Residential and commercial properties aren’t the only useful investments you can make. In fact, investing in a plot of land can be a fantastic idea! It’s a safe investment that doesn’t depreciate. You don’t have to pay bills and mortgage. Even maintenance is easy- all you need to do is get rid of a few weeds from time to time!
The best thing about owning a plot of land is you can use it to do whatever you please. Many people make the most of their land investment by building property upon it. For instance, you might want to have an office built or even create a block of apartments. However, there are many interesting businesses which require little more than a piece of land. Here are some ideas.
Start A Farm
Farming is one of the oldest professions in the world, and many people love the natural lifestyle. You can use your land to raise livestock and grow crops. Many farms make extra money by hosting parties for children or adding a restaurant. You can live off the land you own and profit from it in many ways.
One option is to invest in some land and build a farm upon it. But setting up barns and preparing the land for harvesting crops can take some extra investment and a lot of work. You can often find farms for sale. Sites such as Colliers can help you find farm investment opportunities.
A farm is one of the most interesting businesses you can run. You can produce your own food and become one with nature. It’s perfect for those who want to get far away from the urban lifestyle but still put their entrepreneurial spirit to work.
Build A Car Park
If you have a plot of land close to urban areas, building a car park is an excellent idea. Think about it- how many times have you tried to find somewhere cheap to park in busy areas? It can be a nightmare for drivers.
A simple car park takes minimal investment. As long as you create parking spaces and a way for people to pay, it virtually runs itself. You’ll also need to get government permissions. Make sure you put up signs and market your car park to start generating profits. You should also add security measures.
With a piece of land in the right area, you can make a lot of money. People will pay well for hourly parking near sports stadiums, tourist locations, and shopping areas. Over time, you might want to build it into a parking complex.
Rent Out Your Land
Just like with property investments, you can profit from a plot of land just by renting it out. Fields, in particular, can be useful for many kinds of functions.
People might want to rent out your land for events. Large open spaces are needed to set up festivals and outdoor sporting events. Some people might even want to get married on your land.
You could also develop your plot of land into a campsite. People might pay just to set up camp on the land. But by adding a few amenities and perhaps even some entertainment, you can make a lot more money.