House and Home

The 4 Biggest Land Buying Mistakes – Buying Land

If you have been drawn by the warm weather, charming old cities, beautiful beaches, lush nature and colorful culture of Yucatan for your retirement, one option you can consider is Yucatan land. While properties in Yucatan tend to be very well-priced, excellent options in Yucatan land can be found at even lower prices, allowing you to save more of your retirement funds to enjoy life here.

In June, another land owner put themselves at risk, building a bridge over a stretch of the Canoochee River frequented by anglers and paddlers without formal permits from the US Army Corps of Engineers.

Falling In Love Before You Know The Facts: Love at first sight. It might work with romance but it doesn’t work with land. Don’t fall in love with a piece of land until you have all the facts. What negatives does the land have? Do you like the area? Do you like the neighbors? How is the road that accesses this property? Will you still like the land in 5 years? Slow down, don’t rush into an offer. Take a deep breath and think about it before you sign the contract.

Buying Land With Title Problems: There is no reason to buy land with title problems. Use a title company, get a title insurance policy, which will protect you against title problems. I have seen many sad stories of people purchasing land and finding problems later.

Understandably, many of us dread the paperwork and delay associated with getting that written authorization. But when you are preparing to do work, other than harvesting or managing your timber, in wetlands or along the banks of some body of water, it’s the right – and smart – thing to do. After all, the law holds you, the landowner, accountable to getting it right, not the consultants and construction firms that advise you.

Buying Land Without Legal Access: It is possible to buy land and have no right to get to it. This happens when you must cross other land to get to yours, and have no legal right to cross the other land. Make sure the title company is insuring access to the property.

This means two things; one is that you will be enjoying retirement in the type of community, size of property and style of home that you want. The other is that you will not put large pressures on your hard-earned retirement savings to do so.

This last point will leave you with more funds to enjoy retirement, and treat yourself to going out, traveling (the Yucatan Peninsula has many, many great places to travel, and good air-travel access to a large number of other destinations,) and other little luxuries in life. The cost of living is also noticeably lower, meaning that on a day to day basis, your savings will go that much further.

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