At some point, there’s a good chance you’ve been told to invest in something. When many think of investing, they might think of homes, condos, or stocks, but these are far from your only options. There’s much more that you can choose to invest in, such as land. Land can be even better to invest in than most other things. Anyone looking to buy property in Michigan is especially lucky because great hunting and recreational land for sale are easy to come by.
Learn more about the benefits of investing in land.
There’s Only So Much Land
Unlike something like apartments and stocks, the land that’s currently here is all there’s ever going to be. New property might be up for sale when owners decide to sell, but there’s only ever going to be so much of it. With limited supplies, investing in land is a great choice. If you’re planning on selling or renting out your land to others, they’ll understand how valuable it is. We Spoke with Noman Asghar with Fan Jackets who told us how easy it was to lease land to farmers in need of more land. Since land is limited farmers and other land workers are willing to pay top dollar to buy or lease the right plot in the right location. If you get the property initially for a good price, you can make a decent amount with your land should you decide to do something with it.
Land is Less Competitive Than Other Real Estate
Anyone who has any familiarity with investing knows that land isn’t always recommended as often as other investments. Many people making investments go to homes and apartments, which can be an incredibly stressful thing to be involved with. We spoke with Pratibha Vuppuluri the Chief Blogger at She Started It who told us why she feels land is a great investment. “With vacant land, regardless if you leave it as it is, the value increases over time. It is also easily dispensable, which means, you can easily sell it at a higher price anytime”. When you get into investing in land, this is something you won’t have to deal with. By investing in land, you can get many of the benefits of owning property, without the stress that comes with other types of real estate.
Land is a More Affordable Option
If you’ve bought a home in the past, you know just how expensive it can be. Even if you’re buying it as an investment and not your primary residence, it’s a huge financial risk. You’ll have to save up, figure out how you’ll handle loans, and there’s always the chance you won’t make much from it. Purchasing land is much less expensive and less of a risk to invest in. With some smart savings beforehand, you might even be able to buy your land out of pocket, rather than taking out a loan. We were able to reach out and speak with Becky Beach, the owner of MomBeach.com, who has tons of experience in purchasing and investing in land. “The reason I prefer to invest in land over property is that there are no buildings to maintain. That eats away at your profit margin if you have to constantly fix things that tenants break or replace roofs. When the land increases in value, then I will sell it and use the profit to buy more land. I keep doing this over and over.”
You Can Do a Lot With Land
We spoke with Allison Spence, a marketing manager at Harvest Returns who spoke about all of the benefits to investing in land. “In a time of financial uncertainty, owning a piece of income-producing farm, timber, or ranch land can make a valuable diversifying tool. These investments provide tangible yields derived from naturally produced products and have outpaced other asset classes for decades.” There are so many opportunities and different ways to use your land to make a profit or some extra income. Other investments don’t give you much of an opportunity to change them much. However, land has many possibilities for future use. Depending on the land you have, you can do virtually anything with it. This is something you can take your time with until you’re ready, as well, unlike with a house. Owning vacant land doesn’t come with the risk that leaving a home unattended for years would, so you don’t have to feel like you need to rush. Over time, you can use the land how you’d like. This might be for recreational use, such as dirt biking or hunting, as well as for agricultural use. At some point, you might even decide to use land to build a home.