There are many economic factors to consider before a decision is taking on land acquisition in a particular location. A proper knowledge of the environment, government/vendor restrictions is essential in order to avoid pitfalls.
What is a natural environment ?
A natural environment is an environment that has not been tampered by the actions of man. On the other hand, a built up environment is a natural environment that has been changed considerably by man’s action.
In a natural environment you will often see vegetation including various sizes of trees, wildlife, natural waterways, and rocks. But in a built up environment man alters the natural environment to build houses, roads, water conductors and so on.
Natural and built up environment as it relates to acquiring of a landed property.
The acquiring of a landed property will usually precede the construction of a building on it. The location of the land is important as it has a considerable effect on the cost of the building.
It may cost more to acquire a landed property in a built up environment however, the presence of access roads, water and electricity would make the building constructed economically viable.
On the other hand it may cost less to acquire a land in a more natural or less developed environment but may cost more to build and use the building. This is because this kind of environment is characterised by undeveloped roads, thick vegetation, limited or lack of social amenities.
Other environmental considerations include;
- Town Planning requirements and building regulations
- Land restrictions by vendor
- Adjoining buildings or land
- Use of building
- Daylight and view aspects
The physical features around or within the land property should also be taking into consideration. Things to be look out for include:
Land level; is the land level or is it slope. If sloped how steep is it. It may usually cost more to build on a land that is sloped.
Vegetation: how intense is the vegetation?, How many trees are present and how big?. Considerable amount may be spent on removal of vegetation.
Condition of soil: what type of soil is present?, is it swampy, clayey, waterlogged, rocky, sandy etc. these may have a considerable impact on cost of foundation for the building.
Other physical conditions include;
- Size of land
- Natural waterways, lakes, ponds, streams and rivers.
- Approach and access roads
- Shape of land
- Services available
- Climatic conditions
- Restrictions such as right of way, tree preservations