Why Plan for a Site Analysis Before Purchasing Land for Development
If you're a property developer looking to purchase land for development you want to ensure you know everything about the parcel before even making an offer. This includes its physical characteristics, so you know if it's the right choice for building any type of structure.
However, you also need to know more about the land when considering property development, and this is where a comprehensive site analysis can assist. Note a few aspects of this process and why you want to plan for site analysis before purchasing any land for development.
1. Neighborhood Context
An inspection of land for purchase can't tell you about the neighborhood context, meaning zoning, landmarks, existing paths such as sidewalks and back roads, and other characteristics of the neighborhood. When developing property, the reaction of the neighbors and how that development will fit into the existing neighborhood will be important factors to consider. A site analysis will include this neighborhood context so you can determine if the property is the right location for you.
2. Legal Information
Researching the deed to the property will also be important before you decide to purchase a parcel of land. This may include government jurisdiction, partner ownership, liens on the property, and so forth. This too may be included in a site analysis.
3. Man Made Features
Man made features on the property and surrounding the property are important factors to consider when choosing property for development. Fences, walls, bus stops, and plazas should all be part of your considerations for that property as they may affect the value of your development, for good or for bad. For instance, a nearby bus stop can man more foot traffic for a convenience store. However, it may signal that there is less vehicle traffic, so it may not be the right choice for a gas station.
4. Circulation Information
Circulation refers to roads, alleys, sidewalks, and any other feature that will include foot or vehicle traffic around your property. These are important to note for any property that you may consider for development, as customers cannot reach a shopping plaza without a sidewalk and small roads may mean less vehicle traffic for the same. You may need to install a sidewalk or may want to rethink the development if you're relying on heavy vehicle traffic in the area.
These are just a few parts of the process of site analysis when it comes to property development, and how it can help you to determine if a parcel of land is the right choice for you. For more information, contact Steve Palmer Surveys.