Arizona is one of the country’s hottest states — and we’re not just talking about the sky-high temps in this dry, desert region. Each year, this Southwestern state has been attracting millions of families, young professionals, and retirees in search of more affordability and opportunity
Property for Sale in Arizona — Steps to Make an Arizona Land Investment
T here’s no question that land in Arizona is an attractive investment in today’s market. Whether people are looking for rural property to develop a ranch or zones near cities like Phoenix for property development, there are many attractive features attached to AZ land. However, before looking through the latest Arizona land listing, investors have to consider the basics of buying land in this state. After reviewing the process of purchasing land in Arizona, people have an easier time understanding their options and whether this is the right move for them.
Establish Why You Want Arizona Acreage
Before spending tons of time and energy exploring the available land plots in Arizona, new investors need to have a clear sense of why they’re getting involved in this market. Without a clear vision for owning land in Arizona, it’s impossible to narrow down the available parcels for your preferences. For instance, those most interested in a scenic Arizona land plot with potential for tourism or real estate aren’t in the same category as those more interested in this state’s agricultural or livestock sector.
If you don’t already have ideas in mind for why to buy Arizona land, look into the state’s major industries and research the topographies, population densities, and climates in different zones to see which general areas best suit your purposes. The more thorough your Arizona land plan is, the more time you’ll save when scouting different land parcels and choosing the ideal opportunity.
While there are many Arizona land opportunities worth considering, here are a few attractive counties to help start your search:
- Pima County
- Cochise County
- Maricopa County
- Golden Valley
- Yuma
- Coconino County
- Yavapai County
- Camp Verde
- Scottsdale
- La Paz County
- Pinal County
- Navajo County
- Greenlee County
- Tucson
- Flagstaff
- Sierra Vista
- Dolan Springs
- Prescott Valley
- Yuma County
- Apache County
- Huachuca City
- Fort Mohave
- Cave Creek
- Gila County
- Graham County
Look Into Arizona’s Real Estate Zoning Restrictions
Zoning regulations can be a pain, but they’re a necessary nuisance every Arizona land investor needs to consider. Before diving too deep into any attractive Arizona property, look into zoning laws in the county to find out what’s allowed and what’s off-limits. For instance, what are the utilities or industrial development policies on certain land tracts? The black-and-white rules in local Arizona zoning ordinances tell you precisely what you can build in different areas, so always ensure your goals match the latest laws.
Figure Out Your Budget For a Vacant Arizona Land Plot
It’s also critical to consider how much capital you have to invest in Arizona land when sifting through listings online. Remember that buying a land plot in Arizona isn’t just one lump sum and you’re done — you also have to factor in costs of property taxes, upkeep, and other potential development expenses. Figure out exactly how much you have available to spend on Arizona land so you never overshoot your budget constraints. If you feel it’s necessary, consider hiring a professional Arizona real estate agent, land broker, or financial advisor to analyze your situation and determine the best opportunities for your financial needs.
Visit Your AZ Location and Conduct Due Diligence Screenings
After you’ve squared away your goals, zoning restrictions, and budgeting requirements, it’s time to look at the Arizona parcels you find most attractive. During this step, it’s best to work with a professional surveyor to give you a clear read on the boundaries of your potential property and assess the topography for development. It’s crucial to run tests on the soil quality if you intend to grow crops like wheat or raise livestock like cattle. During this stage, you should also consider any potential environmental concerns, water access, and the state of any current utilities or property infrastructure. Be sure to factor all of these findings into your cost analysis so you know what to mention when you enter the financing stage.
Secure Financing and Negotiate an Attractive Arizona Land Deal
Generally, investors who want to buy land in a state like Arizona work with local banks or credit unions to take out a loan. “Land loans” work like mortgages, but they aren’t as accessible as real estate loans since they carry higher risk from the issuer. In addition to putting your Arizona land down as collateral, you’ll likely have to pay higher interest rates at a faster repayment schedule when taking out this loan. Although these loans are a common way to finance Arizona land opportunities, there are other potential ways to secure financial assistance for this land. For example, many people in Arizona’s agricultural sector use the Farm Credits service for more options to finance their purchases. Whatever financial institution you choose, be sure to carefully review all the stipulations of the agreement, and negotiate terms that meet your criteria for the estimated value of the land and your available budget.
Finalize the Paperwork for Your Arizona Land Development
After you’re satisfied with the conditions in your Arizona land deal, sign on the dotted line and start making your interest payments till you own the land. As you’re paying off your loan, you can begin strategizing your plans for property development, livestock, or agriculture, depending on why you chose to buy your land. Ensure you know when you can start building on your Arizona land according to your loan terms to avoid legal hassles.
Is Arizona Land an Attractive Opportunity?
Arizona may be in the heart of the desert, but it’s a state full of gorgeous nature and attractive financial opportunities. With an Arizona land parcel, you have access to one of the nation’s fastest-growing states, including bustling industries like education, healthcare, and aerospace. Arizona is also an attractive state for agriculture and tourism, giving investors even more flexibility with their land development.
Despite all of the benefits associated with Arizona land, this state isn’t ideal for everyone’s preferences or budget. Carefully review all Arizona offers and whether the land in this state makes the most sense for your needs. After thoroughly analyzing Arizona’s potential versus your preferences, you should better understand whether it makes sense to invest in the Grand Canyon State.
