Many people believe that land is a good investment. This might be true, but it’s always worth researching the plot thoroughly. There are many things to take into account, such as elevation, local facilities, building permissions, and use. The more you are allowed to do with the land, the more valuable it can become. So what, exactly, could you do with a plot of land to earn you even more money?
Building
Buildings are usually worth a lot more complete than the cost to build them. There are two types of permissions granted for plots of land. The first is residential use. This means you can build houses or apartment blocks. More commonly allowed is industrial use. You can erect warehouses, hangars, workshops, or even offices in this case. Typical construction materials like steel make it quick and easy to develop a site this way.
If you have permission to build for commercial use, then consider the layout of any buildings. Sometimes it’s easier to buy easy-to-erect options like those from
Armstrong Steel. This will reduce your overall build costs if you choose an option that requires less labor to complete. First time builders or those self-building often select DIY options like this so they can manage the entire project themselves with little to no help.
Once you have your buildings in place, and you have connected the essential services as required, it’s time to get another valuation. Ideally, you will have selected
properties that are highly desirable in the area. This will make it easier to sell them or rent them out quickly. Again, there may be some usage restrictions, but chances are you’ve made a wise investment here.
Grow
If your land is adequately fertile and healthy, you might be keen to start growing. There are rarely any restrictions to usage here, but you might not want to upset any local competitors. Farming can be challenging without the right tools and equipment. Some of this can be very expensive. Working by hand, however, is often too labor-intensive and time-consuming. Of course, you might be keen to just grow a little produce for personal use.
Preparing your land can take a lot of time too. Sometimes it can take years for the crops to grow as required. If you’re
growing an orchard or vines, this too can take some time to mature. That doesn’t mean your property is losing value during this time, though. You can develop smaller patches for garden vegetables like tomatoes, potatoes, carrots, and lettuce. These can even be grown in small containers.
Many keen gardeners use a greenhouse to maximise their output. These can be heated to extend the growing period through to winter periods too. There are usually no restrictions when it comes to developing buildings like this, or wooden buildings. Of course, if you are producing tonnes of produce or crops, you will need a substantial barn or steel framed agricultural building to store it.
Animals
Livestock is another way to earn money from your land. If your plot is substantial enough, you might choose to keep, train, or breed horses.
Goats and cows can be reared for milk and meat. Chickens require less space, but these too can become good earners. Perhaps you fancy setting up a charity to look after abandoned animals rather than seeking a profit-making venture?
Animals need accommodation. Again, most places will not have a restriction on this time of building. The restrictions or permissions required in this case are for the animals themselves. Check with your local authority. Livestock may also require grazing and space to roam. You should fence off paddocks and fields for this purpose that can keep the animals in a particular space. This, again, could become quite expensive. Once they are in place, however, they might add value to your plot should you wish to sell.
If you are away from other residential dwellings, you might be allowed to set up an animal business on your land. This could include boarding kennels, grooming parlour, or even a veterinary practice. Developing your site for your own business can be hugely rewarding, beyond the added monetary value of the plot.
There are many options for land. Whether your plot is big or small, there is the potential to turn it into so much more. Perhaps you’re interested in developing a solar or wind farm for profit? Or perhaps you simply want to build your dream home there. What will you do with your land to increase its value?
