When you are deciding what to do with a building, you need to make sure that you are following all local zoning rules and laws. These regulations tell you what can be done with a building or property. Ignoring these regulations can leave you with a property that cannot be developed in the way that you planned or legal headaches that will not go away easily. That is why you should consider consulting a Long Island, NY real estate closing lawyer when you make any big transactions.
Can Zoning Rules Determine How My Property is Used?
Yes, different properties can be “zoned” for different purposes. If zoning rules do not permit a property to be used in a certain way, you are going to run into trouble if you decide to use your newly acquired real estate for that purpose. Some examples of zoning types include:
Some of these zoning types can have sub-categories of their own. For example, it is not uncommon for buildings in commercial zones to be specifically zoned for office buildings, retail outlets, or restaurants. Knowing what your commercial real estate property is zoned for is the key to making the best possible use of it.
Can Zoning Rules Affect Property Values?
Zoning laws and regulations can certainly affect how valuable a property is. If you are allowed to build a high-traffic retail space in a great location, that is obviously going to enhance the value of a property. A change in zoning regulations can also affect the value of an individual property. Change a piece of land that was formerly cleared for residential use into a property that can be used for commercial purposes and you have probably increased its value.
Are There Exceptions to Zoning Laws?
Zoning regulations tend to stay pretty consistent, but as we already mentioned it is possible for zoning for a particular property to change. There are also ways to maintain current zoning rules while introducing some flexibility into the development process.
There are special use permits, which can allow an area originally zoned for something else to also serve your intended purposes. A good example of this is when a business like a salon or daycare is approved to be headquartered in someone’s home, even though it’s not a commercial property.
There are also variances that can affect things like lot sizes and other requirements of the structure itself. If you can show that adhering to specific rules creates a hardship of some sort, you may be able to go against some zoning regulations that govern the size and shape of buildings on such a property.
Contact Our Legal Team
If you are getting ready to make some major real estate deals, don’t sign anything without a lawyer on your side. Contact David A. Gallo & Associates LLP and talk to our team. We can help you figure out the best way to ensure that the commercial real estate you buy is well-suited to the types of projects you plan to take on.