Dangers When Buying A Home: Development

When purchasing a home or property to build on, you’ll want to be aware of what kind of development is happening around the property currently -- and what the potential for future development might be. These factors not only affect your quality of life, but they can adversely affect the current and future value of a property. You will want to know what kind of zoning exists on the property you are interested in and what kind of zoning and land use regulations exist on nearby properties. This will allow you and your buyer representative to evaluate the restrictions of what can be built in proximity to the property you are interested in, and its potential impact. Here again, a skilled buyer's broker can provide valuable information and insight into development impacts in the communities they serve.

Could you ever imagine a seller representative advising you to call the local building and planning department to find out if there are any potential developments in area that may adversely impact the sale of their client's listing?

Hell would be more likely to freeze over, I can assure you.

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Note: The terms "buyer's broker," "buyer's agent," and "buyer representative" are used interchangeably on this site. Different locales use different terminology for the same idea: a real estate professional who represents you -- the buyer.