Here is week 34 in our series of home buying tips: Zoning.
Zoning isn’t just a potential problem for commercial real estate. Imagine this – a property that is two separate parcels is being sold together, and they are each zoned differently. The lot the home sits on is zoned residential, but the adjoining land, which was the major appeal for buyers, is zoned for “light agriculture” as the previous owners maintained a small avocado grove on the property.
Not only will this affect insurance, but there could also be different loan types for each zone. You may be able to address these issues, but it will more than likely increase your overall costs.
If you think you may be running into a zoning issue, call us immediately so we can research the regulations. Sometimes we discover issues can be solved easily, and other times we allow the current owner to resolve bigger problems.