Land is one of the greatest resources out there for people who can see its true value. There’s a common, and blatantly false, misconception that vacant land isn’t a good investment because nothing’s happening with it at the moment, and it’s just “sitting there doing nothing.” This is, in truth, one of the best reasons to start checking out land listings. Vacant land is incredibly versatile, and it’s not like it’s going anywhere. Investing in location alone can also be a great real estate strategy.
Whether you’re looking into buying land for personal use, or you see it as a way to generate more revenue, there are plenty of great reasons to buy a tract of land. Here are just five that should have you thinking differently if you haven’t considered its true value yet.
1. They aren’t making any more of it.
Additional land isn’t being created by any natural or unnatural means, and it’s generally extremely difficult to destroy. This makes it inherently valuable to buyers since it’s a rare resource. Whether you want your own land for recreation purposes, like catching catfish or turkey hunting, or you’re looking to buy up a tract to turn into timberland or other investments, you’ll hold the cards when it comes to negotiations down the line.
Maybe someone else is looking to buy your land to expand an HWY system, or maybe they intend to turn it into a commercial land space for new utilities. Good land is becoming a rare find, and you’ll have plenty of leverage.
2. It only appreciates in value.
Similar to the first point, land only goes up in value over time. Even when it comes to selling property like a house or commercial building, its value is often largely determined by the land it sits on. The scarcity of land makes it near-impossible for its value to depreciate, and the more the population increases in an area, the higher demand there will be for land. This is doubly true if you own land that holding something inherently valuable, like timberland or a water supply.
3. Land provides limitless options.
What makes the land so great at generating income is the fact that you can do practically anything you want with it. You could buy some Mississippi land for sale, for example, and turn it into a place for residential or commercial buildings. You would, essentially, be renting out your real estate to generate a steady income simply from owning the land.
You can find land all across the United States through a reputable broker like AcreBin. In addition to Mississippi land, you can find plots available in NC, TX, TN, KY, and AZ. Of course, you don’t have to limit land purchases to the United States. You could even go as far north as the city of Toronto to find land to suit your purposes. Even if there’s something your land doesn’t already have, you can always have it brought to you. Water services Toronto, for example, could serve as a water supply for your land if it lacks its own.
4. You’ll have extremely limited competition.
Because most real estate investors are constantly competing for commercial buildings, residential complexes, and houses, there will be few other investors interested in buying vacant land for you to contend with. Owners of vacant who aren’t doing anything with it are typically eager to sell, as well. The land market is excellent for buyers, and partnering with real estate professionals can ensure you find the best land for your purpose.
5. Management is simple, and expenses are low.
Compared to owning commercial or residential property, there’s little that goes into maintaining the land. So long as it’s suitable for construction, you’re basically good to go. You’ll also be able to avoid expenses for utilities and property maintenance with vacant land. All you’ll really owe is some meager property taxes before you convert the land into your personal haven or your next big moneymaker.