There are all sorts of different reasons that you might want to buy land, either as a private person or as part of a business enterprise. Some classic examples might be that you want to build a church, build a private home, invest in the value of the land itself, develop a business (like a golf course), or even just create a public space (if you’re a city administrator, for instance.)
But, with each type of plan, you’re going to want to pay attention to the special circumstances around your goal, especially when it comes to zoning regulations and overall finances.
Building a Church
Are you interested in building a church? Though this might not be a common aspiration, it certainly it prevalent enough that even small towns will have many, many churches for many, many different types of people to attend. There are two stipulations that you’ll want to consider right off the bat. First, churches have specific needs when it comes to having rooms for attendance. And second, there are separate tax legislations that need to be understood so the money is handled accordingly.
Building a Private Home
The reason most people are going to buy land is because they plan on building a house. So they find a place out in the countryside, or within the grid of a suburb, and start planning for construction. The biggest consideration here is that you have to understand the value of the land within the district that it’s in. Property values are drastically different depending on what city or county you live in, and even a few blocks difference can make a dramatic change in cost and overall value.
Investing In Land Value
And sometimes you want to buy land as an investment. There’s a statement that flies around occasionally that land is the only thing that will always increase in value, because there’s never any more of it. The earth will not gain land mass, so purchasing land is a fair investment no matter how small of a parcel you get.
Developing a Business
And sometimes you can use the purchase of land as a method for developing a business. People who want to make some sort of golf course, or perhaps an area where you rent boats to go out on a lake, will be taking this route. As far as tips go in this realm, make sure that you have a solid enough business plan that you can pay for the land as soon as possible to return on your investment.
Creating a Public Space
If you’re a city administrator of some sort, you may want to purchase some land for the purpose of creating a certain park area for the citizens of your town. This land might be purchased from the money you get from taxes, and is a great way to improve the overall value of property in an area as well.