Depending on where it is located… land is extremely valuable. It varies in price based on the closeness of a city, the amenities it provides or the views that you seek.
Land just like houses can go up and down in value with the supply and demand and the real estate market conditions. Remember the location will determine the cost you pay for the lot. Is it build-able? Is it irrigated? Does it have city water/well, sewer/septic and electric to it? Paved or Dirt roads? Improved or unimproved land?
As building increases and houses pop up, land availability decreases and the value of land in areas where land is scarce is often more valuable than ever! If you are looking to invest in something long term, land may be the best option for you. While you will still be paying taxes on the parcel… it requires a lot less upkeep and maintenance than a home. You are not dealing with the unknown quirks of renters, repair costs, HOA costs or deferred maintenance that you may be subject to when buying a house. Remember, land may not be giving you a positive cash flow every month, unless you are renting it out to someone to park vehicles, grow crops or home animals, but it also presents less liability in most cases verses purchasing a rental or vacation home.
If you are interested in finding out more about owning land, what is available out there. What are the pros and cons to buying land? Give me a call and we can set up a consultation to discuss your options and whether this would be a good investment for you. Click below for local land listings.BLOG COMMENTS POWERED BY DISQUS