Monday Market Update: Is Empty Land A Pitfall or Windfall?
Rural land is cheap for a reason… but can present an opportunity.
“Buy land, they're not making it anymore.” (Mark Twain)
No truer words may have ever been spoken. You have heard us talk about homes, and homes with land, but one area we have not touched on at large is rural land. While we generally write about topics for education and information, this topic is such a broad one that we are going to call it inspiration! Based on an article on Realtor.com® titled ‘I Own 155 Acres of California Desert—What You Need To Know About Buying Up Rural Land,’ we wanted to list a few ideas of what rural land can be used for.
We call this inspiration and not information because any one of these ideas would take a tremendous amount of analysis and research to come to fruition. In addition, like any investment real estate or otherwise, there are risks of market changes and plus somethings highly applicable for this topic – the impact of climate changes and weather patterns (if farming or ranching especially).
Our hope here is to share something new to you about a commodity that will always be needed and never be replicated land. Did you know about these 6 potential things you can do with empty land?
#1: Build a dream home.
#2: Retire to the ranch life.
#3: Sell it back at a future date for a profit.
#4: Rent the property out to Hollywood (Los Angeles movie scouts are often looking for land!).
#5: Market flat land to battery farm companies looking to install large-scale storage facilities for electricals energy. Note that certain proximity to transmission lines or step-down transformers is key.
#6: Adopt the ranching or farming life.
Additional ideas suggested by other resources include: creating an adventure attraction (zip lining, dirt biking area, shooting ranges, paintball arenas, etc.), designing an event space, or using a scenic space as a campground or spiritual retreat.
Note that the biggest consideration (although there are many!) is the zoning classifications that apply to the parcel of land you are interested in. Zoning will dictate not only the structure types that can be built, but uses and activities as well.
We encourage anyone interested in land ownership to perform their utmost due diligence with the most knowledgeable and reputable resources. Large opportunities often come with large risks, and building your knowledge base is key to deciding if the potential rewards of the investment are worth your time, energy and resources.
Have a great week,
Bobbi
Resources Used:
‘I Own 155 Acres of California Desert—What You Need To Know About Buying Up Rural Land’;
15 Business Opportunities for Vacant Land of All Types;
Zoning: What It Is, How It Works, and Classification Examples
Bobbi Decker
DRE#00607999
Broker Associate, Bobbi Decker & Associates
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
NAR Instructor….“Designations Create Distinctions”
CIPS, SRS, ABR, CRS, SRES, GRI, CLHMS, REI, AHWD, RSPS, MSLG
Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/
Bobbi's Blog
