BUYERS BEWARE WHEN PURCHASING PROPERTY NEXT TO VACANT LAND!

When considering the purchase of a home, most home buyers think about such issues as the location of the home, the condition of the home, and whether the home is priced correctly.  One factor that is probably overlooked frequently by new buyers, but which is extremely important, is whether the home is situated next to, or close to, vacant land. 

One home buyer bought a home which backed up to a field with a herd of horses.  The horses would come to the fence, where he would pat their velvety noses and feed them carrots.  The "horse factor" was the deciding reason he ultimately chose to buy that house rather than any other.  You guessed it!  Within a year, the property had been sold, the horses were gone, and the formerly vacant land was to be the site of about 300 new homes.  But, of course, this could have been much worse.  The once-vacant land could have become the site of a commercial development, a power station, an apartment complex, or a myriad other unwanted projects.  In addition to being undesirable as next-door neighbors, these projects will also result in lowering your property value.

If considering a property lying next to vacant land, be sure to ask your real estate agent if the plans for its development are known.  It is wise to go even further and call the city planning commission or other responsible body and inquire about the future plans for the vacant land.  A little investigation now could prevent significant problems later.