What are the advantages of Entitlement?
Entitlement is the best way to force appreciation for your property without building on it. A property’s value will often double after entitlement is completed.
In order to subdivide land or build a project, most cities around the country will require a formal application process that must be completed. This can be a tedious, time consuming, and expensive process, depending on the city. Once a project is approved by the city, it is considered “entitled”. The following items are just a few that are typically required in order to entitle your land:
- Plans must be drawn
- Civil Engineering
- Traffic and environmental studies
- Soil Tests
- Building Elevations