There is no doubt that the nation’s housing market has tendencies to hit some low points, but the market for land properties is a different story. In many states across the United States, there are ample properties for sale, be it ranch land, hunting land, or vacant land for sale for potential residential properties. Recently, there has been a rush to purchase land for sale from recreational land to the mountainous woodlands. Many people invest in land properties while prices are so low and affordable, with plans to create a retirement home. |
In some ways, buying land and buying a second home are similar. They both have the potential to make money. A second house can make money through rental income. Land can make money through leases for farming, hunting, fishing, ranching, etc. Also, when buying a second home and buying land keep in mind that the most important component when looking for land for sale is location, location, location.
Because of the affordable acreage for sale, more people are finding vacant land for sale. It is said that remote backlands are now becoming popular since riverfront properties are being taken. But the land for sale has often times gone through the typical story; a picture perfect piece of land that stays just that-something to look at- but nothing more. When looking at vacant land for sale, it is important to ask the question: will a house be built? If so, take into consideration how electrical power and water can get to the property.
Also, if land properties are being bought as investments, remember that it might be tougher to sell if people are looking for houses, not land for sale. The US has 1.5 billion acres of rural land, which is estimated to be about 65% of the country. The prices of the land for sale vary widely, with rural land for sale costing about $250 an acre, while forest land for sale in Iowa is $3,000 an acre, and $27,000 an acre in Colorado for pieces of riverfront properties.
In some cases, it might make a lot of sense to buy land farther in advance if there is any intention of building on the property. Properties and land for sale tend to go fast, especially the scenic plots that many people are fond of.
When looking at land for sale, it might help to have a local land agent that can survey the land. Often times the property lines are not defined as well, and soils may be too soft to support a building in the spot that is intended to be built on. Also pay attention to the accessibility of the particular piece of land. Some properties have make-shift roads that end up not being legal roads.
In urban areas, properties are often zoned to prevent certain types of buildings. Rural land for sale, however, does not contain any zoning, so a dream property could one day be surrounded by shopping centers or mobile homes. Any local land agent will also be able to look up zoning permits and other caveats for the property and other land for sale around it.
Prices of land for sale often don’t move in the same flow as housing prices. Home prices generally follow the trend of inflation rates. But for land properties, price appreciation typically ties in more closely with the potential of activities such as farming. In general, land prices do not fall as drastically as housing prices, since a housing market can be overbuilt, but land can’t. On the other hand, land prices can be greatly affected by recreational demand. Land has become such a profitable investment recently, that the higher demand is increasing the prices of land for sale.
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