A landlocked property is a piece of land that requires the owner to walk or drive through someone else’s property in order to get to it because there are no roads that allow them access to this property. Despite all of this, many individuals do consider buying these types of properties in Florida. If you are considering buying a landlocked property, there are some things that you should know.
Problems with landlocked properties
Individuals often have issues with land use when they own a landlocked property. Some properties do have an easement in place that gives the owner the right to use someone else’s property in order to access their own. If there isn’t already an easement in place, they may find that the other party doesn’t allow them access to their property whenever they’d like to get to it, and they may no way to legally access their property. This can become a huge problem for those that want to live on the property or need to access it on a regular basis.
Why they can be a good investment for some individuals
Some individuals do buy landlocked properties because they feel that they will end up being a good investment. Because the property has limited access, they get sold for less than other similar properties that are accessible. Once the city creates a road that gives the owner legal access to the landlocked property, the value of it often goes up despite the fact that the owner hasn’t made any improvements to the property.
If you want to purchase property but don’t have a lot of money to spend, you should consider a landlocked property. Some individuals find that they are a good investment even though they have limited access to them.