Ready to purchase some acreage? Forest land? Undeveloped stands? Consider these steps before making your purchase.

1. Decide exactly what you want before you start your search. Write everything down on paper, including what you want the property to be used for (residence, industry, recreational, investment), how far the property is from a municipality and the amount of development that the property will need, if any, to become what you ultimately intend for it to be.
    
2. Make a list of the available properties within your price range. Consider only properties that meet your criteria. Don’t spend time nor effort evaluating a property that you know in your heart that you will not buy.
    
3. Get the land appraised. This is the best way to find out the real value of the land that you’re looking at. A proper appraisal will include things such as delving into wells, sewers, and other underground properties.
    
4. Make an accurate estimate of the expenses for your entire project, the land purchase, and planned building, and any development or improvements to the land itself. As with any such estimate, allow a small percentage of your total estimated cost as a buffer for unplanned expenses.
    
5. Educate yourself about the land you want to purchase. Get a professional to survey the land. Through legal research, be sure to check to see if there any easements, restrictions, or permits needed. Find out what the current zoning laws are, check into any existing “future land use” plans that the city or county may have, and make sure that there are no liens against the property. Most, if not all, of this can be done by a qualified attorney.
    
6. Get pre-approved for your loan. Purchasing acreage is much different than purchasing a residential home. Land purchases require special financing as compared to purchasing a primary residence. Getting pre-approved will help prevent any waste of time that might be encountered otherwise and will let your real estate agent know up front what the expected financial situation is.
    
7. Be sure your purchase contract has built-in contingency clauses. These clauses will help protect you, the buyer, from unexpected costs. For example, if the purchase of the property is contingent on the buyer installing a paved driveway, then the buyer has to pay for repairing the fence that was inadvertently damaged during the process. Properly worded contingency clauses will help protect you from such unexpected happenings and their associated costs.
    
8. Make sure that before you sign your name to the purchase contract, that the cost and any monthly mortgage, insurance, etc., are all within your budget. The worst thing to happen is for you to get excited, make the purchase, and then realize that you can’t afford it a few months later. Calculate what your budget will allow before you start and stick to it as you go through the search and eventual purchase process.