. Continue trading
If the salesperson makes an offer, make another one, and wait until you meet halfway through.
Step 13. Have a third person check the contract and make sure everything is in order
This is very important if you are buying in installments.
A financial insurer will cost a lot less than hiring a lawyer. Since you wrote the contract, ask the seller to split the costs of the third person
Step 14. Follow up on any eventualities, such as checking the shingles, the pit, etc
If everything is in order and you are ready to finish, the property is yours. Use it to the fullest.
