When it comes down to buying cheap property, one has to consider “what’s the catch?” Ever since the entire US economy crashed in the 2007-2008 Global Financial Crisis, we can see a steady increase in the prices of real estate in the market. Before considering to buy land or real estate, you need to understand what makes land cheap or more expensive than the others in the market. When you hear real estate agents crying “Location”, there’s a reason why they’re screaming it. For example, you’ll find vacant land at a more reasonable price in the market due to the nonexistence of buildings, schools, hospitals, electricity or water lines and other facilities. In wildlife realty due to certain lands that have access to wildlife, these lands have a revenue-generating potential, hence are a bit pricey in the market.
List of States Where you can Buy Cheapest Land in the US
Although many of the lands in some of these states are as cheap as can be in the US, the main reasons are mostly the condition and the location of these lands. Many a time these lands lack convenience, amenities, and people, giving you more of a loneliness issue along with a maintenance issue. Even though they may actually be cheap on the paper, they’re actually quite expensive when you consider commuting to and from cities to get the amenities you need, the maintenance, building houses from the ground up, restoring farms, arranging proper irrigation systems or grazing grounds for cattle (in ranches) and so on. Many of these cheap lands are prime lands for investors who’d prefer building their enterprises from the ground up or simply fixing and flipping certain properties to, later on, sell at a much higher price. Take a look at some of the states that have cheap properties and decide where you’d like to invest your time, money and energy in.
When it comes down to the price, Marquette, Kansas should be at the top of your list. They are currently offering land so cheap, it’s practically free. There are many land sales happening in some of the towns here. Cons: You’ll find more open and vacant spaces as opposed to building and people. You’ll also basically find many small tight-knit communities in these towns. To actually be an owner of such a cheap land, you’ll have to build a house from the ground up and live there for a year to claim full ownership.
In Camden, Maine, after every 5 years, the town employs 24 people. Hence, they provide 2.8 acres of land to anyone who brings business to the town. The town is open to commercial and residential development. Cons: You’ll have to put a down payment of $175,000, which will be refunded once you get accepted for their payroll and fulfill all their requirements.
If you’re one of those people who are a huge fan of waterfront properties, you should check out Oregon. There is plenty of raw lands, especially in the North Bend region, near the Adventure Coast that is particularly gaining the attention of investors. The lands here are really close to cities, hence making amenities more easily available. There are also a lot of vacant lands available for those who’d prefer being 3 hours away from Seattle, near the ocean and to take a look at some game real estate. Find more here at land wildlife.
Looking to own a farm of your own with some reasonable land prices in the market? Look no further Louisiana is your best bet. Especially if you’re looking for small farms to own. Cons: The only con is, some of the areas in Louisiana are mostly off the map. So, don’t expect to find fertile soil, properly working irrigation systems or scenic square fields. These lands will require a lot of attention, care and time to get to the point where your farm finally looks all picturesque.
In case you were wondering in terms of cheap ranches, my best bet would be to look into lands in Idaho. The issues with ranches are, they have to be in a prime location where the land should be large enough to have open spaces for the livestock, grazing land, proper sources of water, and amenities nearby, which is why it usually is difficult to find ranches as cheap as farms. But, you can still find ranches for sale in Idaho at reasonable prices if you look for them on our website.
It’s basically a buyer’s paradise in Detroit. There are lots of sellers who are willing to bargain and sell houses within reasonable prices. Some of the houses are really close to shopping centers and restaurants, making commuting to and from easier. Cons: You can bet there’s something fishy going on here, especially when you can get a 4,800 square-foot house for $500. The reason is many of the houses in some of the areas are in deteriorating neighborhoods that’ll take a while to wade of out of the mess they’re in. Or, the house itself is in dire conditions that it’ll need a lot of love, maintenance, repairing and time.
