If you’re a modern or soon-to-be retiree, you’re looking for Buy cheap land to increase your nest egg and increase future income.Many retirees want to invest in rental properties in an up-and-coming area.
However, this sort of real estate venture begins with property-management capacities, including constant calls from those irritating renters about broken faucets and squeaky door hooks. This is exactly why some retirees are opting to invest in free land instead.
Less affectionately known as land gambling, purchasing vacant land for possible future gain is a high-risk venture. The secret is to buy cheap land in currently undeveloped regions that are expected to see a construction boom shortly.
While picking the right spot can be a tricky project, if you play your cards right, you could finally sell your land to a profitable real estate company or developer for a meaningful return.
Are you thinking about setting your bets on a vacant lot? Here are some U.S. lands where you can purchase dirt-cheap estate – and where your venture might pay off in the long run.
This landlocked southern nation is most famous for Nashville, its centrally located capital. The heart of the countryside music scene, Nashville is the place of the big Ole Opry, the Country Music Hall of Fame and a fabulous stretch of honky-tonks and dance halls.
Memphis, found in southwest Tennessee, is a new hot spot, where tourists flock to view Elvis Presley’s Graceland.
The Great Smoky Mountains in eastern Tennessee, located along the North Carolina border, give a peaceful area to fish, hike and travel in majestic mountain views. Tennessee also presents another significant advantage: no state tax.
Even with such a diversity of attractions,Buy cheap land in Tennessee is comparatively inexpensive. For instance, in Unicoi County, found in the state’s high northeast, the ordinary sales amount for a 251,911 squared foot lot is $59,408.
That’s only $0.37 per square foot. As Tennessee remains to grow, you could potentially benefit from a land property in the Volunteer State.
Arkansas is Known as the Natural State, Arkansas joins the Mississippi River and is well recognized for its abundance of outdoor entertainment opportunities, from fishing, shooting and hiking to mount biking, golfing and boating. The state’s different geography involves mountains, dense forests, lowlands, and countless lakes, streams, and streams.
Arkansas also has a moderate cost of living, a developing economy, and mounting population. The state’s community is on course, to top three million by the end of 2017.
The cheap land in the Natural State can be discovered in Clay County, snuggled in the northeast corner of Arkansas, where the estate is going for just $0.07 per square foot, with the regular sale price of only $43,083 for an 830,617 square foot lot.
It’s no surprise West Virginia is called as the Mountain State. Located entirely in the Appalachian region, the area is almost wholly mountainous.
Harpers Ferry, established in the northeast part of the state where the Shenandoah River joins the Potomac, is a famous tourist destination. Site of the famous pre-Civil War attack by John Brown, the town is encircled by a national historic park, with several of the buildings open to the public as living-history galleries.
West Virginia is also homeward to one of the fastest-growing economies in the country. The state’s gross national product (GDP) rose by 6.84% in 2017, the biggest in the country.
The most significant industry in the Mountain State is still coal mining, which considered for 98% of West Virginia’s increase. Although the state’s market is increasing, you can always find a much affordable state in West Virginia.
In Morgan County, just an hour outside of Harpers Ferry, a square foot of vacant land will require you a mere $0.44. With a standard lot size of 277,623 square feet, that comes out to $29,450.
Often called the Valley of Enchantment, New Mexico possesses an array of beautiful landscapes, from the Chihuahuan Desert to the Sangre de Cristo hills.
The southwestern area’s capital, Santa Fe, is a great tourist stop well known for its upscale spas, magnificent Spanish colonial design, and vibrant cultural view. This thriving city is house to the Georgia O’Keeffe Museum and the open-air Santa Fe Opera.