There are plenty of advantages to buying land. In this article, we will take a look at some of them.
Buyer Benefit 1: It’s Cheaper
Land is infinitely cheaper to buy than, say, a landed property, so if you haven’t got enough saved up to have your dream home built according to the design, scale and specifications you wanted, buying just the land would do for now. If you aren’t in any hurry, or if you have the time and can afford to wait, then this is a sound move.
Buyer Benefit 2: Greater Flexibility
If you want to draw up the design of the house, or want to have one made according to your vision, buying land provides you with the chance to have free rein over the project. It’s like having a blank canvas, says SFGate. Whether you want a residential property or a commercial building in the end, you have all the flexibility and freedom to decide which option to take.
Buyer Benefit 3: Extra Income
If you have some empty land filed with trees, vegetable plots, and more, then you could try selling off the fruits or vegetables you plant or even sell off some of the trees for timber. You could even lease it out too, says Our Every Day Life. A farmer could do work well with your land. That way, it won’t stand empty and useless while you wait until you’re financially ready to begin construction and set your plans in motion.
Buyer Benefit 4: Prime Position
When you buy land, you can decide how or where your house sits on that plot of land. Do you want it to face a certain direction or position it in a way that’s great according to fengshui basics? Go and dowhatever orientation you think would work out for your house.
Buyer Benefit 5: Customize Everything
The difference between buying a ready-made structure and a piece of land is that you get to experiment and custom-make everything from scratch. Whether it’s that curving staircase or the round windows off of the porch, you can spend more time on what every feature would be like.
Buyer Benefit 6: Easy Finds
These days, buying and selling properties, even just land, is easy. Plenty of listing portals help this along, so don’t hesitate to look up DDProperty land for sale listings to give you an idea of what properties and prices you have to work with. With online listings, you could get a decent idea of how much you’ll need to spend on buying land and if it’s a better idea to go with landed properties instead.
Buyer Benefit 7: Your Timeline
The best thing about having land is that you can have the home you want built according to your timetable. You won’t have to rush or push yourself financially to the point that you’ll risk a major portion of your savings, or maybe even all of it. Getting the dream house you’ve always wanted for your whole life is easy when you have the funds to back you up. With land, you can wait until that happens.
Buyer Benefit 8: Low Maintenance Costs
When you’re buying a landed property, there’s a bevy of maintenance work you have to stay on top of if you don’t want the house to fall into disrepair. Otherwise, you could end up with a structure that’s more trouble than its worth, with sagging floorboards, missing windows, and broken doors. If you want tenants other than fat bugs and spiders, you’ll need to spend some money on repairs. With land, you don’t have to do so much. In fact, it can remain in the same condition as you bought it, sans repair and replacement costs necessary.
Buyer Benefit 9: Easy Distribution
If you’re buying land and you end up assigning it over to your heirs, one of the best things about it is that land is easier to divvy up. A home will have to be sold off and the proceeds divided before the money gets into any of your heirs’ hands. However, with land, your lawyer can easily divide it among your heirs, and some of them could sell their portions, while others could keep theirs. It’s a win-win situation, making it easy for home owners to leave properties behind.
Buyer Benefit 10: FewerTaxes
Another benefit to buying just land is that you get lower tax charges. Cost-savings matter a lot. If you’re saving up to have your dream home built, then every bit of money you manage to save can count for a whole lot. With fewer taxes to pay for, you could have your budget much, much sooner rather than later.
Buyer Benefit 11: Long Term Value
Land is a good investment. It’s going to appreciate over time, so it makes sense to invest in it, especially if you find prime real estate land. That’s going to be in your favor someday. Whether you decide to sell it off or build a commercial property—a condominium unit, for instance—you’ll come out on the winning side of it.
Buyer Benefit 12: Quick Sale
Between a landed property and a piece of land, it can be easier to sell of the land, especially if it’s in a prime spot. Developers are going to be in a mad scramble to take it of your hands. If that’s not the case, selling it can still be so much better than selling off a home. With a ready-made structure, people are more careful of what they buy, and have specific requirements on what to look for, such as the number of bedrooms or floors, building materials, and more. There won’t be so much of that when you’re selling off land. It’s either the spot or size works for the buyer or it doesn’t at all.
Buyer Benefit 13: Build Your Own
If you have carpentry training on your own, then a plot of land can be your own personal kingdom. So long as you get the right permits, you can build your own castle with your own hands. This should save you the cost of having to hire someone else to do it for you.