Types of Land
Knowing the many different types of land available is essential before you buy or invest in one. Many times we’ve seen situations wherein an individual would buy a parcel of land just because it’s cheap. Later on, he or she regrets buying because the land cannot be used according to his or her preferences or at all.
However, it is great to know that no matter the land type you invest in, you can be pretty sure that it’s still a wise investment in one way or another. For instance, some people would invest in land without having intentions of using it. They would simply buy to sell at a later time when its price has already increased.
The Major Types of Land
Depending on where you’re getting information from, you will see that there are plenty of land types identified differently by varying sources. Some would have incredibly long lists that are sometimes difficult to understand.
To help simplify matters, allow us to identify the major types of land. These are residential, commercial, recreational, transport, and agricultural. See some examples of these land types below.
Other Land Types You Should Know About
Now, where do the other long lists of land types come from? The simple answer to that is how these major land types can branch out to several more specific types.
For example, commercial land can be in a highly urbanized area with plenty of office buildings, restaurants, and places of business. On the other hand, there are some rural areas that have patches of commercial land used as factories, warehouses, and so on. These are sometimes called industrial land.
Agricultural land can also be many different kinds of land. For instance, rural lands can be those that are used as farmland, a place where livestock is raised, forests, and so much more. There are also families building homes in agricultural areas.
What Type of Land Should I Invest In?
As earlier mentioned, no matter the type of land you invest in, you’re still making a great move since land is always a good kind of investment. It would be best for you to determine first why you’re making an investment. What type of investor are you? Are you looking for quick and easy money? Or would you be willing to stay patient to wait for the right time to resell?
When it comes to residential land, a 2020 article by the Business Insider states how the median home value in the United States has dropped greatly especially in major cities. What used to be $280,000 has decreased to $247,084. This seems like bad news if you plan to resell a residential property now. However, if you wait a little more, then you can still see the value of your property grow in the next few years.
If you check our Acre of Land Cost article here on Land Soar, we have shown the actual prices of land in the United States through the years. Although we focused mainly on rural land, all types of land are basically the same when it comes to pricing trends. There will be dips here and there but the price will still multiply over the years. So you simply need to know when is the best time to resell.
Of course, the best time to buy is anytime. We would always say that land is something that is no longer being manufactured. It’s something that you can’t expect factories to make. So despite the growing demand, there’s a fixed amount of land that will be available on this planet forever. If you have the opportunity to invest in different types of land now, then you should definitely dive in.
Affordable Land for Sale in the United States
It is understandable that not everybody can afford such expensive parcels of land. But a tight budget shouldn’t stop you from having the opportunity to invest in the many types of land available in the country.
If you are looking for affordable land for sale in the United States, then we are here to help you. Land Soar specializes in buying and selling rural land across the country. Since we work hard to acquire large parcels of rural land, we are getting them at very low wholesale costs. The savings we’re enjoying are then passed on to our clients.