Gerlach, Nevada takes raw and cheap land to a whole new level. Here the lands are as cheap as $157 per acre. Cons: These lands are literally just that, plain ole land. They’ve got little to no vegetation, they’re hot as Hades (because, hello deserts), and everywhere you look, you can simply see plains in the far distance. Let’s not forget to get these lands at such a cheap price per acre, you’ll also have to buy them in bulk.
Cheapest Places to Buy Vacant Land in the US
When it comes to looking at the cheapest places to buy land in the US, try to target your search to the Southwestern side of the US which includes Oregon, Idaho, Washington, California, Nevada, Utah, Arizona, Colorado, Texas and western Kansas. To the Northeast of Florida, we’ve got Jacksonville, which is a prime location for vacant lands and has got lots of potentials, especially for those looking to invest in building a property from the ground up. A lot of time, many of the vacant lands are just the thing investors are in search of. With vacant lands, because you have a clean slate, you get to decide what you’d prefer to do with the land. And when you see that there’s a lot of potential in a land, it just gets even better. For example, the timberland in Arizona or Oregon provides some the best locations to get into the ranching business or to simply buy a cabin to enjoy hunting, hiking or nature every once in a while, especially when they’re on the sale. Timberlands are some of the prime properties on the real estate market, all because of their beautiful and picturesque location. When buying, do remember your property will cost per acre of land. Which is why you need to look into every aspect of the land you are trying to invest in. Check to see if it’s a great location for farming or lodging, which makes the property more expensive than the others. For example, there are certain farms on sale in Washington, that are at a bit on the pricey end. They’re obviously going to be a bit expensive because these lands have got large areas of dense fertile soil, some of the best grazing areas for livestock, well-planned irrigation systems, houses and cabins, facilities and a lot of amenities nearby. Remember to check out small pockets of lands closer to the cities, like Tampa Bay, Florida, Chattanooga, Tennessee, and Buffalo, New York. Currently, online land sales are a thing where many of these lands are being sold like hot cakes, especially in the comfort of a home where you get the opportunity to take a look at the land online or through satellite imagery.
Risk and strategies when considering online land sales
Before you go on to check out some of those land listings you’ve come across online, there are certain things you’ll have to assess before taking the leap. For instance, you’ll have to determine the purpose of that piece of land you’re about to invest in, are you buying it to develop a house, a farm, a school, etc? Do you plan on buying it and then fixing and flipping it or would you like to build a house in it to live with your family or are you planning on renting it out? After you’ve decided what you’d like to do, the process doesn’t stop here. As soon as you see a land property online that you’re interested, check and recheck some of the details of the property, its location, its size and shape and so on. Before signing those cheques, you might want to actually get onto the site and take a proper look at the property. Most of the time, what it looks like on paper, isn’t what you’ll always get. Check to see the suitability of the ground, if it's contaminated by asbestos or other chemicals or if the ground is solid enough to lay down foundations that won’t crack or collapse in the future. Access to utilities is a major factor to consider when buying a property. You’ll have to make sure that there are access points to public areas such as schools, restaurants, shopping centers, etc. Be aware of the zoning restrictions on your future property, such as floor area ratio, the height of the structure you’d want to build, lot coverage, and accessory structures (like garages, pool houses, etc). When buying a vacant and raw land you’ll have to remember that you’ll be developing the property from scratch which means that there’ll be a lot of expenses to consider, especially since there is nothing revenue-generating on it.
So, at the end of the day, you’ll be leaving a lot of money tied up into a property, what with the taxes, maintenance and actually buying the property. The golden rule to buying any property is, ask questions and ask a lot of them so that in the end you don’t regret your decision. When it comes down to buying any US land be it online or offline, make sure you do your research, find the right location, talk to the right people, discuss with your realtor and then make your decision. At the end of the day, you’ll be investing your time, energy and money into a land that could bring in huge returns to your investments. Make sure the property you choose, suits you and your family.
Have fun checking out some of the lands that are on sale online. If you’re interested in certain lands where you could start a ranching or farming operation, check out these ranches for sale in Oregon.