Buying a Diverse Property
The best rule of thumb when buying land is to diversify! One-dimensional properties, which is land that can only be used for one purpose, are a thing of the past. Sure, you may select a rural property for sale that has mature hardwood and pine timber, but what happens when you cut that timber? You’ve made a great one-time profit but now what? It will be years before your timber investment turns a profit on that land again. The solution is a diversified rural property. Not only can you reap the financial rewards of such a land parcel but you’ll also open the door to a ton of fun recreational uses.
Backwoods Land Co has spent years in the land business, developing a keen eye for properties for sale that are diversified and have a ton of opportunities for our land buyers. We value YOU, our clients, above all, and with that in mind, we’ve put together a few helpful hints about how to pick a diversified property and why it’s important to diversify your land.
How to Buy A Diverse Property
Today, most land buyers are well aware of the many benefits of buying a diverse property in order to maximize your investment. Ultimately, the ideal location is one that has diverse uses and isn’t going to cost you an arm and a leg in order to turn a profit (or live on it!). Consider these important factors and you’ll choose wisely!
Purposes for Rural Land
Analyze the land and determine what the land is clearly best suited for. Will it draw in wildlife if you want to hunt? Open areas for grazing? Soil ideal for agriculture? If you’re not sure, schedule a land consultation with the land management experts at Backwoods Land Co. We can examine your land and determine the strengths and potential pitfalls that may come with that particular parcel of land so you can be fully informed.
Water Sources on Rural Properties
One feature that helps diversify property and can be the most important consideration on a rural land tract is water. Thus, it’s crucial to check out the natural water sources on the land first. What is the access to that water for both yourself and animals? Will it provide enough water for an agricultural field or timber growth? Does the water source draw in waterfowl, deer, and other game for hunting? Are you able to fish from the banks or get a boat into it for fishing? Would your water source offer a fun, recreational use safely?
Buying Rural Land for Year-Round Use
One other aspect to think about is the year-round viability of the land you’re considering buying. The best land investment you can make is one that you can access all year long, whether for profit or enjoyment.
Buying Land as an Investment
The importance of diversifying your land comes down to two factors: your finances and your enjoyment. Your reasons for buying the land will likely determine which is most important to you!
In either case, when you investigate a few simple factors, you’ll set yourself up for success.
Zoning When Buying Land
Make sure the zoning and land regulations will allow you to use the land as you so desire. Consider easements, setbacks, and ordinances that may affect your ability to use your land for what you want or your investment potential.
What Utilities are on Rural Land?
One way to ensure you stay within your budget and don’t overspend just to get the property up and running is to check out the available utilities. Are water and electricity already up and ready to go or are they easy to tie into? What other conveniences are must-haves for you and are they there? If not, how much will it cost to get those installed? Knowing these factors beforehand will allow you to be prepared financially for your land purchase.
Hire a Land Planner for Rural Land Purchases
When in doubt, hire a land planner or land management expert such as those at Backwoods Land Co. These experienced land pros will help you analyze what you need to know before buying land, what the cost will be to get the land ready for your purposes, and might also even offer future land diversification planning.
Taking the proper precautions before buying land will help you decide “is the land I’m buying diverse?” You’ll know the strengths, weaknesses, and potential costs that may go hand-in-hand with your parcel of land, and you’ll also be one step ahead in the process of making land profitable. Ready to start your rural land journey? Call Backwoods Land Co today and have the experts by your side for it all!