Buying land to build on requires careful consideration to ensure you’re making a sound investment. Here are important factors to consider:

1. Location: Research the location thoroughly. Consider proximity to amenities such as schools, hospitals, shopping centers, transportation hubs, and employment opportunities. Also, check the neighborhood’s infrastructure and future development plans.
2. Zoning and Land Use Regulations: Understand the zoning laws and land use regulations in the area. Check if the land is zoned for the type of construction you have in mind (residential, commercial, mixed-use, etc.). Additionally, be aware of any restrictions or limitations imposed by local authorities.
3. Accessibility and Utilities: Ensure the land has access to roads and essential utilities like water, electricity, sewage, and internet connectivity. If these utilities aren’t readily available, investigate the cost and feasibility of getting them connected.
4. Topography and Terrain:Assess the land’s topography, slope, and terrain. Consider if it’s suitable for the type of construction you’re planning. Steep slopes or uneven terrain might require additional costs for site preparation and construction.
5. Soil Quality and Environmental Factors: Conduct soil tests to determine soil quality and suitability for building. Also, consider environmental factors such as flood zones, potential environmental hazards, or protected areas that might restrict construction or add extra costs for compliance.
6. Survey and Boundary Issues: Get a professional land survey done to identify boundaries, easements, or encroachments. This ensures you have a clear understanding of the property’s boundaries and any restrictions that might impact construction.
7. Permits and Legal Considerations: Understand the permit requirements and legal procedures for building on the land. Check if there are any pending permits, environmental assessments, or legal disputes related to the property.
8. Costs and Budgeting: Calculate the total costs involved in purchasing the land and building on it. Consider not only the land price but also construction costs, permits, taxes, fees, and any additional expenses that might arise during the building process.
9. Future Development Potential: Consider the potential for future appreciation. Look for factors like upcoming infrastructure projects or developments in the area that could positively impact property values.
10. Consult Professionals: Seek advice from professionals such as estate agents, land surveyors, architects, solicitors, and town planners. Their expertise can help you navigate through various aspects of purchasing land and building on it.
11. Cost to Acquire and Develop: Consulting a Development Finance Broker is the quickest and easiest way to establish if your development project has the profit margins to make the project viable. Even if you have the cash to develop the entire project as well as acquire the land, it is always worth consulting a development finance broker because they have access to specialist finance lenders who may be able to provide a tax efficient or low risk form of funding to help you with cashflow for the project or to keep aside for other investment or project needs.

Before finalising the purchase, thoroughly inspect the property and address any concerns or unanswered questions you may have. Take your time to make an informed decision that aligns with your goals and budget.