I bought this property back in 2012, and at the time it had this small brick house on it, and the 14 acres in the back. If you want to see the raw acreage you can check that out on my Youtube Channel. Since the purchase, I cannot tell you how many times I’ve been asked if I was interested in selling the 14 acres of unimproved land.
What is the true meaning of Unimproved Land anyway?
Unimproved land refers to real estate or property that has not undergone any development, construction, or improvement to make it suitable for a specific use. Unimproved land may be in its natural state, like when the original settlers wandered across it. It’s raw, undeveloped land in wide open spaces, or it’s vacant lots in urban areas.
Unimproved land typically lacks utilities and services, such as roads, water supply, sewage systems, and electricity. Oftentimes, it’s used for purposes like agriculture, recreation, or left in its natural state. Real estate investors or developers often purchase unimproved land with the intention of developing it for specific purposes, such as building homes, offices, or retail spaces.
I’m not interested in selling because, to me, land has always been an economic ‘safe haven’. Land is finite, and there won’t be more of it in 10, 20, or 100 years. Not to mention, I may decide to start a lavender farm one day and would hate to lose that option..
I do know that with each new person who asks if I’m interested in selling, it only serves to validate my decision to have bought it in the first place, along with my desire to hold on to it for the long-term.
But…..Owning Unimproved Land is not without it’s challenges.
Sure, having 14 acres of unimproved land offers a lot of potential, but there are many things standing in the way of realizing material potential. For starters, owning unimproved land comes with a bevy of maintenance demands, some of which you just may not feel comfortable doing, such as;
Bush-hogging and other various tractor work
Tree cutting/brush burning/power tool operating
Implementing security measures for hunters and animals
Water and fencing management.
Animal husbandry (if you choose to have animals)
Some of these require special equipment, along with a comfort level of using the equipment. Ever sharpened the teeth on a chainsaw, cut a limb 15 feet in the air, or installed an electric fence? These are things that as an owner of unimproved land, you may be called to do.
Sure, you can hire it out, but finding the labor for a reasonable price may be more difficult than just doing it yourself.
Also know that, Unimproved Land is not a tax-free investment.
Sure, the expenses you incur in maintaining your land, if it’s not your primary residence, are tax deductible. Say for instance, you have a plot of land out in the wild and you install a solar array, a well, a wind turbine, or a septic system on it, these would be considered land improvements, and therefore are tax deductible.
But tax deductible means, you pay the cost to buy and install the equipment or material upfront, then it can be deducted from your total taxable wages when you go to file your taxes (typically on the Schedule E on your tax form). And keep in mind, it’s typically not dollar for dollar.
Oh by the way, if you interested in finding Unimproved Land for sale, here are 18 ways you might locate a good deal.
Finding undeveloped land for sale has never been simpler, it’s the ‘what’s next’ that’s tricky.
Once you’ve used one of these methods for finding the land you want to buy, the challenge then becomes ‘well, what next?’
Is this going to be a site you build your ‘forever home’ on? Is it going to be a ‘bug out’ property. Is it going to be a hunting property, or do you want to build a strip mall on it. Only you can answer this question.
But, once you’ve determined what you plan on using your new ‘dirt’ for, then comes the challenge of acquiring it.
Land has accessibility to a very broad market, because folks can bid on land they see on the internet, and who have never stepped foot on the property. You may find yourself in a bidding war with someone halfway across the globe, so it’s imperative you have your ‘max price’ in the back of your mind, and don’t go over it. Take my advice here, it may end up saving your marriage.
The Minute land platform (not an affiliate)
Through my research for this post I stumbled across a unique business model where you can invest in virtual undeveloped property for sale, and most of the prices all are under $1000.
The Minute Land platform allows you to invest in ‘virtual’ property. Virtual is a bit of a misnomer, because the property does exist, there is real dirt there. The uniqueness comes with the fact that you don’t actually own the rights to it, so therefore you owe no property tax for it.
To me, Minute land seems like an ‘option’ kind of like that of a stock option, where you have the right to use it, but not the obligation to own and maintain it. For $499, you can buy the right to use this plot in Costilla County Colorado.
Your $499 investment gives you the right to park your RV there, or camp there for the month of June, or even throw a music festival. As long as it’s within the laws and regulations of the local municipality, it’s fair game.
Minute Land is a great option for someone interested in controlling some land in the great wide open for a specific purpose and time, but doesn’t want the obligation of dealing with all the pitfalls land ownership comes with.
I love land, again because it’s finite. There are just so many cotton-picken things you can do with unimproved land. Do you want to build a food forest to have the ability to never go hungry, or propagate plants for massive profit, or dig an underground bunker in case the sky falls.
You can do it all with Undeveloped Land!
Not to mention, it’s just cool to be like Ted Turner or Jeff Bezos and own a large swath of the good ole US of A. And by the way, You never know when you may need a little separation from your mother-in-law, and what better place than to be out in the wilderness, among the natural beauty of vacant land.