The Benefits of Buying A Property With Land
When you first think about buying a home, it’s not often that you consider looking for a property with some type of land attached. It is becoming more common that house and land packages are available.
Depending on the population density and the real estate type, there are properties with land in both urban and rural areas. And, when we talk about land, it is typically much bigger than your average back garden.
So if you are currently considering buying a new property, it could be worth switching your focus to a combination and the benefit of a property with land.
Having more land than you do building can be a tax advantage in some places. You’ll need to check the property and land tax laws in your chosen location, but in many cases, you will pay fewer taxes on a small home with a large piece of land than a large home on a regular plot.
If you opt for a smaller home, you’ll also benefit from reduced utilities and repairs and maintenance.
The long-term advantages and money-saving can be put to good use later with expansion or building on the land.
If you opt for a smaller property, but with plenty of land, you can expand the size of your home whenever you like. It’s not just the home you can extend; you can build new buildings, large greenhouses, a gym, and more if you have the right permissions.
Often the true value of the land is the potential it has for the owner – and just how much can be done with it.
If you have spent any amount of time in the city, you will already know that there is little privacy. Sunbathing in the garden, getting a new car, family gatherings, and more is all under the spotlight. Even in areas where people mostly keep to themselves, your business is their business.
Having a smaller home, or any size home surrounded by some amount of land, offers a large amount of privacy for the owners. For example, if you decide to have a large family gathering, you won’t need to let your neighbors know, there will be plenty of parking, and you can laugh long into the night without worrying you are disturbing your neighbors.
Your land is yours to do what you want with. So that means if you want to plant a lot of vegetables and sell them, rent the fields out for horses, or even have a recreational business, you can use the land to make that happen.
It doesn’t have to be a farm, but it can bring a regular income, but chicken eggs, fruits, and vegetables.
You might decide to skip all of the building and use the land to make an extra income; you might instead choose to create a beautiful natural landscape that is yours to enjoy every day from your deck.
If you are looking to buy a property that is more like a second home, then check out this post: 10 Expert Tips For Buying Property Out Of State.