Rezoning Your Property: The Ultimate Guide to Making Money
Over time, neighborhoods and cities undergo changes. The local government will rezone an area and change the zoning classification when a community's needs change. For instance, what was once farmland is now a neighborhood with brand-new homes, shopping malls, and business parks.
Landowners may find it profitable to convert their property through rezoning. They can take a plot of land and construct a commercial center in a rural location, or they might construct an apartment building in a historic neighborhood. However, there are a lot of factors to take into account, and there is an entire property rezoning procedure to go through.
So you’ve got a piece of property that you think has potential for more money? Maybe it’s in the right location but the zoning is all wrong. If this is the case, rezoning your property could be the key to unlocking its full potential! In this guide, we will walk you through everything you need to know about rezoning your property – from what it is, to how to do it, to what kind of profits you can expect. Let’s get started!
What is Rezoning?
In short, rezoning is the process of changing the legal designation of a piece of land. This can be done for a variety of reasons, but most often it is done in order to allow for different types of development on the property. For example, if a piece of land is currently zoned for agricultural use, rezoning it to a residential zone would allow for houses to be built on the land.
The process of rezoning usually starts with a proposal from the property owner to the city or county in which the property is located. This proposal will outline what the owner wants to do with the property and how it will fit in with the surrounding area. From there, the city or county will hold a public hearing on the proposal to get feedback from the community. Once all of this is taken into consideration, a decision will be made on whether or not to approve the rezoning request.
How may the zoning be changed?
It can be challenging and expensive to change the zoning. Depending on where the property is, the process could be very difficult. Furthermore, there are no assurances that the rezoning request will be granted. Landowners must be informed of these details before proceeding.
The process basically involves a landowner asking a governing board to change a property's zoning. The lack of standardized zoning ordinances contributes to the difficulties and expense. Every zoning-affected county, city, and town is free to enact its own rules, regulations, and procedures. The zoning ordinances of neighboring cities might differ greatly from one another.
A political procedure is also involved in zoning changes. There are public hearings, and parliamentary approval is required. The political process may be very expensive—and distasteful.
I can only give extremely general instructions on how to change the zoning of your home because every location is unique. In some circumstances, the process may even require the involvement of lawyers. Simply put, no article could possibly cover everything.
What are the Steps to Rezoning Your Property?
Now that you know a little more about what rezoning is, let’s go over the steps you need to take in order to get your property rezoned.
LAND DEVELOP 101: Choosing the Proper Land Parcel
1. TAKE A LOOK AROUND THE PLACE
Are there any recent changes to the neighborhood? Has the environment around the property changed? Does the population increase? Has a new road or sewer line affected the neighborhood's dynamics? As the petitioner, the landowner is required to defend the suggested modification. It's not always enough for something to be done just because the landowner wants it to. Although many places will be fairly limiting, some will show tremendous attention to the landowner's rights as the owner of the property. Therefore, it's best to be prepared to support the request with evolving circumstances.
2. RECOGNIZE THE LOCAL LAWS
The guidelines must be read online by petitioners. They need to learn about the current zoning and what can and cannot be done right now. They must then visit and speak with the neighborhood planning office. The petitioner should not be very explicit at first if they prefer not to, but they should be mindful that the staff may exercise significant influence in the days to come. The staff will examine the rezoning request and offer recommendations. Petitioners ought to present themselves in the best possible light.
3. HAVE TIME AND TALK WITH YOUR NEIGHBORS
They are the ones who can stop you the most. It is best to discuss the ideas with them up front and work out any issues. The petitioner shouldn't believe they can keep things hidden because they will probably still be informed. The petitioner will want to ensure that the planning team and elected authorities, who will ultimately decide on the request, have the easiest possible time. But keep in mind that you can't please everyone. Some people will always and everywhere have a "NIMBY" (not in my backyard) attitude. But you must attempt.
