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Buying Land – Lots of Factors to Consider
For many years, the purchasing of undeveloped land has been a dream for many of us. Over the years in the Ottawa area, it has been a solid investment. Typically, you would plan to build on the land or hold onto it and sell it later for a profit. The unknown time frame of the COVID 19 situation puts the short-term future value of some types of commercial land in doubt. This uncertainty requires that meticulous research is more critical than ever before.
Doing this research and gathering all the necessary information has always been important. However, now, there are opportunities for long term profit, but having all the essential information is vital. There are several types of land: recreational, agricultural, residential, and commercial. Always start your research by contacting a Real Estate Agent REALTOR®.
The checklist can appear to be overwhelming; however, if you do your research carefully with the help of Real Estate Agent REALTOR®, you can prepare a reasonable plan. There is an excellent variety of land to purchase in our community. The timeframe for potential profit on resale will probably be longer, but there are still potential opportunities.
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