Agriculture Reference
In-Depth Information
plans and variances that have been issued that may affect your decision. Find out what the
laws are regarding subdividing property or adding rental structures such as mobile homes.
While you are thinking ahead, consider the resale history of the property. A parcel that
has been on the market for quite some time before you buy it will likely take a similar
amount of time if you need to sell it. It may be a good value but suitable for few potential
buyers.
Price
When shopping for property, price is often the first priority, out of necessity, but don't for-
get to consider the factors that affect the price so that you're evaluating it in a proper per-
spective. Compare the price of similar land that has recently sold. This is public inform-
ation and can be found in the county recorder's office. When comparing two parcels, one
may seem like a better deal when in fact its final cost will be much higher once equival-
ent improvements have been made. Calculate the cost of financing, utilities, and essential
improvements. Find out the yearly taxes and whether the property is located in any special
taxing/service districts. If you are planning to pursue your horse involvement as a profit-
making business, find out if the land is eligible for agricultural status and what you must
do to qualify. And be sure to have enough cash remaining after the purchase for the horse
facilities!
