Real estate is a valuable part of any investment portfolio. While most people tend to associate real estate investments with rental properties or commercial office space, buying land is a simple and easy way to get started.
Owning land has many benefits. It’s a simple and stable investment. It can be a passive investment or a vehicle to significant annual revenue returns. If you’re thinking about investing in a Central Florida property, here are some of the benefits:
- Land Value Increases Over Time
Some people steer away from vacant land because it doesn’t produce income, but just simply owning land can result in significant long-term returns. Because there is a limited amount of land in high-growth areas like Central Florida, it’s an appreciating asset, which means it should continue to increase in value over time. Land value could increase an average of 3% to 7% annually depending on the location, which means you can realize a nice profit when it comes time to sell. - Owning Land Doesn’t Require Much Work
The good news is land doesn’t require much work other than some minimal upkeep. Your property will increase in value even if you just let it sit undeveloped. If you own raw land, you can set it and forget it. As a result, land can be an easy and passive investment. You can simply earn a profit with a buy and hold strategy. - You Can Transform it Into Additional Revenue Streams
While undeveloped land is a strong investment, developing it can be a path to major revenue streams. You can use your land to jump start business concepts that create additional sources of income. If your entrepreneurial spirit has always dreamed of starting your own business, there are an endless number of ways to generate revenue from vacant land. - You Can Leverage it for Personal Use
If you’re not interested in establishing a business, you can also leverage your land for your own personal benefit while it appreciates. Use your land for hunting, camping, storage, or binguild the home of your dreams. You can do whatever you’d like as long as it doesn’t violate any zoning restrictions that apply to your property. - Central Florida is a High Growth Area
With easy access to Orlando, amusement parks, and Florida’s beautiful beaches, it’s no surprise that property in Central Florida is in high demand. As more and more people move to Florida every year, your property value will increase at a faster rate than much of the rest of the country.
Palmetto Realty Can Help You Find the Right Central Florida Property
If you’re ready to start investing in land, choose Palmetto Realty to help you find the perfect property. We’ll help you establish a budget, search for land in up-and-coming areas, evaluate properties, and negotiate a deal. As local land experts, we’re highly skilled when it comes to land transactions, and we can help you find a property that will help you meet your financial goals. Give us a call today to start your land search.