Buying property is an investment that requires planning and an understanding of how to get the best possible value. You need to know exactly what you want to get out of your property before you make your purchase to be sure you are getting what you need. One of the aspects of a property that is important to understand and investigate is the zoning laws and how they could pertain to future community planning. The zoning laws could be the deciding factor between a property being a good or bad investment.
When you are hunting for residential property that you want to keep residential, the zoning classification you want for the neighborhood where your property is located is single-family residential. If you don’t mind an apartment complex for a neighbor, then a multi-family residential designation is not bad.
You should also check the surrounding neighborhoods to see how they are zoned as well. If an adjoining neighborhood was recently changed to commercial zoning, then you might be buying a residential property next to a commercial building complex. Not only could that negatively effect your property value, but it will make living in the area difficult as well.
Proper Commercial Classification
Buying commercial property requires an understanding of the various zoning laws in your area. If you intend to build a business in your home, then you will need to make sure that the neighborhood you are buying into is zoned properly. Not all commercial zoning designations are created equal, and you need to make sure that your future neighborhood is zoned for your type of commercial activity before you move in.
It is also important to think about the future of your commercial property needs when buying property. If you own a manufacturing business that fits the zoning laws of a property you are looking to buy but you also know you will be expanding operations, then you need to make sure that the area is zoned for your new business activity as well.
Did you know that zoning laws in your area might prevent you from parking your RV or boat in your own driveway? Before you buy a property, be sure that all of your activities and possessions will be welcomed according to the zoning laws. Some areas do not allow large recreational vehicles to be parked in residential driveways, and some neighborhoods do not allow big rig trucks to be parked in residential driveways either. If you are a trucker or outdoor enthusiast looking to buy property, then you will want to make sure that the neighborhood you are moving to supports your lifestyle.
When you buy property, you look at important aspects such as location and future property value. One of the elements that affects your future value is the manner in which your property is zoned. Before you sign the purchase agreement for your property, you need to make sure that the zoning laws allow you to use your property in the way in which you want to use it.