We often get the question, “why we are interested in buying land?” After all, many people struggle to make their undeveloped land pay for itself. While not all land is easy to develop, there are several potential uses for raw land. Below are a few options to get you brainstorming.
1. Educational Uses
Set up classes or rent your land to a company or not-for-profit that teaches survival skills or offers outdoor education. Companies or non-profits may also want to rent out your land to host camping events or outdoor education retreats.
2. Livestock Grazing or Roaming
You may not want to run a full farm on your land, but you can rent out raw land to farmers for grazing livestock. If you build a fence or a small stable, you can also rent the space to local horse-owners who may want to give their animals space to roam.
You may like owning land for use as a camping ground, but you can also make money by renting out your land to other camping enthusiasts. Set up your own mini-campsite or find a buyer interested in renting your raw land for use as their own private campground. You can also build a small rustic cabin to make the site more desirable.
Invest in trails around your property for hikers or cross-country skiers. You can also add picnic tables or other amenities for community use. Some landowners offer horseback riding, snowmobile tours or ATV tours for the adventurous types. You can increase your price by including pickup and drop-off services from local hotels with stops at farm stands or other area attractions.
If your land includes a lake or pond, you can stock it with fish. Raising catfish or other suitable fish species is relatively easy, just throw in some fingerlings each year and toss the guys food every now and then. You can charge a small fee for each fish that customers catch, rent out fishing poles, sell a few simple snacks and set up a picnic table and BBQ for the family. If you have a larger plot, you can also rent out your land to hunting enthusiasts.
6. Specialty Produce
Not every farm venture needs to be a full-scale operation. You can grow small specialty products (such as shrubs or trees for landscaping) to sell to local homeowners or markets. Herbs are another hardy option that won’t take much effort and will give you a nice seasonal income stream. Another interesting option in certain climates is a cut-your-own Christmas Tree farm.
If you believe in the importance of protecting our natural heritage, you can let your raw land return to nature. In some locations, you may be able to sell your land or its development rights to local conservation groups that will be happy to pay you to keep your land free from development. A more elaborate option is to set up a conservation center for an endangered species. While this is a more expensive option, there are grants and local/national groups that will help with funding and management.
8. Add a Mobile Home or Tiny Home
If don’t want to pay for a house, you can purchase a pre-made mobile home or tiny home and place it on your land as either a personal getaway or for listing on Airbnb. These options are relatively cheap and can be installed without foundations, but you may need to figure out a way to bring utilities to the building if your land does not have access to a municipal water or sewer line.
9. Harvest Timber
Another option for a wooded plot is to sell the trees on your land. Sometimes the total value of the trees can sometimes be worth far more than the value of your land!
10. Build a Storage Facility
If you have land that’s zoned for commercial use and is close to a town, you could consider opening a self-storage facility. The business model is fairly simple and generates great profits, but it comes with a hefty up-front cost. If you don’t want to pay these costs, you could also allow people to buy space on your land to store their RVs, trailers, equipment, boats or other items that are able to sit outside for long periods of time.
And Anything Else You Can Think Of
There are many more options out there. Think about the needs of your community – what’s missing, what could go on raw land? Go ahead and leave a comment with more ideas!