ADVANTAGES OF BUYING A VACANT LAND.
A land is the solid part of the earth surface. No doubt, we live on land and not in the water as the earth is filled with more water than earth.
Whether you are looking for a plot(s) of land to build your dream house on, for farming or for investment purposes, there are lots of advantages that come with the purchase of vacant land that so many people are not aware of. For first home buyers struggling to enter the property market and investors looking to diversify their property portfolio, vacant land is worth going for.
There are so many brilliant reasons for the purchase of vacant land. They include:
If you are struggling to buy a property in major cities like Abuja, Lagos, or Port Harcourt where property prices are the highest, buying a vacant land offers you an easier and more affordable way into the market. Vacant land is much cheaper than a land that has already been built on even if what has been built on it is of low quality. One tactic is to buy a land today and build on it when you have a much larger budget to ensure you won’t be priced out of the property market in the future.
One major beauty of buying vacant land is that you can do whatever pleases you with it if it is within the limitations of the council’s zoning and building codes. You can leave it, build a home on it or do anything that suits you with it. There is always the option to sell it or build a commercial property on it other than having to conform with what has built on it when you buy land with property on it.
It’s no news that aa piece of land is one thing that appreciates and never depreciates.one thing to consider is that it would remain in the same condition you bought it in and asides weather and erosion, it appreciates—increases to a reasonable price than the amount you bought it over time and growth of the area where the land is situated. We must have heard of stories where a land is purchased at the rate of #50,000 and later sold for millions of naira.
- Low maintainability.
Another advantage of getting a vacant land is that it has a low maintenance cost compared to keeping a property in good condition. You don’t need to worry about repair work, renovations or finding a plumber. Besides having to keep the land in reasonable state, there’s very little to get worked up over. Vacant land also requires less of your time and stress.
- You can buy a land without seeing it.
Considering those that do interstate transaction, there is no need to check the land before purchasing it. Unlike a property where you’ll have to see it yourself and check if it meets all the standard stated in the contract of purchase, it is not so when it comes to buying a vacant land. You can sit in the comfort of your home or office and make the purchase. It’s as simple as that!