6 Main Factors that Affect Land Buying Decision
Buying land in Cambodia is one of the best investment moves you can make, considering the possibilities it has for you to make a profit. However, choosing exactly the type of land you need to invest in as well as the land that will prove to be the most beneficial to you isn’t easy since there are numerous factors you need to look into. To make it easier for you, here are the six main factors to consider when buying land. Continue reading below!
First thing you need to check is if the land is accessible via major highways or if the conditions of the road leading there is good. After all, even if the land has numerous benefits, if it’s not accessible or even difficult to go to, it drastically lessens its profitability as well as development opportunities.
Fits your development plan
Considering buying land is the first step to other development, you have to ensure that it can accommodate your plans. Factors to check on what kind of business can be set up there, if any is possible, are the following:
- If it’s possible to build on that land
- If your business be physically possible using that land
- If your business or plan is permitted according to land laws in that area
- If your plan is financially feasible for you
- If your plan works best for the land you chose
Land laws in Cambodia dictate if land can be used for residential, commercial, or even if it’s part of a Special Economic Zone (SEZ). If it’s part of SEZ, then you can take advantage of more efficiency when it comes to logistics, investor incentive, as well as better infrastructures here. However, do check what the zoning rules are for the specific land you want to buy, whether it’s part of SEZ or a commercial land, to ensure that they’re strictly followed.
A sewer system and good utilities
Whether you plan to develop a business on a land or simply buy a land to lease to potential clients, it’s necessary to find out if it’s possible to get electricity and water to it or if it already has a drainage system. On the other hand, check if it’s feasible to install a drainage system in the land.
Good land and soil condition
If you want to establish a farm or a similar business, then you need to confirm if the soil is in good condition. Make sure that the soil is great so it can help grow crops and absorb water, otherwise the land will not be usable for this sort of business.
Other attractive features
Besides checking the land if it’s feasible to your plans, you need to know the development plans for the area so you can gauge the projected value of the land in the future. Checking the neighborhood and how close your land is to its neighbor will be necessary to ensure no potential issues there. Additionally, you need to know how close it is from other conveniences like parks, grocery stores and more or even to the city since it will drastically improve the value of your development.
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