Is buying land a good investment? You might find yourself asking this question when contemplating investing in real estate. Investing and buying land is not a well-understood concept. In fact, there are lots of people who don’t even consider buying it.
You should at least be open and educate yourself about investing in land before crossing it off your list. At least, you can be confident that you made an informed choice and did not let an opportunity pass without even knowing more about it.
We will be giving you 6 reasons on why a land is a good investment. Then, you can make your decision from there.
1. Land is a Finite Resource
No one can make more land – making land a valuable and finite resource. This means that there is only a limited quantity of land available. And the basic law of economics says that if there is less supply and high demand, the value goes up.
2. It gives you peace of mind
Once you have proper documentation, owning land gives you peace of mind. Unlike other properties and valuables, you don’t have to worry about it being stolen or destroyed. You don’t have to worry about maintenance and renovation. There’s basically nothing to do after your purchase.
3. It is a Tangible Resource
Since it is tangible, it cannot vanish or disappear. Land is unlike shares or stocks or money. One day you may have them, and the next day you’ve lost them. Money and currency change its value, it can even lose it.
However, with land, ownership will be the same and it will always be something of value. Work with a land for sale officer to help you find the right property.
4. It is Inexpensive to Own
Since owning land doesn’t involve a lot of maintenance, it is inexpensive to own. Unlike owning a room in a condominium or having an apartment, you won’t have to pay for electricity or the monthly internet connection if you own land. There’s no need to change the roofing or do some repainting as well.
Yes, you can get property insurance if you wish so. Property taxes are also inexpensive. Your land is just there, costing you close to nothing as its value increases overtime.
5. It is good to have long-term
Land is a long-term investment. If you classify yourself as a “high risk, high returns” kind of investor, then this might not be the investment for you. Investing in land is not for someone who is looking for an immediate income. Land investing is for the patient and smart investor looking for a long-term but worthy return of investment.
6. It increases in value
Considering that land is a finite resource, it definitely increases its value over time. Let’s say you purchased a land worth $1,000. If it is located in a path of growth, future fecelopers will surely be considering it for future developments. When this time comes, you can sell your land for up to 10 times its original value.
Learn more about land investing and see if you are a good fit. If you think that you are, look for an officer in Hillstowe and start investing now!