People find many creative ways to leverage a profit on real estate. One possible way to turn a profit on a purchased property is to subdivide. Subdividing your property can allow you to keep your home, by reducing your lot size and selling it off. The process to obtain a permit to subdivide may not be an easy or quick one, but if you’re armed with the right information and follow your application methodically, it’s certainly a possible and potentially profitable option.
First off, it’s important to note that each municipality will have their own unique application process for subdivision. This article details the most common steps in the subdivision process, although the process may differ from state to state, or town to town.
If you’re looking into purchasing a property that you’ll subdivide down the line, do some investigating before hand. You’ll need to look at a survey of the land in question and look into the municipality’s subdivision requirements. The property your looking at subdividing will have to satisfy certain minimum lot requirements according to your municipality’s application. Take note, that...
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