Buying a piece of vacant land
Ever thought about buying land as an investment? A
favorite saying in the real estate industry is, "Location, Location,
Location," known as the 3 L's of real estate. The location of real estate
will dictate it's value more than any one factor.
I've mentioned on more than one occasion, that God isn't
making any more land here on earth. There is a finite supply of land that we
can build on, and the population is growing exponentially. This is a very good
thing for the land investor but is it the right investment for a novice
investor? Here is a list of advantages and disadvantages to consider when
buying land:
Advantages:
1) Supply & demand will always put upward price
pressure on land.
2) The cost of land is relatively more affordable when
there are no improvements, (structures built on the property), on the land.
3) Due to the relatively lower cost of land, expenditures
like Property taxes, and all around maintenance are less.
4) Unlike Rental property, you'll never have to worry
about finding tenants, have to evict anyone, or worry about city regulations
that could restrict your income.
5) Choices. You can buy land in varying sizes, from
several thousand square feet to acres. You may not have enough money to buy or
build your dream home today, but you may be able to afford and secure the land
you'd like it to be built on in the future.
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Hello,
ReplyDeleteWhile going through your posting, I found some of the useful tips related to Real Estate Property which will be definitely helpful for the people. The examples of the houses you have provided in your posting are very nice. Can you give some more idea about the property buying strategies?
Have a great day.
Regal
Hello,
ReplyDeleteYou have done a great job by sharing such type of informative idea with everyone. Your posting contains valuable points which will be useful for everyone. It is well said that - Owning a property is a keystone of wealth…both financial affluence and emotional security but all should follow the necessary steps and discuss with the consultant properly. Can you suggest some useful tips that should be taken care while choosing a property?
Hope to read more of your blog in future…!
Z1Property