Buying raw
land can be an exciting opportunity, whether you’re planning to build, invest,
or live off the grid. However, it comes with unique challenges. Here are five
key points to consider before making a purchase:
1. Pro:
Affordability and Investment Potential
Raw land is
often more affordable than developed properties, and its value can appreciate
over time. Whether you hold onto it for future resale or develop it, land can
be a solid investment.
2. Con: Lack
of Infrastructure
Most raw
land lacks essential utilities like water, electricity, and sewage. Installing
these can be costly, so research infrastructure options before buying.
3. Pro:
Freedom to Develop
Owning raw
land gives you the freedom to design and build exactly what you want, whether
it’s a home, a farm, or a business. Just make sure to check zoning laws first.
4. Con:
Zoning and Permit Challenges
Local
regulations may restrict what you can do with the land. Always verify zoning
laws, environmental restrictions, and permit requirements before purchasing.
5. Pro: Low
Carrying Costs
Unlike
developed properties, raw land generally has lower property taxes and
maintenance costs, making it a more affordable long-term asset.
Before
buying raw land, weigh these pros and cons carefully. Do your research, plan
for hidden costs, and ensure the land aligns with your goals.