We are willing to bet that most people know the process of buying a home. It involves deciding on your budget, scoping out some houses you want, seeing which of those houses meet your requirements, and probably acquiring a mortgage to pay for the property.

Buying land is not dissimilar, but it involves making some extra considerations and going a few extra steps to make it work out. But if owning hunting or farming land is something you have been dreaming about your whole life, and you are willing to put the work in, a beautiful plot of land can indeed be yours. Imagine yourself hunting whitetail or making a living as a farmer on your very own acreage. That is what may lie at the end of this road.

So, if you have been wondering how to buy land in Michigan, we have the answers for you. Just follow this guide for some expert tips on getting it done.

1. Determine Your Budget

As with any purchase of property, you will need to be able to come up with the required down payment and then all future monthly payments. Depending on your financial situation, this part of the buying process may limit what you can afford, but it is important to stay within the monetary range that you eventually determine. Making a dream reality does take work and sacrifice, but you do not want to compromise your financial security just to acquire your plot. Decide a budget and stick to it. This will only help you in the long run.

2. Acquire Financing

When you have decided your spend ceiling for buying your land, you will most likely need to acquire financing from a bank or other lender to afford the purchase. It is worth studying up on how this works before acting.

Just as with buying a house, you will need to apply to a bank for a loan, and that bank will respond initially by reviewing your credit history to see how likely you are to repay the loan. The lender will also consider the fact that you are financing land rather than a house. It is easier to place numerical values on houses because they include quantifiable elements. Empty land cannot be valued as simply as a house. With the land’s value difficult to determine, the lender takes on the risk of possibly not being able to resell the land should you default on loan payments.

The lender may account for this risk by charging you higher interest rates. The rate you will pay depends on your credit score and where you go for financing, but it is important to keep these facts in mind anyway.

3. Decide What Type of Land You Want

Now that you have gotten the financial aspects out of the way, it is finally time to begin looking at plots of land. There are two major types of land plots: raw and improved. As its name implies, raw land is untouched by people. It exists in its natural state. Improved land, meanwhile, has been changed in some way to make human occupation more convenient. These changes could be anything from new structures to utilities such as a sewage system. In general, it is more difficult to obtain financing for raw land because this type of plot does not include desirable features like improved land does. It would thus be more difficult for a bank to resell.

4. Work with a Buyer-Focused Agent

You can make the entire process of buying hunting land easier by hiring an agent to find the right parcel for you. Tell the agent the budget you are working with, where you are looking for land, and how you like to communicate. Good communication is vital to creating a productive relationship with your agent. He or she should answer when you call and listen to what you say. Finally–and, of course, this goes without saying–your agent should be an expert in the buying and selling of hunting and farming land and should know how to guide you to make the best decision for yourself.

For instance, if you are interested in a certain plot, ask your agent about accessibility. You might love the land but be turned off by its isolation or inaccessibility by vehicle. Furthermore, if you cannot even drive to the land, how would you move your farming machinery onto this land? It may require creating your own access road. This brings up even more questions, such as: will this road cut through a neighbor’s property? Will you be able to afford to make the road at all?

A good hunting or farming land agent will be able to answer all these questions for you, or at least find the answers. If you discover that working with this agent is only causing you more stress, it is time to find a better one.

5. Research Your Chosen Plot

So, you have gotten to this point. You and your expert land agent have found a plot of land for which you would be willing to pay hundreds of thousands of dollars. It checks all your boxes, and you can easily see yourself hunting or farming there. That is great news, but this is possibly the most important stage because now you must research the land to make sure it is a safe purchase.

This involves, firstly, asking to see a recent land survey or having a new one done. Surveys tell you where the land boundaries are and will save you from conflicting with your neighbors should you end up unknowingly trespassing on their property. It is also important to work with your agent to find out what easements are allowed on your land (such as utility companies running power lines), what the zoning laws are, and whether any taxes are owed on the land.

Knowing all this will help you either to complete the purchase or back away.

6. Enjoy Your Land

The time is finally here. You have been through all the financial considerations, agent vetting, and land research. You have submitted your down payment and are prepared to make future monthly payments to your lender. And your hunting land is yours. You have all the acreage you could ever want to hunt, farm, and build on.

Making those kinds of dreams come true is what we are all about at Michigan Whitetail Properties. Our land sales specialists have been working with prospective buyers just like you for many years, listening to your concerns, helping you through the process.

Our list of Michigan properties for sale features all kinds of plots in various geographies across Michigan. Contact one of our sales agents today to get started on your own journey to owning that plot of Michigan land you have always wanted.