The selling price of land per square foot is the measure to use when comparing prices.
In Quebec, this will generally be in the range of 1$ to 10$/square foot.
It is important to understand that several factors affect the market value of land.
Factors Affecting Land Value
Here is a non-exhaustive list of what affects the value of the desired land:
- Accessibility
- Local market demand
- Location
- Environment and view
- Land history (contamination, previous use)
- Infrastructure and services available
- Development potential
- Size and shape of the land
- Topography and soil conditions
- Zoning and regulations
By learning about these elements, you will be able to determine your ability to negotiate the price of the land that interests you.
How to find the zoning of a building?
Online consultation
The most direct method to find a building's zoning is to visit the website of the municipality or borough where the property is located.
Look for the section dedicated to urban planning or urban planning. Most municipalities provide interactive zoning maps or online databases where you can enter the property's address to obtain detailed zoning information.
Using interactive maps
Interactive maps, available on municipal websites, are valuable tools that allow you to easily visualize the zoning of a building.
Enter the property address in the search field to view its specific area and access the regulations that apply to it.
Urban Planning Department
For more detailed information or in case of doubt, you can contact the municipality's urban planning department directly.
Urban planners can provide you with zoning sheets specific to the building you're interested in and help you understand the implications for your project. They can also inform you about the procedures for requesting zoning variances or amendments, if necessary.
Google Search
A simple Google search using the keywords "interactive zoning map" followed by the name of the municipality or borough can also direct you to the appropriate resources.
Be sure to check the reliability of the information by cross-referencing it with official data provided by local authorities.
Accurate knowledge of a building's zoning is essential to properly plan your project and ensure its compliance with local regulations.
This step allows you to avoid unpleasant surprises and maximize the potential of your real estate investment.
3. Budget and financing
Prepare a detailed budget that includes all costs associated with purchasing and developing the land. Explore financing options and consult a financial advisor.
Generally, the financing you can obtain depends on your project.
If you're ready to build quickly, the financing will be similar to buying an existing home, as you'll be moving into the property soon, so you can take advantage of mortgage insurance (CMHC). A minimum down payment of $5% will be required.
If you are buying the land but have not yet decided on the project and the date of its implementation, then you will probably have to put down 20% as a down payment.
Please note that financing depends on the financial institution and your relationship with it. Other factors are considered, but you should discuss these with an advisor.
4. Access to services and infrastructure
5. Importance of field inspection
Analysis of soil conditions
Carrying out a geotechnical study to assess soil conditions is essential.
This analysis helps determine the need for special foundations or soil treatments to ensure the stability of the construction.
Identifying potential constraints, such as unstable soils or the presence of contamination, is crucial to avoid complications and unforeseen expenses.
Topography Assessment
The topography of the land has a direct impact on the design and cost of your project.
Whether the land is sloping or flat, each configuration has specific advantages and disadvantages, influencing the necessary earthworks and drainage solutions.
Taking environmental factors into account
Environmental factors such as sun exposure, prevailing winds, or proximity to waterways must be assessed for their impact on planning, energy efficiency, and living comfort.
The presence of wetlands or protected species may also impose use restrictions or require special permits.
Understanding the immediate environment
The inspection should encompass the immediate environment and local context, including accessibility, public services, and future development plans. This comprehensive view allows for a full understanding of the land's potential and limitations, ensuring the harmonious integration of your project into its surroundings.
A detailed site inspection is therefore a fundamental step, allowing you to approach your construction project with a thorough understanding of the various constraints and opportunities. It forms the basis for a successful project, minimizing risks and maximizing the chances of completion in accordance with your expectations.
6. Local restrictions and regulations
We already discussed zoning in point 2, but here are some other important local restrictions and regulations to consider.
Environmental standards
Local environmental standards play a crucial role in preserving natural resources and protecting the environment. These standards may include restrictions on deforestation, requirements for runoff management, or specific measures for the protection of flora and fauna.
Failure to comply with these standards can result in penalties, fines, or even the cancellation of your building permit. It is therefore vital to ensure that your project complies with all applicable environmental laws.
Architectural and heritage
Certain areas may be subject to architectural or heritage regulations aimed at preserving the aesthetic or historical character of a neighborhood.
These regulations may impose limitations on exterior modifications, construction materials, and even the colors used.
For projects located in such areas, special attention must be paid to the design to ensure it complies with local guidelines while meeting your needs.
Approval procedures
Familiarize yourself with local construction project approval procedures, which may include submitting detailed plans, conducting environmental impact studies, or attending public meetings.
Understanding this process will allow you to effectively plan your project in terms of time and budget, avoiding delays due to change requests or objections.
Interaction with local authorities
Establishing open and proactive communication with local authorities is beneficial in navigating regulations and restrictions.
City officials provide valuable guidance, clarify specific requirements, and help you understand the nuances of local regulations.
This interaction can also facilitate the approval process for your project.
By taking the time to understand and comply with local restrictions and regulations, you minimize the risk of legal complications.
In addition, you ensure smooth progress of your construction project.
This contributes to the success of your project and strengthens the quality and sustainability of development within the community.
7. Verification of land contamination
Consult the Quebec government's contaminated land directory to identify contamination risks and consider an environmental assessment if necessary.
1)
Click on the map tool link
2)
Click on service access
3)
Enter the address of the site to be analyzed. The tool will direct you to the correct location using the address, and you will be able to see on the map if there are any contaminated areas nearby.
As you can see in the image below, the blue box shows the legend of possible contaminants. These indicators will be found on the map if there are contaminants near your property.
To view a document (sale, mortgage, etc.) you simply need to click on its registration number (the 2nd column).
You will then be redirected to a page for a fee. Once you pay the fee, you will have access to the desired procedure.
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