>> Thursday, July 5, 2012
Investing on a piece of vacant land has been a popular choice for many because this type of investment is deem to have many advantages. This has been proved to be one of the safest compared to other forms of investment since it is stable. Moreover, compared to stocks, a piece of land is a physical asset, which is unlikely to diminish completely. Here are other reasons why smart people invest on vacant lots:
Building a House. A piece of a vacant lot can have a lot of potentials. For many, they choose to buy a vacant land to build on it a house of their own or a place which they can have rented out for profit. It may be tedious to build a house from scratch but one big advantage of this is that it allows more customization.
Reselling it for a Higher Price. Another popular reason for buyers of vacant land is reselling it once its market value increases. They just have to make sure that the property is not vandalized by securing it with fences and anti climb spikes.
Using it for Agriculture. Investors may also opt to use the land for agriculture and farming. They can plant trees, farm products or even raise livestock which they can sell to supermarkets once these mature. However, not all vacant lots can be used for agriculture. One must first consider the area where the land is located. Moreover, investors looking into this kind of investment might want to take advantage of their property by allowing other organizations to install facilities such as cell towers on their vacant lot for a monthly rent.
Converting it to Parking Lots. Another option for vacant lot investors is to create parking lots on their properties, particularly in urban areas. It is obvious that parking spaces are scarce in the cities, that is why converting a vacant lot into one is a very good decision.