4. SUBMIT A REQUEST REZONE THE PROPERTY.
The petitioner can get assistance and direction from the planning department, who will have the required papers. The petitioner must make sure to supply all information requested by the planning department, which may be a lot. Things like surveys, maps, traffic studies, and mailing labels might be included. Also keep in mind that processing the request will cost money. The amount? That is location-dependent. Place a wager of at least a few hundred bucks, if not a few thousand.
5. EXAMINING APPLICATIONS AND STAFF ANALYSIS
The request will be examined by the planning staff, who will then create an analysis and recommendation for the regional planning commission and legislative body. The petitioner must participate as much as possible in this analysis. They ought to be able to provide assistance. They are required to cheerfully fulfill any requests from the planning team. During the site visit, the petitioner should arrange to meet them there and go over the details of the project. They must explain to the planning team how they've previously spoken to the neighbors and modified their ideas as a result. If at all possible, the petitioner should take the planning staff's arguments and concerns into consideration when revising the plans.
6. MEETING OF THE PLANNING COMMISSION
The request is sent to the planning commission (or another comparable organization) for consideration after the planning staff has finished its investigation and is ready to make a recommendation to the local governing body. There will be advertising for this open meeting. The petitioner must be present to present their case and respond to any queries or worries. Although the petitioner doesn't absolutely require a favorable recommendation to proceed, it is hoped that the planning commission will make one.
7. MEETING OF A LEGISLATIVE BODY
The case then goes to the local legislative body for a vote and public hearing. There will be a chance for the petitioner to speak and present their case. They are in the clear if the vote is in their favor. If not, at least a year may pass before the petitioner can attempt again.
What is the duration of the procedure? It depends on the legal system, the regulations, and the complexity of the request. It will take at least a few months for anything straightforward, while it is not unheard of for it to take up to a year.
If your request is approved, congrats! You can now start to develop your property according to the new zoning regulations. If your request is denied, don’t give up – you can always resubmit your proposal with some changes or try again next time.
What are the Benefits of Rezoning Your Property?
There are many benefits that come with rezoning your property. First and foremost, it allows you to develop your property in a way that wasn’t previously possible. This can lead to a significant increase in its value. Additionally, rezoning can also make your property more attractive to potential buyers or renters, which can help you to make a profit more quickly.
In some cases, rezoning your property can also lead to tax breaks or other financial incentives from the government. This is often done in order to encourage development in certain areas or promote certain types of growth.
What are the Risks of Rezoning Your Property?
Of course, there are also some risks that come with rezoning your property. The most obvious risk is that your request could be denied by the city or county. If this happens, you won’t be able to develop your property in the way that you had planned and you may not see any increase in its value.
Another risk to consider is the possibility of community backlash. If the community doesn’t support your rezoning request, they may try to block it from happening or make it difficult for you to move forward with your plans. This could lead to delays or even cause you to lose money in the long run.
Finally, it’s important to remember that rezoning your property is a lengthy and complicated process. There are a lot of steps involved, and it can take months or even years to get approved. This is something you need to be prepared for before you start the process.
Despite the risks, rezoning your property can be a great way to make money and increase its value. If you do your research and put together a strong proposal, you have a good chance of getting your request approved. So, don’t be afraid to take the leap and see what rezoning can do for you!
Do you own a property that you think could be worth more if it was rezoned? Are you considering going through the rezoning process? We’d love to hear from you in the comments below!
If you found this article helpful, be sure to share it with your friends or family who might be interested in rezoning their property. And, if you have any questions, our team of experts Jacobs and Co. Real Estate (www.jacobsandco.com ) is here to help. Contact us today to learn more about how we can assist you with the rezoning process. We’d be happy to answer any of your questions and help you get started on making money from your property!
The process of rezoning your property can be complicated, but it can also be very rewarding. If you do your research and put together a strong proposal, you have a good chance of getting your request approved. So, don’t be afraid to take the leap and see what rezoning can do for you!
JACOBS & CO. REAL ESTATE, LLC.
12923 Fitzwater Dr. Nokesville, VA 20155
(703) 594-3800 | jacobsandco.com