Essentials of Developing a Rural Property

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Essentials of Developing a Rural Property

by ICC on January 2, 2021
January 2, 2021 / by / in

Owning a piece of land in a rural area is different from owning the same size as the piece of land in the city. In terms of value, land in the city is many times higher than in the rural area. You can raise the value of your rural property by developing it.

The process of getting authorization letters is different in rural areas. Government services are far away in the rural areas. Almost all contractors are based in the city and you will rarely get one on the rural side.

Have a good plan

The first step is to think about what you want to do with your parcel of land. Think about what type of development you want. You may plan to build your rural home, build a rural restaurant, an entertainment center, and so on. 

Planning will help you know who to involve in the development of your rural property. If your rural property is not far from Kansas City, you may want to contact a Kansas City foundation repair contractor who can help restore the foundation of your city house. Olson Foundation repair is experienced in offering solutions for all your home foundation-related challenges, cracks on walls, and waterproofing. 

Look into the challenges

Understand that rural property appreciates slowly and it might take longer to recover value for your investment. You might need to import contactors from the city, which can be expensive. Consider also the cost of clearing the land, which can be high.

Another cost that can be high is when building waste disposal systems. There may not be directly connected sewer lines meaning you have to build your septic tanks or bio-tanks. It’s more challenging developing property in the rural area than in the city. 

Study the environment 

Scan the environment on how near or far resources are from your property? If the water connection is far, you might have to face a high cost to bring the water to your property. Your property might be near a landfill, which is a problem you might be forced to stay with the rest of your life.

Check also if there is a material supplier near your property. If there is none, you might be forced to look for a lumber yard like Kansas City lumber yard, where you can get your building material supplies. Lumber One is located within Kansas City and is specialized in the supply of lumber, trim, decks, windows & doors, and hardware. 

Find out if your development is viable

You can put up development on your rural property and it fails to bring you any return because of the distance from the potential market or because of building unmarketable development. You can hire the services of a financial advisor who will study your location and advise you on the best investment to set up on your piece of property. 

Return on investment might sometimes take longer, depending on how fast your investment gains business. Have all the facts and data ready with you. 

Get the plans and approvals

After looking into all the possible challenges and advantages, go for the plans and approvals. It can be another challenging step because, in most cases, the approvals authorities could be located far, and mostly you can only get architects from the cities. Once your plans and approvals are ready, set the pace of your project and move on. 

Most resources will come from the city and you must consider the cost of transport and source for suppliers who are as close to your project site as possible. You may hire dedicated transport to transport your building materials promptly.