After several years of diligently saving money, I’m nearly ready to purchase my first home. Because I’ve been thinking about buying a home for so long, I know exactly what I want my house to look like. I desire a place that has three bedrooms and three bathrooms. I also need a quiet space to set up my home office in. I want a massive, walk-in closet in my master bedroom. My master bathroom needs to have double vanities, a tiled, walk-in shower, and a Jacuzzi tub. On this blog, I hope you will discover how to set priorities during your new home search. Enjoy!
Were you considering purchasing a piece of land for either building a home, hunting, or for other purposes? If so, know that it is not as simple as finding a plot of land for the right price. Here are some things to consider regarding land rights so that you won't run into problems later.
Will You Own The Mineral Rights?
One thing that you want to know is if you own the mineral rights to the land. A mistake that some people make is not fully understanding what mineral rights are and the potential consequences. If you don't own the mineral rights to a piece of land, someone else can buy them and have the rights to use your property to mine for those minerals. They can even create a road that goes through the property to gain access to the mining site and equipment.
Another problem with not owning the mineral rights is that it will make it much harder to sell the land later on once someone starts using the land. Nobody will want land that is shared with equipment and workers, which will cause your property to lose a lot of value.
Will You Have Timber Rights?
You may think that owning a property means that you are free to do whatever you want with your property, including cutting down trees and selling the wood. You'll want to make sure that you have the full timber rights to the property. Even if you have the rights to the wood, there may be restrictions on cutting down trees on the land. Have your real estate agent do some research to verify if any restrictions exist.
Will You Have Any Easements?
Do you want to fence off your property or make it completely private? You may run into a problem if there is an easement on the property. This means that another person will have access to travel through your property to reach their own, which is necessary because there are not any roads that allow them to access their property in other ways.
Will You Have Hunting Rights?
Don't assume that owning the land means that you can hunt on it. Some states have restrictions where you must own hunting rights to the land that you own if you have a desire to hunt on it. If you don't know the laws, you could end up hunting on your own land illegally.
Work with a real estate agent to learn more about these and other issues that come into play when you are looking at land for sale.