Land values typically increase over time, which makes purchasing quality land a smart and satisfying investment. However, if you’re not one to simply sit around waiting for your land to appreciate, there are several tried-and-tested methods to help increase the value of your land right away. Some are easy enough to do on your own and can be a great source of personal satisfaction.
Provide better access
Having good access gives you the freedom to enjoy your land. It can also be a plus for any buyer when the property is placed on the market. The good news is, ensuring that that you have deeded access to your property is fairly easy and inexpensive.
You will need to talk to your neighbors to make sure your land is properly served by an ingress and egress easement and the necessary utility easements. You also need to come to an agreement on road maintenance, and ensure that you put all agreements down in a legal document.
Assuming you already have legal access, some additional improvements can help further boost your land’s value. Investing in some serious construction, such as building a concrete or asphalt driveway or a serviceable gravel road can make your property that much more desirable. Building a trench or digging a French drain to prevent any flooding is also a good idea.
Keep in mind that not having ready legal access to your land can diminish its value and cause issues down the line. Properly assess what needs to be done to help to make access as easy as possible.
Provide Utility Lines
Raw land is great, but your property’s value can be worth a whole lot more if a home can be built on the site. Adding utilities to land outside of the city can, however, be a huge logistical concern that requires a bit of planning, time and money.
Running utilities in rural areas can be expensive, but is often worth a great deal more than the cost. Having electricity, for one, is a top logistical concern. Without it, the value of your property will certainly take a dive. Having sewer lines is yet another concern. You will likely need to have a perc test done to determine which type of septic system can be installed on your property.
It can be daunting to deal with perc tests, site plans, drilling wells and getting all the permits and fees, but you’ll find it well worth the investment: Getting utilities installed can easily add 10 to 20 percent to your land’s value.
Add fencing and build structures
Fencing is a capital improvement that is sure to enhance the value of your land. Different types of fencing are used for specific applications: to define the perimeter of your land, corral livestock, or keep unwanted animals out.
Cross fencing can keep livestock from getting into crops or can provide more efficient use of pastures. A high deer fence can protect orchards, vegetable gardens, ornamental trees, and flowers.
Choose your fencing based on maintenance costs and the amount of time you can spend tending to its upkeep.
Also, build appropriate structures such as a home, storage sheds, and barns that are beneficial to current or future land use. Having structures built can
increase the value of your land.
Find the ideal property for sale with Sarah Boyd
Sarah Boyd and Company are experts when it comes to raw land for sale in North Texas. Contact the team today to help you with your search.