Investing is a dangerous business. As many people will tell you, any investment can increase or decrease in value. The problem is that you don’t know which one of these it will do!
If you’re considering investing in vacant land it is worth taking a look at this first:
Check The Ground
Before you commit to buy then you need to know what is going on under the land. A good residential property surveyor will take a look at the land for you.
They can advise if there are any utilities going under the ground, and easements of access points and define the exact boundaries of the land.
This is important as you may struggle to do anything with land that others are allowed to access.
In addition, without the survey you may start digging and strike a mains sewer line; that is not a problem you want to have to deal with; or pay for!
But, providing you do the necessary checks there are some good reasons to invest in vacant land:
Future Worth
If the land can be built on or you gain permission for it to be built on then it is likely to go up in value.
The question simply becomes one of how long do you need to hold onto it for.
Even if you don’t get permission to build this doesn’t mean that the land will go down in value. The chances are it will increase and someone will want it in the future.
In the meantime you don’t need to do anything with it!
Alternative Income
Vacant land doesn’t need to be used for building. You may have a local horse club or other organization which is desperate to rent a piece of vacant land.
It is even possible a local farmer or smallholder will want to rent the land.
You are then getting money for literally doing nothing!
It’s generally Easy To Buy
Providing you are going in with little expectation s for the land you’ll find that there is very little, if any, competition.
Vacant land is not generally in high demand, putting you in the driving seat!
Build Your Own Home Mortgage Free
It may take several years but you can move slowly through the process of planning and self building a home without ever needing finance.
All you need is a goal and patience; allowing you to work with the system. Of course you’ll need to consider sewerage and electricity if your vacant land is rural.
There IS No More!
Land is a finite commodity and much of it is being built on. Investing in it now will give you the certainty of your own patch or a piece that everyone wants when it is right in the path of their build.
As most vacant land parcels can be purchased for just a few thousand dollars you can easily wait until the right offer comes along; making your investment exceptionally worthwhile.
