Expanding your assets by owning real estate is a strategy we’ve all heard before, but what about investing in a piece of land? It’s not uncommon to hear warnings from our fellows that investing in land might not be worthwhile or a smart decision because owning land is not immediately associated with earning income. But what if that wasn’t actually the case? Here’s three reasons to consider investing in land and how it could truly be one of your best assets.
We’ve already discovered all available land and we aren’t going to be finding anything new. This is a big reason why buying land is an immediate investment! It’s a limited resource and this makes it a valuable asset. Albertan land is a hot commodity in the sense that it is impeccable for use as farmland and raising livestock. If you choose a parcel of land that’s productive and yields prosperous results on a yearly basis, you’ve got a gold mine on your hands. Choosing to farm it yourself is one option, but if tending to the fields isn’t your cup to tea, there are plenty of eager farmers that would gladly rent land from you to expand their own businesses. Not only will you turn over a profit, but you’ll be helping local farmers.
Owning real estate comes with a lot of responsibilities, including dealing with tenants, property care and who doesn’t love calling a plumber at 2am for an emergency with your rental unit? While real estate can be an obviously lucrative investment for those willing to put in the time, you might want to bypass the headaches of being a landlord to tenants and instead be a landlord to a literal piece of land. For those looking for a truly hands-off investment, owning land is the way to go. It doesn’t need to be looked after and it won’t deteriorate. What you decide to do from there is entirely up to you as the landowner. The opportunity for development is always a tangible possibility, it just depends how you want to employ it!
The Need is There
No matter how you choose to use your investment, there will always be a demand for land. This can look like a demand for farmland and space for large food production ventures. Agriculture is an industry that shows no signs of slowing in development and inserting yourself into this booming industry could count as one of your wisest decisions. But if farming doesn’t entice you, you can also develop your land for building or even split it up and resell to several investors.
Albertans will always have a need for land and whether you choose to redevelop yours to further growing communities or you choose to plant your investment to grow into next season, owning a piece of land is a truly unique asset. It offers so many different opportunities for growth and even if you don’t decide to do something with your acres right away, you still have a valuable investment that you can leverage however you please. If becoming a landowner is on your bucket list and you’re ready to tick it off, don’t hesitate to give us at Hansen Land Co a call. We’d love to talk to you about how you can invest in land, and your future, today.