Different Types of Land Investments
Investing on land has become a profitable investment for many. It is an exciting venture and has a lot of opportunities and potential.
Land can be used in some many ways, depending on the owner. It is characterised based on what can be built on it and what the land can be used for. Knowing which way you want to invest on your land gives you a better choice when it comes to buying the land. It also prevents someone from buying a property which is designated for a different purpose and besides that, getting to know how the land was used in the past can be help you know how to use the land once you buy it. The following are the ways you can invest on your land;
As a residential development land
This is a land specifically for building homes. It is one of the profitable use of land, since people always look for places to stay, either temporarily or permanently . It assures consistent income from tenants. When considering buying land for residential purposes, it is important to take note of some factors for example the area should be accessible, it should have proximity to local schools or should also be free from crimes. Such factors make it attractive for people to want to settle there.
Commercial development land
This is the use of land for businesses. You can use the land to build restaurants, shops, warehouses and other infrastructure related commerce. It often does not take a lot of space. Commercial properties is more profitable than residential properties since the tenants will pay more rent. This is because commercial properties are often located in central locations and the properties are more valuable. Therefore when considering to buy land for the purpose of developing commercial properties, you have to ensure it is in a marketable location, usually urbanised areas where there will be need of services.
Most people do not always think of using land for recreational purposes when buying land. However buying land for the purpose of recreation has a lot of benefits. Recreational land can be used as parks, open spaces, playgrounds and even swimming pools. Recreational land has a number of personal as well as financial benefits. It is a long term investment. Recreational land provides income as well as entertainment. You will not only use the land but also will be holding it in the hopes that its value will appreciate.
This is the commonly use of land. Human beings depend on food to live and thus food production will always be a profitable investment. Agriculture ranges from livestock production to crop production. Depending on what you want to focus on, you should consider different aspects of land before buying. Fertility of the land is one of the factors to consider before buying land for agriculture, this is because many crops require fertility. Fruit farming is also one of the best farming to consider apart from other types of crops.