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Is land a worthwhile investment?
Thinking of buying land near a desirable area. Just a small lot that's buildable for a home. Not sure if we'll ever be able to build, but thinking about buying the land for potential resale down the road. Is land a worthwhile investment?
Asked By Jason | New Buffalo, MI | 695 views | Investing | Created 2 years ago
Answer(2)
Chris Yochum
Dickson Realty
It can be if you speculate that this area is going to increase in value before you are willing to sell it. If growth is headed in the direction of the land you are interested in it can be lucrative, though lots of risk and growth not happening. Otherwise from my experience I dont see much appreciation in residential land. Land that is income producing/leasable land that can be a great investment.
- 2 years ago
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Katherina Ramirez
Weichert Realtors Daher Companies
Yes, land is a great investment if you are thinking of buying it in an area that will increase in value before you sell it. If there is growth heading that way then there could be a lot of money involved in not then it wont be worth your money or time. Also you need to make sure the land is even buildable because if not then not worth it once again.
- 2 years ago
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