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

Breaking News

Bank of England Money and Credit Report – March 2025

These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals increased sharply by £9.7 billion to £13.0 billion in March,…
Read More
Estate Agent Talk

Selling fast! Spruce up your home ahead of double Bank Holiday viewing rush

Average property takes 145 days to go under offer, but some get snapped up in as few as 13 days Property expert shares top tips to get your property sell-ready in hours ahead of May Bank Holiday showings Spring is house-moving time for many Brits and the double Bank Holidays in May are peak time…
Read More
Estate Agent Talk

What Manchester Homebuyers Should Know, According to Conveyancers

Buying a home in Manchester can be one of the most exciting and significant decisions in your life—but it’s also one of the most complex. Whether you’re a first-time buyer or moving up the property ladder, navigating the legal and administrative side of a home purchase can be daunting. That’s where conveyancers come in. These…
Read More
Breaking News

Housing sector ranks second for customer complaints

New research from Ventrica has revealed the revenue benefits for brands that invest in providing emotive customer experiences (CX) that consumers want. The company surveyed over 2,000 UK consumers and found that over the last 12 months, only 4 per cent of positive experiences were delivered by AI and only 18 per cent were a…
Read More
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker – 30/04/25

Rightmove’s mortgage expert Matt Smith says: “Average rates have continued to slowly come down over the last week, while the cheapest available fixed mortgage rate is a 2-year fixed rate at 3.79% for those with the largest deposits. I think lenders are now biding their time until the 8th May Bank Rate decision, and will…
Read More
sold purplebricks
Breaking News

Latest HMRC UK Property Transactions Report

Headline statistics from the latest transactions data include: The provisional seasonally adjusted estimate of the number of UK residential transactions in March 2025 is 177,370, 104% higher than March 2024 and 62% higher than February 2025 The provisional non-seasonally adjusted estimate of the number of UK residential transactions in March 2025 is 164,650, 89% higher…
Read More