The National Buyers Agent Association noticed an increasing trend in the purchase of land lately. Learn some tips that can help buyers make informed decisions and find good land to invest in.
Evergreen, Colorado – The National Buyers Agent Association recently released 5 tips in finding good land for investment. The association put together a list of important things to look into to help potential buyers plan and make informed decisions before the purchase.
The staff noticed an increasing interest in the purchase of land. The increase in requests started in the last quarter of 2020 and still ongoing. See the full report here: https://buyeragentsearch.com/tips-choosing-land-investment
Beth, one of the association’s top local buyers agents out of Charleston, West Virginia, shared the same observation, “So many buyers are looking for land these days! My brother thought I didn’t have many clients because of COVID, but he’s surprised to learn that I got way more clients compared to the number I had in 2019!” Beth also mentioned that the state’s issue in microcell near the mountains had just been fixed which may have contributed to the increasing interest in buyers looking to buy in the area. Also, the median price for land in West Virginia is currently at $119,000 which is among the lowest in all over 50 US states.
Kathleen Chiras, owner/CEO of Skyfor shared her input as to why it is risky to buy land, “Vacant land gets much higher taxes compared with a land with a residential unit already on it. So, if you buy raw land, be prepared for higher taxes and carefully look into the costs of infrastructure development. For example, a well can easily cost $30,000, septic systems are expensive, and a hook up to local utilities like electricity or internet can be exceedingly high. These items need a careful assessment before buying land. Also, there are much stricter lending requirements for raw land, as the lender does not have physical buildings to repossess if the buyer defaults.”
To maximize a buyer’s buying potential, the association suggests choosing land that has access to breathtaking views and outdoor activities. For example, buy land where people want to have fun and relax. Land purchased near a major economic center also will likely have a greater resale value and ease of selling. Some investors also look for income opportunities from vacant or raw land, and turning it into recreational land that does not require much attention and management: Visit the link above for more information.
Homebuyer guidance is provided by Skyfor’s National Buyer Agents Association. A list of agent contacts can be found for all 50 states at this link: https://buyeragentsearch.com/associations-and-real-estate-agents/. This free list of agents is available 7 days/week and live staff is available to discuss specific questions by calling their office at 800-383-7188. The association and its national website have 100% five-star reviews on both Google and the Better Business Bureau, where it is an accredited business.
Skyfor also manages the non-profit association for buyers seeking to buy in Colorado. This state group is the Colorado Exclusive Buyer Agents Association. Visit https://HomeBuyersColorado.org to see the many resources offered to buyers hoping to purchase in Colorado. There are also many home buying or selling tips found on its website, and instant access to a list of buyer agents on the inquiry page.