Why Buy Vacant Residential Land Lots?
Some people who want to relocate to another house prefer to move into a one that’s already been built. But then there are the folks who would rather buy a vacant residential lot and have their home built from scratch.
If you’re among the individuals who like the latter choice, look to Deb & Cheyenne LLC, a family-owned-and-operated land developer in North Georgia, for a lot that’s perfect for you. Deb & Cheyenne is now working on developments in Pickens, Cherokee, Fannin and Gordon counties. Here are some advantages to buying a residential lot that’s vacant.
Low Entry Price
One of the key benefits of buying vacant land is that it is almost always cheaper than buying an improved lot.
When you have a blank piece of land, you have a clean canvas on the kind of home you want to build (that’s within the limitations of your jurisdiction's zoning and building codes). For example, if you’re building a house, you can choose between having a big front yard or a bigger back yard.
Minimal Carrying Costs
Because vacant land is less expensive than a comparable improved property, it usually costs less to own over time. If you have a mortgage, the payments will usually be lower, and your property taxes and insurance will be less.
Unlike buildings, which gradually fall into disrepair if they aren’t maintained, vacant land will usually remain in the state in which you bought it. With this in mind, vacant lots typically track the market very well. This can make them better long-term stores of value than improved properties, which usually lose value if they don’t undergo periodic capital improvements.
Significant Appreciation Potential
Vacant land can also be an excellent investment for speculative investors. Land in areas that go from undesirable to desirable can offer extremely high returns.
Using their 60 years of experience, Deb & Cheyenne LLC can help you in every aspect of your purchase, including securing financing to buy the land or getting construction loans. Please don’t hesitate to contact them at 770-639-5687.