Land is a valuable asset, especially if it is located within a high growth locality.
When trying to sell your land, it is important to maximize its expected return by taking deliberate steps to improve the value of the land. Increasing your land value will allow you to sell it faster and for the highest price possible. The following tips will help you improve your land value before you sell it.
BOOST ITS CURBS APPEAL.
Improving your land’s curb appeal is a simple way to boost its value. Depending on the acreage of the property, this is a Do-It-Yourself project. Walk through your property and make note of all the things you can improve on, such as:
– Clearing junk and garbage.
– Clearing overgrown shrubs.
– Pruning and trimming trees.
– Eliminating weeds.
– Clearing brush and organic waste.
– Clearing environmentally hazardous materials like chemicals and unused wells.
ERECTING A PERIMETER FENCE AROUND THE PROPERTY.
If you do not have the time, tools or expertise to do these projects by yourself, you can hire the services of a professional landscaper. Installing a fence can be an expensive project but the return on this investment is worthwhile.
Running utility lines to your property has an immediate effect of increasing its value. Buyers will consider and in most cases purchase a property that has utility lines installed. A property located within city limits or established suburbs does not require a huge budget to install utility lines. In most cases, the initial fees and the cost of laying the lines is the only cost. On the other hand, if your property is located within a rural area, setup will require a bigger budget and professional expertise to install these utility lines.
You will need to get a perc test, obtain permits, pay electricity lines installation fees, and build a septic tank. Although these look like daunting and expensive, the increase on the value of your land is worth incurring the cost. In most cases, these investments will add 10% to 30% value to your land. It is also important to realistically evaluate the cost of adding these utilities to your property and the expected value addition to determine whether it is worth installing them.
Rural Land that has no or poor access is difficult or impossible to sell. It instantly has a diminished value. If your land is not permitted to have roads around the land, this can make it tough to sell your land at a reasonable price. Make sure you check with your local planning and zoning department to assist you with this process. If this is not a possibility then you can easily shift gears, consult with a professional and sell your property as hunting or farming land.
INSTALL A DRAINAGE SYSTEM.
Make sure that your land does not hold stagnant water after heavy rains or drains poorly. This will diminish its value. Luckily, drainage challenges can be sorted by installing underground drain pipes. These pipes ensure that water is dispersed from your property making it ideal for farming, building or even grazing. Tiling is another inexpensive way to improve your lands drainage system and normally costs less than $1,000 per acre.
PLANT TREES AND FLOWERS.
Planting trees and flowers on your land will add to it’s value and help you sell your land faster. If your land is flat and open, planting trees does not only add privacy to it but also adds some natural beauty. It is important to visualize the finally look of your land when the trees and flowers have grown. This will help you to plant trees which will not block any scenic views from your property or crowd any future developments.
It is amazing how a simple hunting cabin or a pole barn will add value to your Rural land. Even though this is not an improvement that is affordable and practical for every piece of land, it is something worth considering if you are planning on listing your property as a recreational, hunting or farming land. It is also important to note that building structures on your property will increase property tax and may also turn away potential buyers who are looking for vacant and raw land. However, a structure on your property will in the long run add some much needed value to your land.
Ultimately, Taking the time to see how you can improve the value of your land will help you to sell your land faster at a higher price.