If you currently own a vacant acreage or are interested in buying one, you may be wondering how to maximize its value. Location, natural resources, access and nearby attractions can greatly help you determine the best use of a vacant property. Ultimately, the decision will be determined by what you want to accomplish (income, hobby, recreation, etc.). Below is how you can utilize a vacant parcel depending upon your goals.
Income: Vacant property allows incredible potential for income. Residential units, a tiny house community, event center, farming, timber, RV campground and a hunting retreat are excellent sources of income. If your property is in a high traffic or frequently visited area; billboards or a parking lot can provide a money-making opportunity. Renting land for events, farming and grazing as well as utilizing natural resources such as wind or minerals are additional income options.
Recreation: If you’re more interested in maximizing the natural amenities of your property for outdoor adventure; RVs, boating, trails, hunting, fishing, hiking and equestrian are just a few of the many ways to utilize vacant ground for recreational purposes. In addition, you can transform your property into a wildlife habitat by adding timber, brush, food sources and water sources.
Sustainable: With a vacant parcel the ability to go off-grid is often greater. A community garden, wind farm, solar energy and mineral rights offer the opportunity to make your property sustainable. If you’ve always wanted to live off the land, find a vacant property with these amenities.
The nationwide team of experts at United Country Real Estate are positioned to help you find the vacant property perfect for your lifestyle. Visit UnitedCountry.com to learn how you can take advantage of more than 95 years of unmatched industry expertise.
Sources: https://landscouts.com/blog/business-ideas-for-raw-land
https://www.landcentury.com/articles-news/business-ideas-vacant-land
