With today's boom in the UK land prices, one could think it's a sure-fire way to make a lot of money. Think again! You need to use care and beware when buying land in the UK.
If you are astute in your research, and find the correct situation, you can make a great profit.
Many people have found the opposite to be true and have been stuck with massive losses.
The reasons for the losses are classic of any scam, so use care and beware.
What the land promotion companies will tell you is that you buy land that is scheduled for planning permission (but not yet granted), and you can buy before the great price appreciation happens. Sounds logical, but'
Is the word of a land sales company enough for you to make an investment? Certainly not!
A salesman will obviously say anything to make his sale, and that includes misleading the customer as to the real state of affairs. In land planning and permission, nothing any salesman says should be taken for face value.
Think about it.
If a land sales company knew some property was about to be granted, they would be buyers themselves, and not promoting it to you.
The land sales company will sell you unplanned and non-granted land at prices above the market for such property.
If the permission and granting does come, you have done well, but if not, you are stuck with an expensive asset that will never realize even its own value.
Regardless of the fact that land sales companies are reputable or not, you must take care and beware when buying land in Britain.
Here are some reminders and tips to follow:
? Planning permission can be discovered on your own. Make an investigation aside from the information you are given by the land sales agents.
? Do your own survey on prices for similar tracts of land in the area.
? Demand from the land sales agent to see records of their previous success stories. If there are none, go elsewhere.
There are reputable land sales companies in the UK, and they will be very glad to prove to you their good intentions and previous track records.
Alternative Investments?
If you have in mind to invest in land, there are other locations offering similar advantages to the UK market.
These are all within the UK, but if you are cautious in the UK, you must be more than careful in the new EU states. These are the areas of Bulgaria, Romania and the Baltic States.
For pure investment prposes the countries of central america such as Costa Rica and Panama are excellent and offer many investors triple digit gains
One could envision large annual gains in areas where planning permission is easier to obtain and where the markets are still in their growth period (easy sell and buy scenarios) and big profits can be made by selecting the right location.
Wherever you plan to buy, use care and beware, do your own research, and as the old saying advises, 'measure the cloth many times before you cut' and always visit the area before you buy and make your own mind up. |
