FACT #1: Is the land part of a larger development plan?
Many times, local governments and developers will sell off plots of raw land to raise capital for infrastructure improvements. If you see your potential purchase is located in the middle of an established subdivision or sits next to an upcoming commercial business center or strip mall, the value is assured. Not only that, but you’re likely to own a piece of property that can be resold at a higher price per square foot than if it were just sitting on your portfolio as-is. Check with city hall or chamber of commerce – they may know what’s coming down the pike.
Demand
If you want to invest in Colorado Springs land, it is important to do a thorough analysis of the demand and the return on investment.
Besides the population growth, there are other factors influencing the price of land. One factor which you have to consider is commuting time. If people have to travel long distances over 40 minutes each way to get from home to work, it will cost them money for gasoline or bus fees. This will cause them to seek out closer homes, so they can easily reach their place of employment without wasting money on transportation costs. Living near your place of work saves not only money but also provides you with free time that could be better spent with family.
Location
If you want to set up shop, then the size of the building is important. Most people like to buy a property that can be converted into what they need at some point in time.
A former member of the National Association of Realtors and real estate investor offers advice on how to find a vacant land investment that will allow you to profit…
Q: “What are the important factors I should check before making an offer?”
A: The most critical factor, other than price, is location. Make sure it’s zoned correctly for your business use and adjoin a road with lots of traffic or visibility. For example, if you want to rent out boats for fishing, you could have them stored on-site spring through fall but rent them out during the summer months.
Returns
If you are searching for the best opportunity to invest in real estate, there are several variables you’ll need to consider. The land is an underutilized investment vehicle by purchasing while prices for vacant land are in less demand than ready rental housing. As a consequence, investors can expect high returns on their investments with much less maintenance and overall day-to-day management required. The land itself offers the investor some unique opportunities that expanding companies enjoy as well as those who wish to remain more conservative.
Primarily, investing in the land comes down to the following five factors: location, location, location! If you purchase property that has no value or purpose or is located somewhere undesirable where no one wants to live it will not provide value and won’t earn you any passive income.
Expenses
We are the top home buyers in Colorado Springs!
We can help you buy land in Colorado Springs. Call us at (719) 286-0053 or fill out the form on your screen now. We are the top home buyers in Colorado Springs!
We can help you sell a lot of land in Colorado Springs. Call us at (719) 286-0053 or fill out the form on your screen now. We are the top home buyers in Colorado Springs!
We have been buying homes and properties for years, as well as commercial buildings and other property throughout the country. If you need to sell a lot of property quickly, turn to professionals at our company who buy land every day.