During this time and age, when prices of everything are going up, every financial decision is crucial to ensure one makes the most of their hard-earned money, When it comes to big purchases such as buying real estate, the gravity of this life decision draws many questions that may determine what the most ideal purchase is. When it comes to choosing the right type of property to get, considering the near future and the long-term performance of this purchase, there has been an ongoing debate about what will be the best decision in the long run – to get a house and lot or a condo unit, or to get a bare lot and figure things out along the way. A lot, despite it being the barest form of real estate being sold, packs great benefit for its buyer, whether for investment or future use.

When it comes to investing, there are many reasons why tycoon investors choose to invest in real estate. Among the many possible forms of investment one can bet their money on, real estate assets are one of the tangible investments which give it a unique advantage of having multiple income streams and flexibility in terms of use. Among the different types of real estate, a bare lot is the most affordable, while still amassing great potential that is beneficial for its buyer. Here are some factors that will help in the understanding of the potential of a lot for sale.

Lots may be the most affordable forms of getting into real estate but its promising value appraisal will surely make it worth its while. Many real estate investors believe that a location of a property, whether it’s a bare lot, a single-detached property, or a condo, is the single most important driving factor that determines the appraisal rate of its investment value. Considering this, buying a bare lot with a strategic location will cost you less without hurting the possible value gain of your property because other selling points of a property will become irrelevant when people lose interest in the area where a property is located. Buying a lot as an investment will allow you to only worry about one thing to make and break it, which is the location.

Why is location so important anyway? Because in forms of real estate such as condominium units, single-family homes, and commercial buildings, most people decide to buy them based on how much they like the physical commodities of the house or building, but coming with it is the plot of land where it stands. Whatever is currently erected on the plot of land can be demolished, remodeled, or renovated, but the lot where it stands and where it is located cannot be changed.

Since buying a bare lot does not come with a structure that may physically entice buyers, you are investing in the particular location around it. A block in a particular city may be a good or bad choice just like how a neighborhood or community of a property would be. With that being said, regardless of whatever is constructed above your lot for sale, its location will be the most determining factor behind a property’s value.

It is important to determine when a lot for sale’s location is good or bad. While this is subjective depending on each individual. There are some elements about a location that determines its value, making it a great basis to choose whether a place is ideal or not. One thing that must be understood when buying a lot for sale is that while its location will never change, its surrounding area will never stay good or bad forever. Cities, towns, neighborhoods, and communities constantly change, and areas may shift from being less desirable to an “up-and-coming hotspot” within a few years. All it takes is development in the area. When choosing a lot for sale, keep these factors in mind to ensure that you get to harness its full potential.

  1. Mind your Centrality. The part of a city you choose to buy a lot for sale in will greatly affect how much you will be paying for your land. Just like most tangible assets, the land is a limited commodity. Getting a lot in highly developed cities doesn’t have much room for additional growth and tends to have higher prices compared to cities with much room to expand. When looking for a lot for sale, do some research about what is happening around the city. Look for substantial changes around the area such as planned developments or construction of new key establishments. Areas that undergo sweeping changes are good signs and improve their desirability, therefore raising the value of properties around.
  2. Scout the neighborhood. While the appeal of a neighborhood is in the eye of the beholder, there are some factors that favorable neighborhoods have in common, accessibility, appearance, and amenities. Aside from this, by evaluating the neighborhood, you will be able to have a grasp of the average size of lots available. Shady trees, quality landscaping, and nearby parks or community spaces tend to be desirable.
  3. Mind your neighborhood’s accessibility. Look for a neighborhood that is near major transit routes and a city’s thoroughfares and has more than one entry point. Commuting is more of a struggle nowadays, so land that is easily accessible is more desirable compared to one that is tucked away at the end of a long single passable road.
  4. Look for essential amenities within the neighborhood. Most people frequent places which offer convenience. Being close to groceries, schools, hospitals, and restaurants makes an ideal neighborhood. Nearby commercial school districts also boost an area’s land values, giving the lot for sale great potential. Aside from present amenities, look out for future ones as well. Plans for new schools, hospitals, public transportation, and other civic infrastructure can dramatically improve property values in the area. It is favorable to buy a lot for sale which has future amenities in the works as the value appreciation scales over time, making you see the appraisal of your property’s value as time goes by.

Given all these facts, with the right planning, buying a lot for sale can give you so much in the future when the right shots are called, what more way to decide the best land purchase than getting a lot in a strategic location with a known and reputable real estate developer.

Greenfield Development Corporation houses three prestigious properties which offer bare lots for sale. Within Greenfield City’s 400 hectares of a self-sustaining network of residential, commercial, industrial, and recreational communities are Trava, Pramana Residential Park, and Solen Residences, These properties offer bare lots that are surrounded by a balance between innovation and the embrace of lush greenery. Amid relaxation and serenity within the surroundings are establishments that will make its residents keep up with the city life as it is located near close to Paseo, Laguna Central, and Arcadia, three lifestyle establishments where restaurants, bars, cafes, and outlet stores, and shopping strips with sprawling open spaces and lush greenery are located.

Whether for residential use or an investment property, buying a lot in Greenfield City will surely be an excellent choice.

References:

https://www.investopedia.com/ask/answers/041615/why-should-you-invest-tangible-assets.asp
https://www.fortunebuilders.com/passive-income-real-estate/