Real estate remains the most lucrative investment today. Unfortunately, not every real estate investor makes a profit. Sometimes, their investments are not the right kind of asset they should invest in. Buying land is only a foolproof investment if handled diligently. There are different real estate properties around Burnside, Victoria which you could purchase as an investment property. A real estate development company can help you find the right one. The company will check the lot’s zoning restrictions, soil quality, safety from flooding and orientation to guarantee it is appropriate for your intended future use. The following are the three primary categories of investing in land.
This investment involves buying land holding it for development before reselling. If you want to build a residence, you can purchase 2 to 3 lots and hold them. You will then sell the extra lots and keep one with which to build your home. The money you get from selling the additional lots will be a significant boost in your construction project budget.
Sub-Division and Development
This investment option involves buying a large parcel of land then subdividing it into smaller lots. It is generally a good investment option for large investment groups. The upfront purchase of land will be more affordable, but you will need to factor in costs for subdivision of the property.
This closely resembles long-term holding. You will, however, sell all of the properties. In speculation investing, you will buy land lots, hold onto them and sell them in future for a profit when their prices appreciate. There are many pros of investing in an undeveloped property or land. It gives you room to build a customised home, is inexpensive, needs minimal time commitment and requires no repair or renovations. You should, however, be diligent when picking the property development company to ensure your investment pays off.