June 30, 2020

Compare Listings

11 Surprising Ways Vacant Land Can Fuel Your Dreams

11 Surprising Ways Vacant Land Can Fuel Your Dreams

When most people think about growing a business that leads to both financial success and personal freedom, they don’t typically think about vacant land.

It’s not even at the top of the list for real estate investors.

Yet, land has a lot more going for it than people give it credit for.

Even in this day and age, you still often need a physical location for your hobbies or business ideas.

Especially if you are the outdoorsy type.

Fortunately, land is flexible enough to accommodate any dream!

If you are creative, you can turn a parcel of land into both a source of income and a path to freedom.

Below are a few ways to make your land work for you.

1. Sell Land

Do you love deals?

If you are business-minded and looking for a great small business idea, land investors make a living buying and selling land.

Provided you buy at the right price, it can be very profitable!

Hands holding a house model against building ground background

2. Build a Fishing Pond

Is fishing a die-hard hobby for you?

Why not create your own fishing pond to satisfy your itch!

If you have a large enough parcel in the right location, this is certainly feasible.

Put some basic amenities in place (picnic tables, parking, etc) and you can also charge rent to fishing aficionados in the area.

3. Create Trails

Did you buy your property because you love nature?

Want to preserve an idyllic woodland while also creating an income stream?

Build a few trails around the property with some signs providing information on local flora and fauna.

You can then charge a small membership fee to hikers or others who want some time out in nature.

READ MORE:  Selling Your Vancouver Home During the Summer Months

You may even be able to convince some of your members to volunteer their time preserving the trails.

Just make sure you take care of the natural eco-system!

4. Offer Adventure Touring

Perhaps you are the adventurous type.

With a large parcel, you can create trails on your property for mountain bikes, ATVs or snowmobiles.

If you really enjoy these activities yourself, you could even lead tours around the property.

People will pay a decent amount for an adventure!

5. Invest in Alternative Energy

Passionate about renewables?

Or perhaps you are just looking for a savvy investment.

In the right location, you can lease your lot to an alternative energy company.

In parts of the US, this is one of the most profitable uses for vacant land!

6. Sell Your Development Rights

You can also sell the development rights to your property to a public or private entity that is looking to preserve the land as open space for farmland or conservation.

An easement will be placed on the property limiting development, but you can still use the land as the owner for hunting, recreation, farming or other uses that do not require development.

If you really believe in preserving your region’s farming or natural heritage, this is a way to do what you believe in while also making some money.

7. Create an Airbnb Glamping Business

Glamping is all the rage right now.

Take advantage of this and create your own Airbnb business renting your land out for camping.

Take it a step further and create a full glamping set-up, or even a cabin.

READ MORE:  Things to consider before refinancing your Vancouver home or estate

Many folks are making a great income this way!

8. Create an Animal Sanctuary

Do you love animals?

Is your dream to help care for our four-legged friends?

Sadly, there never seems to be enough space to house the numerous animals that are abandoned each year.

Build the necessary infrastructure on your land and create a business caring for the creatures that no one else is able to.

9. Farm the Land

If your dream is to escape the big city and live off the land, you can put your lot to productive use.

With the right soil, you can farm enough for your needs and sell the excess produce to farmer’s markets.

If you like the idea of growing crops, but don’t want to invest too much time and energy, you can always grow something easy (like hardy herbs) and still make a nice profit.

10. Create an Event Space

Are you an event planner?

Love creating magical moments for others?

A beautiful rural lot is the perfect place for weddings and other major life events.

Plan out the perfect setting and set up the right amenities for the kinds of events you want to attract.

You can then make a nice income stream renting the space out.

11. Sell with Owner Financing

If you are looking for a stable monthly income without much work, you can sell your land with owner financing.

In this kind of arrangement, the buyer makes monthly payments to you over a number of years.

You get a steady amount of money each month rather than one lump sum.

READ MORE:  What Real Estate Appraisers Look at During an Appraisal

Just make sure you are able to find cheap land in order to maximize your profit.

And Much More

So, these are just a few ways land can be used creatively to make money.

For nearly every passion or interest you may have, there is a way to use your parcel of vacant land to turn this passion into an income stream.

Just make sure you check all local regulations before moving forward with any modifications to your property.

img

Richard Morrison

My name is Richard Morrison and I aim to empower people to buy and sell real estate in the most effective way possible. I can service all of your Metro Vancouver real estate needs & beyond. I specialize in Vancouver, North Vancouver, West Vancouver, Vancouver West, Richmond, Burnaby and other areas in the Lower Mainland BC Canada. You can be assured that whether buying or selling your home, I will get the job done. I offer a full compliment of real estate services with 15+ years of experience.

Related posts

Renovating your townhouse

Hello guys, I decided to post a blog about a particular case study of a townhouse in Burnaby that...

Continue reading
by Richard Morrison

5 Ways AR & VR Can Reshape Real Estate

Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR) are a lot helpful to many...

Continue reading
by Richard Morrison

All You Need to Know When Buying Caesarstone Worktops

Since homeowners are demanding advanced and more durable kitchens nowadays, quartz has undoubtedly...

Continue reading
by Richard Morrison