Real estate is a hot commodity today. Not long after the recent sub-prime mortgage crisis hit the country, and the economy fell like a rock, housing prices dropped as well. Now with such low prices people are jumping to purchase the very best real estate they can afford. It is really a free for all when it comes to real estate. People new to the real estate market have numerous items which they must understand prior to going to close on a lot or a house. The sort of land which is being purchased, together with the improvements which are there, is most important information which all real estate purchasers must have.

The types of extras which are part of the land to start with, or have been built on the land for sale, are part of what makes certain pieces of real estate that much more valuable. These types of accessories vary from lot to lot. Having nice landscaping on the property makes a big difference. A lot that is covered with lots of trees will sell for a lot more than one that's bare. What you are planning to do with the lot will impact whether or not it is worth the asking price as well. A person planning to create a links golf course with the land will obviously pay less if there are many trees that need to be removed.

An improvement which is quite frequently missed is a fire pit. If there's a home on the lot these small firepits will often increase the list price by a thousand dollars. This is due to the high demand these days of having a fire pit. Twenty years ago, a fire pit in the backyard would have been seen as a nuisance and the buyer may have paid less because of it. But presently the fire pits are experiencing great favor as the perfect gathering place for warmth in the night's cool air. Fire pits come in various shapes and sizes.

Sometimes people construct a fire pit directly into the foundation of their home. In these cases, the house is frequently more costly than normal houses; in addition to the built-in fire pit, or one located on a deck or patio, the house frequently is generally nicer than normal houses.

Any property which is under consideration should be examined carefully prior to making a purchase. If you find a fairly inexpensive parcel that already has a pit, or even the potential for one, it's possibly going to increase in value in the near future. This is the kind of lot you'll want to buy immediately due to the potential for an increase in value.