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Buying Development Land in Waterloo

 

Waterloo is the 10th largest city in all of Canada and the 5th largest in the Ontario region. The city has both a young and diverse population of up to half a million. Half of the population of Waterloo is forms the active workforce making it the 3rd fastest growing economy in Canada after Oshawa. The Waterloo region is highly diversified and dynamic. It has a 3rd youngest median age in compared to all urban areas in Canada due to an annual input of fresh talent from numerous learning institutions. The best part about Waterloo is that all its economic sectors are embedded in technology making it the city of innovation and dynamism.

Buying development land in Waterloo (Canada) can be quite a hustle especially for new investors to development of land. There are a few things you should consider while buying development land in Waterloo. This information includes:

Local Zoning requirements

Before purchasing any development you should be aware of the requirements that the local authorities have imposed on such land. Knowing the kind of structures that can be built on prospective land, probable future uses of the adjoining land and future zoning requirement is important information may be very important before purchase. Changes in land use may cause the land to be unsuitable for the desired use.

Altitude

When purchasing commercial land it is important to know the elevation of your plot in relation to surrounding land. Land that may be located in areas susceptible to floods, path of landslides or has unstable foundation may not make good investments. Ask neighbors to get information about foundation and frequency of floods.

Natural hazards

While purchasing land it is essential that you know the frequency and gravity of any potential or recurring hazards. Some areas have soil structures and bedrocks that will not support tall buildings. You should have geological surveys done on such areas to ascertain if the structure you want to build there will have sufficient support from the soil structure.

Accessibility

While purchasing development land accessibility of your patch from the main road is important. When you purchase land that you intend to develop you will need frontage access to ensure construction goods and vehicles are able to reach your portion of land. You should inquire about who maintains access land at how much it will cost to maintain your portion.

Additional Utilities

Development land should be having water and other utilities that will make it easier to develop. Have prior information concerning water policies and how best to get water to you land. If there can be no pipes running across adjoining land knowing the depth of the water table and difficulty involved in digging a well is important.

After considering all these factors you will be in a very good position to buy physically viable land. Other than the physical aspects of development land, it is important to consider the financial feasibility of the location you are purchasing land. Development land is an investment choosing a location with fast growth capability and high return on investment.

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$2,300,000
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Nav Sidhu
Homelife Maple Leaf Reality Ltd. Brokerage
Phone (905) 456-9090
Website http://www.navsidhu.com
Address 263 Queen Street E
Brampton, Ontario
Canada L6W 4K6