Land remains one of the most highly sought-after commodities of modern society. Prospective landowners place high premiums on specific features of a property. The more a piece of land adheres to certain elements such as curb appeal or appearance, the more valuable it becomes. You can utilize a few of the seven listed amenities to enhance the value of land that you own.
Increase the Value of Your Land: Run utilities to the land.
When buyers picture their dream property, many of them imagine it will have wiring for electricity and running water. By providing utilities on your land, you can increase its value by 10 to 20 percent. This building consultant discusses how this applies even if you are dealing with an undeveloped property. The only caveat is that running utilities to your land can be quite expensive. It may be challenging to establish the necessary infrastructure on rural properties. You often need special permits, a well, or electrical lines. Alternatively, if your land lies within a suburb, you usually need to connect utilities to existing hookups.
Increase the Value of Your Land: Build on It.
The more work you can save them, the more prospective landowners will value your property. Buildings will almost always increase the land’s value over an empty lot. Even land earmarked for pasture or hunting can become more appealing if you build a log cabin, a barn, or even a fence. You can even save significant cash if you have any knowledge about building structures. For a DIY project, you could build the building yourself with simple supplies like concrete and a metal building kit. Metal building kits are highly customizable– allowing you to build a variety of different structures. Barndominiums are currently on trend, allowing you to great additional living space or even a potential rental property.
A metal building on an otherwise vacant lot tends to increase how much land value appreciates. The elusive quality that increases property value, in this case, is permanence. According to this ready-mixed concrete supplier, as a landowner, you will want to find the best concrete out of hundreds of proven mixes for your project that ensures longevity and pleasing performance. If a job proves too elaborate for your degree of expertise, you can always enlist the assistance of a professional contractor. If the land is already developed, additional structures can further add to the property’s value. Buyers covet two-car garages, and more buyers are demanding in-law apartments than in the past. Such structures can add $20,000 or more to the price of a home. Swimming pools can contribute tremendous value. They must fit the style and size of the yard. Finally, fences have universal appeal.
Increase the Value of Your Land: Boost its Appearance.
There is a direct link between the appearance of a property and its desirability. By ensuring the land is free of debris and clutter, you capture a large sector of buyers who otherwise might discount it. You can keep your costs low if you do much of the work yourself. Clearing junk includes not only trash removal. Pruning trees and bushes, pulling weeds, and clearing unsightly brush and containers all contribute to a land’s attractiveness for buyers. They perceive the property as a low-maintenance investment that will require little hard work from them.
Increase the Value of Your Land: Plant Trees on It.
Adding trees to an empty property can immediately transform its aesthetic appeal. Ornamental bushes, decorative plants, and geographically appropriate vegetation (i.e. cacti) can impart beauty to raw land. The character of a tree that has the most influence on property value is its maturity. Commercial landscaping specialists recommend that aged hardwoods or conifers combined with polished landscaping can increase a home’s value by almost 20 percent. Trees are not only attractive to many potential landowners, but they can provide shade and a sense of privacy.
Increase the Value of Your Land: Establish Good Drainage.
Adequate drainage is especially important if your lot is flat. Drainage is vital to prevent erosion, eliminate impediments to plant or crop growth, and decrease breeding grounds for mosquitos. Pest control specialists explain that mosquitos are one of the most dangerous pets due to how they spread disease. Drainage can be particularly problematic on raw land. Farmers and home builders alike want assurance that they will not have to deal with standing water every time it rains. As with everything else, poor drainage also affects property appearance. Also, keep in mind any drainage from adjoining land that may affect your land. Know about any easement drainage considerations. Also, remember that areas that sink can be signs of deeper problems. Where water accumulates and to what extent are important considerations for landowners.
Improve Access to It.
Not many people will look twice at a property that they cannot conveniently reach. If your piece of land does not have easy access, you can improve this in a couple of ways. The obvious answer is to build a road and pave it if necessary. Sometimes this is not practical. You may be able to enter into an agreement with one of your adjoining neighbors. An easement or other written agreement can allow permanent access to the main road via their driveway, for example.
Care for the Soil.
At first, the ways soil affects the land value may not be apparent. When you consider you want the largest possible pool of interested buyers, then it becomes immediately obvious. According to this source, whether your land will be used for farmland or not, nutrient-rich soils can increase property value by as much as $300 per acre. The appearance of land often reflects the quality of its soil by the health of its lawns, pastures, or groves. This can be a priority for people who want the land for horses or other livestock. If you regularly test soil nutrients, you can maintain optimal levels of nitrogen and phosphorus. If the land is an investment property, add plants and trees to guard against soil erosion. Proper drainage will also help mitigate erosion.
People automatically perceive land as valuable. This quality makes it relatively simple to increase property value. If you can afford the investment, most efforts to increase the appeal of a piece of land will prove rewarding. Some options only call for maintenance and attention to detail without much out-of-pocket expense.
See you at a meeting soon!
The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agent, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.
Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.
To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.
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One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.
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