When it comes to investment ideas, many people forsake the idea of buying a piece of land. Instead, they consider real-estate property, perhaps with an eye to becoming a landlord. Stocks, shares, and bitcoin are other investment options that are popular with many.
However, if you have the money to spend, and if you’re looking for an investment opportunity, we think buying a piece of vacant land is something worth considering.
Why? Well, here are some very good reasons why you should.
#1: You Are Unlikely to Lose Money
Okay, so we aren’t saying there won’t be any future expenses – you might want to pay for the services of a gardener or a landscaper occasionally – but unlike a bricks and mortar property, you won’t have to deal with mold, leaking roofs, broken toilets, and any of those other maintenance repairs that can cause depreciation. And because the land will just sit there until you decide to do something with it, you won’t have to worry about spending any more money until you are ready to do so.
#2: You Can Make a Passive Income
As we will discuss in a moment, you can actively make an income from the land you own. However, if you have a full-time job and you are looking to earn some money on the side, then the piece of land you own could rake in the cash. You might want to rent it out to people in the local community, for example, and use it for wedding celebrations, farmers’ markets, school sports days, car boot sales, and other community events. With the advice of vertical consultants, you could also rent your land out to those telecommunications companies who need to put up more cell towers, or you could lease it those power companies who specialize in wind turbines or solar panels. Your options are many, especially if the land you buy is in a much sought-after area.
#3: You Could Start Your Own Business
If you have ever dreamed about starting out your own business, then a piece of land will afford you all kinds of opportunities. You could start your own farming business, for example, and then sell the crops and dairy products you produce to your local community. Or how about opening up your own campground? Or creating a drive-in theater? There are loads of business ideas here for anybody with their own piece of vacant land, so have a read, and consider any that is in line with your personal passions. You need never suffer the 9 to 5 grind again!
#4: You Can Do What You Want With It
Are you sick and tired of real-estate developers bulldozing over every piece of greenery in your locale? When you buy a piece of land, you can protect it from these concrete behemoths, and use if for conservation purposes. Are you looking to get off the grid? You could buy a piece of land, build your own property on it, and then live a sustainable lifestyle. Are you looking to leave a legacy? The piece of land you own could be passed down to your children, and they will then have the freedom to do what they want with it. When you own a piece of land, your options are plentiful, be it for money-making, conservation, or sustainable reasons. In short, the choice is yours.