Zoning Considerations Before Investing in a Property
For an investment as significant and large as real property, zoning and land use is one of many crucial considerations. Although it is more relevant for commercial acquisitions, residential real estate investors may also have zoning concerns regarding upgrades, new construction restrictions, etc.
A real estate in lawyer in Florida can serve as a valuable source of advice regarding zoning issues for any given property. Before you decide to move too far into any deal, you will want to take care of some preliminary zoning research on your own or with the help of your attorney, and not just rely on what the seller is saying.
Check current zoning restrictions
You should be fully aware of any current zoning restrictions to help you plan your utilization of the property. Local zoning laws will restrict how you can use the property from a business standpoint.
In addition, both federal and local zoning laws cover a wide range of other areas including parking requirements and availability, accessibility for disabled people, signage, size of the building, exit requirements, safety and health regulations and more.
As you can see there are many complex areas to cover, and an attorney can assist with researching or advising on any of them to help you determine whether or not a property will meet your goals.
Are there additional restrictions?
There may be other restrictions in how you can develop or design your property. For example, it may be located in a historic area with strict development regulations. In other cases, it may have wetlands or floodplain restrictions that prevent alterations that would affect the topography of the land.
The area may have wildlife or endangered species restrictions. Your attorney can help you with researching these special scenarios so that you have a more comprehensive picture on every restriction before you decide to invest.
Consider the future
How will the surrounding area develop to help your business grow? Will you be able to add to the property in the future when your business grows? Will there be new businesses launching nearby that will add or take away from your investment?
Get familiar with local development plans and what’s going on in the area around you. It all has an impact for any real property investment. Investing in a bustling neighborhood where the local government or developers are spending large resources can significantly contribute to the appreciation of several types of commercial property investments.
Learn more about local zoning by speaking to a Florida real estate lawyer at Schecter Law today by calling (954)-779-7009.