Not a lot of people are talking about buying vacant land right now. When you hear someone talk about real estate, it’s all about flipping houses, buying new construction, finding an affordable vacation home or buying a bigger house because they outgrew their current home. Vacant land doesn’t get a lot of buzz, but it’s something to look at. I bet it’s on your mind, or you wouldn’t be reading this!
Here are seven good reasons (in my opinion) to buy vacant residential land.
Reason #1. Vacant land is widely and easily accessible
For the most part, it’s a whole lot easier to purchase vacant land than land with a residential home or commercial building on it. Owners of vacant land are more inclined to sell as they are not living on the land. Sometimes land was purchased with “good intentions” of building a home there and something got in the way. Currently there are very few people who understand the benefits of investing in vacant land, so you’ll find it easier to buy a parcel of land without competing with other buyers.
Reason #2. If you are looking for a great asset in real estate, it’s a cheap option.
Buying vacant land is in itself an inexpensive option. Unlike other real estate purchases, vacant land has a relatively low entry price. This is simply because there are no mortgage or utility payments to make, and property taxes are fairly cheap, depending on the size of the parcel. A lot of people selling vacant land (including yours truly) will provide seller financing. After a down payment and document fee, you are left with a low monthly payment until you pay the balance of the purchase price. And that monthly payment just may be very close to the amount of a car note.
Reason #3. Save money on renovations and inspections.
With vacant land, you won’t have expenses for repairs. It’s just dirt! You’ll simply need to find out if the what can be done on the land (camping, parking an RV, etc.) or built on the land (a site built home, manufactured or modular home). That just requires a quick phone call to the Planning & Zoning department of the county the land is located in.
Reason #4. Buying vacant land means less stress.
Everyone wants less stress in their life, right? Vacant land is one of the safest bets in real estate investing. Being a long-term and tangible asset without structures, vacant land doesn’t wear out and cannot be stolen or get damaged. Vacant land is simply a “hands-off” investment. You don’t need to deal with careless tenants, plumbing or electrical issues, leaking roofs, asbestos, mold or termites, etc. Owning vacant land proves less stressful than rental property. If you have a dream to own land, what’s holding you back?
Reason #5. Vacant land offers maximum flexibility
An unimproved piece of land gives you an exclusive opportunity to design and build whatever type of home you want (within the zoning or any HOA rules of course). Building from scratch has endless possibilities when it comes to creating your dream home, and the best part – everything is where you want it and brand new!
Reason #6. You don’t have to involve banks or private lenders
Unlike investing in rental property, you will remove banks, mortgage companies, and private lenders out of the equation for investing. The transaction is much faster and the down payment and monthly payment amount can be negotiated. And many owners of vacant land that offer seller financing don’t even charge interest!
Reason #7. Easy to sell
If you buy land and then decide you don’t want it, you can sell it to a real estate investor (like me!) or list it with a real estate agent. If you didn’t build anything on it while you owned it, it’s in the same condition (still just dirt) and depending on where it’s located and how long you owned it, it’s likely worth a little more!
Just my thoughts. Let me know if you are interested in buying or selling vacant land, and if you think I left out any good reasons to buy land in the comments below…
Can you hear it? The wind rustling leaves as it winds through the trees. The scent of wildflowers drifting by as you sit rocking on the porch. You look around. Your view of nature is uninterrupted. The air is so clear and clean. You spot a doe and her fawn frolicking in the distance. All is well with the world…then you wake up.
If you find yourself having this type of dream night after night, it may be time to find some vacant land in the country to make the dream a reality. Starting from scratch allows you to have it the way you want it from the very beginning. Pick the land with a view you will never tire of. Put a house on it that is your ideal design. This could be your chance to be off the grid and out of the hectic pace of city life.
Think about this – having a special place to go to be with the family can create traditions that help everyone to stay connected. Owning a private piece of property to share vacations, holidays, and reunions mean there is a guaranteed time and place to be together. A place of your own that is always available, even at a moment’s notice – no reservation needed!
And if you enjoy hunting and fishing, finding that perfect piece of land is a must. I heard about a guy that bought an abandoned old apple orchard next to a national forest. He put a mobile home next to the orchard, and the trophy game literally came right to him! On the other side of his property was a state maintained trout stream. Need I say more?
And if you are just ready to be off the grid, away from the hustle and bustle of city life, the high taxes, the high cost of living, it may just be time to start looking for remote land where you can build and operate off the grid. The peace and quiet will relax you. Your monthly overhead will decrease dramatically. You could even start a garden and grow your own food. Lots of people do this – more than you think!
Make a list of what you want, including the location, number of acres and budget. Then start looking for that land! Maybe we are selling exactly the land you are looking for – or can lead you to someone who does! Check out our inventory or call us at 901-878-9295 to see what we have available right now.
It’s time…to build your dream.
And it all starts with buying some land.
Time to stop dreaming and make it real. What are you waiting for?