Land is considered a valuable asset, particularly if it is situated in a high-growth area. Land investment is a sensible and profitable method to diversify and enhance your portfolio. However, due to rising development costs, raw land can seem difficult to sell. Prospective buyers, place a high value on specific aspects of a property like appearance, utility, and so forth, the more valuable it becomes. The more a piece of land adheres to particular criteria the easier it will be to sell and for the right price.
There are several things you can do to help increase value of your investment. Try these 12 incredibly simple methods to grow potential profits of your land.
Boost Curb Appeal
Rural properties, unlike suburban homes, aren’t designed to be neatly maintained or carefully landscaped. However, your property should at least look cared for. The appearance of real estate and its desirability are inevitably linked. By ensuring that the site is free of debris and clutter, you can attract a huge number of buyers who would otherwise pass it up. If you handle a lot of the work yourself, you can keep your costs down. Removing dead or diseased trees, clearing out any trash, and addressing issues with ponds and water features are just a few examples of basic aesthetic upgrades.
Many individuals are unlikely to choose a property that is difficult to access. In reality, even the most gorgeous property can be unappealing to potential buyers if there are access concerns. If your land doesn’t have simple access, there are a few things you may do to improve it. Although not all access issues can always be resolved, some, such as a lack of road access, can be. You might be able to work out a deal with one of your next-door neighbors related to an easement that could allow you permanent access to the main road via their driveway.
Many purchasers envision their dream property having power and running water, so you can imagine the hesitation to buy land without it. You can raise the value of your land by 10% to 20% by installing utilities such as this.
Establishing the necessary utilities may be difficult. You’ll almost always need specific permissions such as a perc test, a septic tank, and the cost of having power lines run. Although this can be a difficult and expensive task, if the location it right, it will be a great investment.
A vacant property’s aesthetic appeal can be dramatically improved by planting trees. Raw terrain can be made beautiful with ornamental bushes and decorative plants.
Depending on your land, the addition of natural or decorative trees and hedges can provide not just beauty but a sense of privacy as well. On the other hand, clearing out an overgrowth of trees can be just as effective if it enhances the land’s usefulness or reveals a stunning view that would otherwise go unseen.
Create Good Drainage
If your lot is flat, proper drainage is critical. It is essential for preventing erosion, removing barriers to plant or crop growth, and reducing mosquito breeding grounds.
Poor drainage, like everything else, has an impact on the aesthetic of your property. Installing underground drainage lines, planting a bog, creating a water garden or planting water-loving trees are all options for dealing with this problem.
Add Practical Amenities
Depending on your budget, adding certain amenities to your property can improve its attractiveness and value. Installing a pond, for example, appeals to individuals who want to attract wildlife, start a farm, hunt, and fish, or simply like the view.
Similarly, recreational land buyers, those searching for a weekend house, or even those looking to build a more permanent place, needing a temporary place to reside during the construction process, prefer the construction of a rustic cabin or another shelter.
Adding pathways, constructing a campsite, planting garden beds or food plots, constructing hunting stands, adding footbridges over creeks and streams, or constructing a barn, shed, or other outbuildings for storage are all options you can explore.
Add or Improve the Main Gateway
As you are pondering how to increase the value of your land, one addition is very simple, add a gateway. Because the entrance to a property is one of the first things a buyer sees, you want it to make a positive first impression. Trespassers can be kept out of your property with the use of gates. You should build the gate slightly off the main road so that you can pull in and open the gate without having to stop on the road shoulder.
Fencing is another addition that helps add value to land. It needs to be set up following the land’s intended purpose. Fencing can achieve multiple goals at once, and different styles of fencing are intended for different purposes. It can be used to delineate the land’s boundary, contain cattle, and keep unwanted animals out.
A cross fence can be used to keep cattle off of farmland. A yard fence can help in safeguarding precious landscaping while adding interest and beauty to the space. Decorative trees, flowers, and vegetable gardens can all be protected via a high deer fence.
Whatever style or type of fencing you utilize must be well-maintained, and the cost and time element should be considered when you make this decision.
Care for the Soil
The way soil increases land value, may not be obvious at first. However, it becomes self-evident when you realize that you want the greatest potential pool of prospective buyers. The health of a land’s lawns, groves, or meadows frequently reflects the condition of its soil. For folks who want to use the area for horses or other livestock, this may be a top priority. This attribute can make your property highly valuable.
You can increase your raw land value by erecting structures on it. Houses, storage barns, and other structures attract buyers. You just need to make sure that whatever structure you add, must boost buyer attractiveness. You should look into what the majority of customers are seeking and include the structures that will bring the greatest value to them.
Security, regardless of where the land is located, is of the utmost importance for prospective buyers. You can put up no-trespassing signs and fences to begin with. However, advanced security measures such as strong locks and doors, as well as an alarm system, may be required at times.
You can also add Wi-Fi-enabled cameras or an alarm system to alert the police in the event of a break-in. Furthermore, modern security cameras are simple to connect to your Smartphone. This allows you to keep an eye on your property even while you’re not physically there.
Easy Access to Water
Water is necessary because, well, its water and land without running water will be difficult to sell. Easy access to water makes growing and maintaining a lawn, garden, or crops much easier. A green-looking landscape is pleasant and desirable. If you need to redirect waterways, you will need to communicate with the local government first.
What increases land value?
Whether you’re planning on selling or just looking to protect your investment, keep this question at the forefront of your mind and it will help guide you to make the best upgrades and improvements to your investment.