Owning acres of land is one of the most versatile investments you could add to your portfolio. Whether you want to build your dream home, start a farm with livestock, or develop properties like condo units or residential houses, land parcels provide owners dozens of opportunities for development and long-term growth.
However, buying acreage isn’t as simple as finding an attractive vacant lot and calling a realtor. Choosing the perfect land parcel requires a lot of time, consideration, and research to ensure you find the perfect piece of land for your needs. Be sure you know the basic steps in finding the ideal acreage for sale to capitalize on your investment.
Standard Steps When Searching for Land Acreage
Figure Out Your Primary Needs and Motivations
First, you won’t find the “right” land acreage if you can’t define why you’re entering the land market. Please take some time to determine your goals and what features are non-negotiable on your ideal land plot. For instance, are you interested in building residential property, or are you focused on using your land for cultivation and farmland?
Next, consider whether the available area’s location, size, and zoning align with your strategy. Remember to check out whether your land parcel has access to resources like utilities, water, and transportation, and how important these features are for your project. As you develop a list of “must-haves,” you’ll have an easier time spotting opportunities and dealbreakers as you narrow your search for acreage.
Finding Available Land for Sale
After you know what you’re looking for, it’s time to start searching for available plots in the territory you’re most interested in. Since everyone is online nowadays, the first place to search for land sellers is through search engines and e-listing websites. Many websites have filters to tailor your search for a parcel, ranch, orchard, vineyard, homestead, etc — in short, anything you want in your specific areas. You can also specify different states by searching phrases like “acreage in Illinois,” “acreage in Texas,” or “acreage in Florida.”
Throughout the searching phase, evaluate different properties against the checklist you established before. We recommend working with a land professional real estate agent or a land broker with experience in your state for more personalized guidance.
Conduct a Due Diligence Screening
Upon identifying the acreage best fit for your situation, it’s important to conduct due diligence before making an offer. Research applicable property records and zoning regulations to better understand your potential land plots. You’ll also need to get a professional land survey to ensure that there are no unforeseen issues on your land’s terrain that could affect your investment decision.
If possible, visit the property in person to get a feel for the land and surrounding area. Also, consider speaking with neighbors in adjoining homes for more info on the site.
Finance Your Land Purchase
You will need to choose a financing plan that works for your situation. Although paying for your land outright with a cash offer is most convenient, investors often don’t have the liquid money on-hand to make this large purchase. Instead, many people apply for a land loan to help them with financing over months or years. Land loans work like mortgages, except people who take them out pay for acreage rather than a property. Land loans often have higher interest fees and shorter repayment schedules, and local banks, credit unions, and Farm Credits are more likely to offer these services. For those interested in buying land in states known for agriculture (e.g., acreage in Georgia or acreage in California), Farm Credits may be another possible way to finance your farmland.
Whatever your financing decision, be sure you know where you’ll get the cash to pay it off in time and work with a broker or financial institution with high accreditations.
Find the Perfect Land Plot for Your Project
Buying acreage can be a frustrating process at times, but it’s often one of the most rewarding and valuable investments. The more care you take when evaluating your needs and reviewing different opportunities, the better odds you’ll make a fantastic decision when buying your first land plot. With the proper care throughout the buying process, investing in property can be a tremendous decision with long-term value potential.
