Buying land for sale in Northern Ontario

Countryside

If you are interested in buying land in Ontario to build your retirement home as an investment or for other commercial purposes, much research and surveys are required. After you get your financing right, here are a few things you might want to look out for during your research in purchasing land in northern Ontario;

Types of Land

Raw land

As the name suggests, raw land has never been developed, and therefore, you should not expect to find utilities like power and water in them. Raw land is owned privately, and you might not even find a road leading to the ground.

Vacant land

Vacant land is serviced just a little bit, and you might find power and a source of water. In an empty land, you might find a road or even septic depending on the amount of development done. On vacant land, there are no structures like houses. The owner of vacant land is also a sole private proprietor.

Crown land

Northern Ontario land for sale mainly comprises Crown land. The provincial government owns crown land. Crown land has a lot of restrictions on it which means that any purchase or rental of the land must be reviewed under the Ontario crown land disposition policy. The good thing is that to ensure that the public can afford crown land, it is sold at market value.

If you are wondering what type of land you should invest in or purchase, then you might want to check out for restrictions. If you buy land based on your budget, raw land is the most affordable since the more minor the development on the ground, the cheaper it might be.

Financing Land In Northern Ontario

Land loans

Land loans are the most common form of financing for land in Canada. Land loans, however, most work for crown lands since, for raw and vacant lands, it is difficult to attach the value of the land as collateral for the loans. The type of land you choose will determine the down payment you will have to make. Raw land requires a higher down payment than the rest of the land and a higher interest rate.

Personal loans

If you can afford it, you have an option to pay for the purchase in cash or take out a personal loan to add to your savings to complete your purchase. An easier way will be if you own a home where you might be allowed to use a home equity line of credit to get a loan to purchase land. Mortgage refinance can also assist in your land purchasing.

Seller financing

As the name suggests, the landowner can act as your lender. You will give them a down payment on the land and then agree on how much income you will make after a specific time, possibly a month, as you would while paying a bank loan.

Conclusion

Depending on the purpose of your purchase, you decide on your choice of the land you might purchase, considering access, the type of soil, and development, among other things.

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Rightmove logo
Breaking News

Rightmove asks government to carefully consider property tax changes

The UK’s largest property platform Rightmove is asking the government to carefully consider the impact of any changes to property taxation to avoid unintended consequences which would risk stalling parts of the market. Key data National property tax Just under a third (30%) of homes for sale in England are priced at over £500,000, and…
Read More
Estate Agent Talk

Get Fast and Reliable Basement Flood Cleaning Services

Having water in your basement is awful. It could be because of a storm, busted pipe, or bad sump pump. Whatever the reason, water damage in your basement has disastrous effects if not dealt with. Basement Flood Cleaning Services are what you need. They will dry it out, disinfect the floor, and have your basement…
Read More
Breaking News

Breaking Property News 21/08/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Providing comprehensive, predictive operational intelligence across all aspects of building operations  JLL (NYSE: JLL) this week introduced artificial intelligence (AI) capabilities that are now available as an add-on to Prism, its award-winning building operations platform. As part of JLL’s property management technology ecosystem powered by…
Read More
Breaking News

UK House Price Index summary: June 2025

The average monthly rate of house price growth in June was 1.4%. The average annual rate of house price growth in June was 3.7%, up from 2.7% in May. As a result, the average UK house price remains at £269,000.   CEO of Yopa, Verona Frankish, commented: “June’s figures reflect a market that is steadily…
Read More
Breaking News

Private rent and house prices, UK: August 2025

Average UK monthly private rents increased by 5.9%, to £1,343, in the 12 months to July 2025 (provisional estimate); this annual growth rate is down from 6.7% in the 12 months to June 2025. Average rents increased to £1,398 (6.0%) in England, £807 (7.9%) in Wales, and £999 (3.6%) in Scotland, in the 12 months…
Read More
Breaking News

Industry response to latest inflation figures

Nathan Emerson, CEO of Propertymark, comments: “Unfortunately, any increase seen within the rate of inflation does brings very justified concerns to consumers, many of whom are still struggling with the cost of living, which has been steadily rising over the past few years. “Although there is more work to be done to help ensure inflation…
Read More