If you have land spread over a large area, there are a number of reasons why you should consider subdividing it. What is subdividing you ask, well, subdividing is a process of dividing an existing piece of land into smaller chunks, for a variety of reasons including raising the land’s value.
This process is done by a surveyor and is referred to as a subdivision survey. Considering the significant value of your assets, you must only hire professionals with a reputable name & credible experience.
So, to start with, let’s first understand what a Subdivision Survey is.
What is a Subdivision Survey?
A subdivision survey is conducted to split a parcel of land into smaller pieces, involving at least two or more parcels. The divided lot then needs to meet the zoning requirements of the area, and a variety of other bylaws mandated by the city authorities. If the survey fails to meet the necessary requirements, the plan to divide the land will thus be rejected.
The extent to which the survey should be detailed varies with the governing jurisdiction. The survey first gives the owner a detailed structure of the boundaries of the land, then a topographic survey is done to measure other important characteristics of the land.
Boundary survey, land title survey and construction survey are just a few types of subdivision surveys available. These surveys show accurate division of the land into smaller lots.
Benefits of a Subdivision Survey
There are multiple benefits of a subdivision survey, a few of them are mentioned below.
● A subdivision survey helps increase land value. Generally, small lots of land are more valuable than bigger lots. If you have a bigger lot and are having problems finding a buyer, you may want to consider subdividing it. Not only will this help you sell it faster, but also increase the return on your investment.
● Secondly, a thing you should know is that smaller parcels of land are easier to sell. Yes, it might be slightly inconvenient finding multiple buyers for each lot, but it’s much easier to find a buyer who wants a smaller lot than a big one. Plus, big lots are in demand only for very particular projects, while small lots can be used for houses, commercial projects or even a store.
● Maybe you aren’t comfortable with selling the entire land, but you don’t have a problem downsizing. If this is the case, then subdividing your property could be a great idea, as you sell only a small part of your property while you retain as much of it as possible.
Remember this when Subdividing
While subdividing is monetarily lucrative, there are a bunch of other factors that you may wanna take into consideration. Such as, when you’re dividing your property, you may need to make improvements in your electrical, drainage systems or sidewalks, in addition to complying with the zoning restrictions. These matters should be thought of prior to making the decision of subdividing your property.
Make sure that your subdividing plan serves the market in your area as well as yourself. Create properties that are in demand in your area, to get the most out of liquidating your asset.
Although you have ownership of your property, local homeowner’s law can restrict you from doing certain things with your property. They can even prevent you from subdividing your land in the first place. It’s always better to consult with a land surveyor and learn about all the restrictions in place before you decide to subdivide your property.
At Core Geomatics, you will meet an amazing team ready to advise you on your surveying project, and help you assess the decision that works best in your favor. Subdivision is a significant process, and shouldn’t be rushed. Make informed decisions.