Owning property has plenty of pros and cons but those that are especially passionate about possessing land can make a substantial amount of profit if they invest correctly. Whether you are interested in entering the market or are a seasoned investor interested in expanding your ventures, Santa Cruz Properties has the owner-financed lots you are looking for.
If you feel like you might not be ready to make such a large investment, then consider the following 4 pros of purchasing a vacant lot.
4 Advantages of Owning a Vacant Lot
1. Less Maintenance
Vacant property is far easier to maintain (both financially and tangibly) than owning residential property, which can require substantial funding early on. Owning an empty plot of land eliminates the need for constant upkeep, fixing utility issues, dealing with renters, and taxes associated with residential property.
While a vacant lot will require minimal maintenance like landscaping (i.e. mowing) and removing debris/garbage, you can avoid paying for major expenses for the most part. All you have to do is sit on the property until its value increase and you decide to sell!
Purchasing developed land can come with some hefty property taxes and additional fees. But a vacant property will afford you lower taxes, and the money saved here, can be used on other investments or property improvements.
If you are interested in developing some sort of business on the land, it might be in your best interest to purchase the land now and then build on it later when you have the means to do so. You don’t want to get priced out of the property later down the road when its value has increased.
3. Freedom of Use
There is plenty of freedom that comes with owning a vacant lot – namely – you get to decide what to do with the property. This can include building your dream home, passing the land onto your children, building multi-family apartments or condos, building a business on the land, or simply holding it as an investment until the right time.
Just keep in mind that whatever you decide to do with your vacant lot, there are zoning restrictions and rules that you must follow.
4. An Investment with Longevity
Investing in land is generally a safe bet, because, unlike owning a building that can be affected by any number of issues like termites, flooding, deterioration, and the likes, a vacant lot can only be affected by a severe natural disaster.
Your empty lot can also significantly appreciate over the years. Hypothetically, you could own a plot of land in an area that becomes a “hot market.” If the surrounding properties become desirable and increase in value, yours will too.
And as the Rio Grande Valley continues to grow, this seems like a very likely scenario.
Let the realty specialists at Santa Cruz Properties help you find the perfect vacant lot to meet your needs.
With owner-financing available, and prime property located all throughout the Hidalgo and Starr County, Santa Cruz Properties has the land of your dreams. Contact us today at (956) 383-0868 and let us help you find the right vacant lot for you.