Tips On How To Buy Land Cheaply

Cheap is a relative term. And, keep in mind that risk is associated with any investment-including raw land. Remember, too, that location counts when buying land. So choose your area wisely. A good starting point is to let your intentions be known around your circle of friends, family, and colleagues. Another useful source of information can be the classified ads of local newspapers in the area in which you are interested and online free classifieds sites. Now is a good time to be searching for inexpensive piece of lands for sale. Builders and banks hold land which they would like to unload; this is also true of Building and Loan Societies, Credit Unions and Farmer’s Co-operatives. So look for their periodicals and local ads and for auctions. Also, many farmers are vexed with paying ever increasing school taxes on land which yields less profit each year! You can check in farmer weekly’s newspaper ads or just drive up if in the area and inquire if they are motivated to sell a section cheaply.Auctions can be a time- saver but can be more expensive than the aforementioned means. Somehow someone always has “inside” information on the property and the price that is appropriate. Also, the price keeps being raised at auction depending on the desirability of the property. But let’s suppose you’ve chosen the ideal parcel. Under any circumstances a battle will be joined with the Town Board; so prepare to have the means to hold the land as undeveloped for some time. If you are an “outsider”, be ready to wait longer. Anticipate that some of the property will be unusable as some of the acreage will have to set aside for recreational or greenbelt/environmental interests. And some land may lie within the so-called 100 year flood plain regardless of how elevated it may be. Finally, as this is the Town’s or County’s chance to improve the area on your dime, you will probably have to fork- over money for or, in fact make, improvements. These may include for example a culvert, adding landscaping, sidewalks, sewers and curbing or road widening.Your project will be made simpler if you have immediate use for the land you buy, e.g. crop planting or expansion of a corporate facility(ies) you own which are profitable. If not, be prepared to inventory the land for future use until the economy improves. Consider leasing it to an entity which can’t afford a chunk of cash. One thing is for certain about land-they’re not making it anymore. The success of your search will be enhanced if you use all resources at your disposal-including online ads- and if you can buy the land cheaply.