Looking for land

I was looking for land for a specific project and looking for the right set of land is not as trivial as it looks like. Here are some factors that you need to look at -

Size of the land

The size of the land should be inline with the potential future expansion of the project. The questions you need to answer are 1) what are the adjacent technologies or markets that you might enter ?

Resources

1. Water: The questions you need to look for answers are 1) what is the type of bores are present in the land ? 2) how well it had fared over the drought years ?
2. Availability of labor: How much labor is needed for the project ? What type of skill set does the project need ?

Proximity

What are the proximity needs of your project ? How much near to the city does it need to be ? What are the expenses that you might incur (or save) depending on the land being nearer to a city ? Does the land need to be accessed by a road ? How frequently do things need to go back and forth from the land and what size transportation do those things need ?

Quality of soil
Weather
Proximity of supporting industries
Price
Price is the most trickiest. People forget that you should not spend more money on land than you can make out of the project that you are going to put on the land. Do not include the potential increment of real estate prices into the project ROI calculations. Treat the land price and the corresponding spend as an expense.