Buying yourself a nice chunk of mother earth (read: land) is one of the greatest investments you can ever make. Forget investing in ready-made property where your ambitions are halted by someone else’s preconceived ideas of what sells; buy land where your options are endless.
It doesn’t matter whether you fancy a slice of Southern California or Northern Maine, land is a solid investment for the simple fact no one is making any more of it.
Of course, there is a lot to consider on the land-buying front. If it was simple and free from bureaucracy it wouldn’t be real. Luckily for you, we’ve pulled together a brief overview to help make any potential endeavours into this area of investment as smooth as possible.
Know your ranch from your recreational
Before you make any phone calls to any real estate agents, you need to know the lay of the land, which means knowing what sort of land you are interested in acquiring, and that means knowing what types of land are out there.
Farmland… is one growing in popularity as a result of sustainability growing in popularity, however, it isn’t the right investment for everyone. You either need a turnkey property to make money from, a tenant to run the show or an understanding of agriculture.
Ranch… The major difference between a ranch and farmland is the addition of livestock, which means the investment cons are relatively similar as above.
Acreage… If you were to close your eyes and imagine what buying land may look like, this is probably it; vacant land that has not yet been developed. In this case, location and size can be everything. Just be aware that developing from scratch can be lengthy and costly.
Commercial… this is where zoning areas come into play because commercial developments require commercially zoned areas. The plus side of this is efficiency. You will be able to build fast. However, the cost of land can be extremely high. Don’t let this put you off too much, though, as the rewards can be incredible.
Recreational… Hunting, fishing, stalking, camping and anything else that can be classified as recreational. The reason for this is they are generally zoned as such, which makes building a permanent residence somewhat tricky. But it could be great as a seasonal endeavour.
Know where to buy land from
Having decided what sort of land you are after, your next major hurdle is knowing where to make your purchase from, in which there are a few options to consider:
Buy at auction: Whether you go to a private auction or a state held one, these are a great way to get your hands on a) a once in a lifetime plot or b) a bargain. The other benefit of buying at auction is the speed of handover.
From a real estate agent: These are people that are in the know and thus will be able to help you navigate the purchase of land a much easier process. Using California again, if you were to buy here, your best bet would be to visit SportsAfieldTrophyProperties.com and seek out their expertise. They would be able to guide you on offers, where else to look and making sure all paperwork is done correctly.
Purchase land online: This has become a hugely popular way of purchasing land because of the cost-effectiveness involved. It is just a lot cheaper than traditional paths. Of course, you will need to ensure you have done all your market research and know the formalities involved when it comes to the paperwork and legal requirements.