Land is a great investment. Raw land doesn’t certainly create income except if it’s farmland, and it creates some cash flow then. You should think about you will need to pay taxes on it each and every year. If you consider as an asset for the future, for your own use as retirement place or to sell it in case you need money.
Along with raw land, you’ll be able to typically do whatever you want with the land as long as it meets the requirements of the soil type and zoning laws. This is often a huge benefit for landowners who want to sell to a wide variety of buyers. Raw land usually can be used for recreational, residential, farming, pastures for livestock, or whatever else you can think of. It is a blank canvas for the owner to do whatever they want with.
Raw land was ignored for many years, but in recently, people are viewing it as a viable alternative to save money for retirement. As we’ve covered in previous articles, land is a great choice for saving for retirement. Raw land has become a popular choice for your retirement savings with thanks to the low-maintenance, 1031 exchanges, and the gradual increase in value over time.
Raw land’s rise to popularity in the land market is well-deserved. Buying raw land is an excellent option for anyone who want a low-maintenance way to save for retirement or a blank slate to do whatever they want with it. To make sure you get the best property for sale at the best price for you, consult several online internet real estate portals.
Before commencing the buying process, it’s best to determine the way in which you want to use the raw land and when you want to buy it. A little planning will help you choose the parcel you got that right for your stated purpose. For example, land purchased for hunting would require enough wildlife in the area.