While buying land may sound like a boring venture, with a bit of imagination and a combination of outside interests, many real estate investors find ways to create monthly cash flow as the land continues to appreciate over time. Some land is prime for short-term leases to seasonal vendors, such as fireworks sales or pumpkin patches in the fall. Other lands may be leased to hunters seasonally as an income source or used as storage for larger vehicles that pay a monthly fee. These and many other opportunities can be carried out with little to no expense or management on your part.
Real estate investors often don’t appreciate the simplicity of investing in raw or vacant land, which offers the opportunity to diversify investments, thereby increasing your hedge against economic downturns in one market sector. Additionally, undeveloped land is a sector of the real estate market in Alberta that has a proven history of providing a healthy investment return. Compared to most other real estate investment opportunities, adding land to their portfolio offers new investors a low-cost way to begin their wealth-building journey, often without a loan or the expense of interest payments on the investment.
Read on as we explore three things to look for when buying land in Alberta.
Location
Depending on your plans, you may be limited to properties zoned for your intended purpose; however, the long-term outlook for property values in the location is imperative for investors to consider when buying land in Alberta. No matter what improvements may eventually occur on the ground, the one thing you cannot do is change the property’s location. For this reason, you should consider working with a local professional investor whose goal is to find the perfect piece of land to best suit your needs and your budget. Professional investors like those at Leger home buyers are an intricate part of the day-to-day workings of the real estate market in Alberta.
Legalities
You must follow a checklist to avoid problems with the property’s boundaries or buildability, environmental considerations, access, utilities, use restrictions, and zoning conflicts, to name a few. However, because the source of concerns doesn’t end there, expert property investors and their teams follow a carefully devised plan of due diligence when buying land in Alberta. High-level investors like those at Leger home buyers keep their fingers on the pulse of local, state, and federal guidelines with a keen eye for good value and wise investments. In addition, at Leger home buyers, we help keep our investors abreast of impending zoning issues, plans for growth, and ever-changing market trends that can give you the upper hand in building a healthy real estate investment portfolio.
Expert Advice
No matter what level of investing you’re at, from beginner to real estate mogul, why not talk to one of the professional investors at Leger home buyers and find out about how working with our full-service team of the most highly sought after pros from every walk of the real estate industry can benefit your real estate investment portfolio. While there may not be the common concerns of repairs when you purchase land, there are still expensive pitfalls that can derail investors’ plans. Experts like the professional investors at Leger home buyers know what to look for and what to avoid to make investing in Alberta land easy. At Leger home buyers, we aim to help save investors like your time and money and avoid hassles when buying land in Alberta. Let a pro from Leger home buyers help you explore the investment opportunities in Alberta. Don’t forget to ask about our current inventory of the best investment land available in Alberta. Contact Leger home buyers at 403-870-9887.