Over the course of this blog series we want to give detailed advice on how to make the property perfect for you. That being said, there are many things to get in line before a property is full time livable. We hope to ease some of these pains and make land ownership easier.
This entry is the starting point for more detailed articles to come. In this piece we will hit a few points that you may or may not be thinking about and then we will break those down in more detail in future posts. This should give you a good starting point of what to consider moving forward.
Land improvements are the first thing to think about. When buying raw land, the first things you think about are water, septic and electricity. These are just a few things to consider. There are many other ways you can protect your property while increasing its long-term value.
Accountingcoach.com defines land improvements as: “A long-term asset which indicates the cost of the constructed improvements to land, such as driveways, walkways, lighting, and parking lots. Land Improvements will be depreciated over their useful life by debiting the income statement account Depreciation Expense and by crediting the balance sheet account Accumulated Depreciation: Land Improvements.”
Taking out the accounting jargon, this states that even small improvements can make a difference in the worth of your land. Remember this when you first start making your property your home, or home away from home.
As for the bigger items, water, septic, electricity and even insurance, we will cover those in detail in future articles. So stay up to date on our posts where we will take each of these one by one to give you all the help we possibly can to make this process easier.
Mountains West Ranches
