On of the least discussed real estate investments is land. Just land. Generally land would be a long-term investment and therefore a possible option for retirement savings and investment. The value of land generally would not go up and down as radically with the market conditions, as would residential property. In addition, taxes would be much lower.
- Land is food. On it can be grown crops and livestock.
- Land is a producer of assets. Acreage planted in timber can eventually be harvested.
- Land is an appreciating asset. (If it's not in a flood zone.)
- Land is recreation. If you have a camper or 5th wheel it's a getaway from the city.
- Land is self-sustaining. It does not need constant attention or activity. It just stays there.
- Land can be income producing. It can be rented out. A pasture can be rented to help cover the annual taxes.
- Land is a disaster recovery plan. If something were to happen a five-acre parcel outside the city could be a needed place to reside for a time.
- Land has a potential for future development. Depending on the growth of an area there may be the opportunity to build homes on the parcel either directly or through sub-dividing.
- Land is an inheritance. If/when something was to happen to you the land can be a source of income or benefit for heirs.
As with all ideas a great deal of research, study, and planning are needed to make a great investment. A good price in one area may be totally outrageous in another. Many people do not realize that the term "recreational property" may mean that the land is totally underwater during the winter months.
So, that is my retirement idea for the day. If it sounds intriguing then head to the local library or Amazon and find out more. Do the research before heading to a real estate office. They want to sell you something and will make a profit from the sale. Doing your own research first can prepare you to know your goals, ask the right questions, and then deal with the professional who can help you find just the right piece of property to meet your needs.