Calgary land is becoming more and more popular as house prices continue to rise and the dream of owning a home becomes more and more difficult for young people. One of the alternatives to buying a home is to purchase a piece of land as an investment opportunity.
Just like a home, Calgary land will rise in price over the years. It is at the bottom of the chain in real estate, but it is still an excellent option if you just need to get started.
Building On The Land
Some people just don't have enough disposable income coming in to set aside enough savings to make a big purchase all at once. If you decide to build a home on the land, you can do it in stages per your budget. You can do a lot of the work yourself if you're handy to keep the costs low and then call in the experts as you need them.
Building a home can be quite an adventure. You can design it yourself to make it your own. You'll have the flexibility to make changes as needed and can definitely learn a lot in the process.
How to Buy a Piece of Land
Getting started by purchasing a piece of land is very easy. You can contact a real estate agent to find out what kind of land is available both inside the city and on the outskirts. The agent will also be able to tell you whether the market value of the land has good potential to rise in the foreseeable future. You can schedule an appointment to sit down and discuss your options for a land purchase.
Keep Land Zoning in Mind
When shopping for land in Calgary, you should check the zoning information on each individual property before falling in love with it or making an offer. It is possible to request that the city relax or change a property's zone designation, but it is a complex process that doesn't always work. Zoning restrictions specify exactly what can and can't be done on the property in question. There are 15 different types of residential zoning categories alone ranging from R-1 to R-MH, and land could be zoned for commercial, agricultural, or special purposes instead. If you purchase a lot that is currently zoned for commercial, you can't simply build a house on it and start living there. Understanding the current zoning of a property will help you decide if it's right for your purposes or if you love it so much you're willing to file for an exemption.
When it comes to Calgary real estate, the most important thing that you can really do is just get started. Too many people end up putting it off for many years and never really get to enjoy the proud ownership of a new piece of property. Don't let yourself fall into this group. If you don't think that you'll be able to scrape together what you need for a down payment for a home, buy some Calgary land and just get started.