Many times clients reach out to me seeking assistance and advice with investing in real estate. One of the common questions that get asked by most parents or siblings with a big family is what can they invest in if they have a large family and want to leave some sort of real estate for the kids. The Benefits of Purchasing An Acre of Land outweigh the cons.
Purchasing an acreage, especially one that has an infrastructure in place is a plus for large families. Here are a few benefits:
1) An Acreage Can Be Sudivided And Shared
An acre of land is 43,560 sq ft, with this huge amount of land the property can be subdivided and shared amongst families. Acreages are wonderful investments and basically retains their value or increases in value especially if you are purchasing in a developing neighborhood, be it residential or commercial.
2) They Arent Making Any More Of It
Always keep in mind that when you purchase land there are alot of people out there who want what you will have and it is a limited precious resource with limited quantities that you are holding onto (especially in Nassau, Bahamas). This finite asset that you will be holding onto can be a lot more profitable than any other investment vehicle out there for the long term.
3) Its a Hands Off Investment
When you purchase an acreage it is an investment where you won’t have to do any work to it whereas if you had tenants you would have to factor in plumbing, lawn care, painting and anything with maintaining if you had a traditional rental.
4) You Can Lease Your Land
Many people dont know that there is a market for persons who are looking to lease land, especially if the location is in a prime location. Leasing your land can be very beneficial until you are ready to develop it to your specifications for you and your kids. This is why it’s always better to buy rather than rent.
In summary, purchasing land is something I always advise my clients to invest in, especially if the area is a developing one. As mentioned earler land retains its value and can increase in value over time. When you have a huge family and want to leave something for your kids or you and your siblings want to build and want to be near each other, acreage is the best way to go.
When buying an acreage, it is usually much cheaper than buying a property that has already been subdivided.
If you are considering purchasing land or a home, you can reach out to me at 1-242-565-4758 or via email at perez@crbahamas.com.
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