Land is a valuable asset, and finding ways to increase its value when you’re looking to sell may be one of the smartest things you’ll do aside from the initial investment.
S.R. Campbell began doing business in land development in 1978, and for more than 20 years, SRC Land has made the dream of owning land possible for anyone and everyone interested. We’re here to help. With beautiful lots for sale in Harlingen, our experience and standards help our customers find everything they need to fulfill their home-living experience.
If you want to take advantage of the hot market, you’ll want to check out some of our expert tips on how to increase its value. Harlingen is a booming community, and growth trends and economic forecasts predict continued prosperity and opportunity on the horizon.
Here is helpful advice on increasing your property’s value and making it more appealing to prospective buyers.
1. Improve Your Property’s Curb Appeal
Curb appeal is an important aspect that doesn’t simply apply to homes. Improving your land’s appearance is a surefire way to increase the value, and improving curb appeal is an endeavor that can be done with or without the help of a landscaping company. Depending on the size of the property, many landowners are able to complete these tasks in the course of a short period of time.
Take a walk around the property and make a list of things that need to be done or removed to improve the landscape of the property. This includes simple actions including:
- Removing junk and garbage on premises
- Clearing overgrown foliage and weeds
- Pruning trees
- Clearing brush
- Disposing of toxic chemicals or environmental hazards
- Sealing unused/unsafe wells or water sources
Consider installing fencing as an investment to increase the property’s value. Prospective buyers appreciate the opportunity to purchase land requiring minimal effort to improve upon. Unattractive land with no emphasis on landscape translates to land sitting on the market too long, or invites buyers to present lower offers.
2. Improve or Offer Access
Consider the perspective of a buyer when a property doesn’t offer easy road access. Many times, a property may fulfill most of the needs of a prospective buyer, but difficult access to the land may be what ultimately becomes a dealbreaker.
If a formal agreement doesn’t exist, a landowner may consider talking to neighbors about applying for a legal easement. The process of creating an easement and road maintenance agreement is inexpensive; however, it’s important to consult with a title company and a real estate agent to verify the legal validity of the agreement.
Asphalt or concrete driveways are great options for improving access; if cost is a factor, a more affordable alternative would be to use gravel. These improvements increase the value of the property dramatically, and prospective buyers won’t easily overlook these benefits.
3. Consider Installing Drainage
Drainage issues are a concern for anyone looking to purchase raw land. Land with ineffective drainage or property where standing water remains following heavy rains are some of the least appealing properties to prospective buyers.
In fact, these issues are a significant reason why values plummet. Fortunately, issues associated with poor or non-existent drainage can be fixed easily with the installation of underground drain tiles.
The tiles are an affordable solution at just under $1,000 per acre and work to disperse the water, as a result making a property more attractive by allowing improvements needed for farming, grazing, and building.
4. Run Utilities
Running utility lines to a property ensures a significant increase to the land’s value. If a seller has the budget for improvements, running utility lines is a significant way of making a property more appealing. An ideal choice for buyers are properties with utilities, and the process is easier than you may expect.
Properties within city limits may connect lines on the street and landowners may then pay for hookup fees. For those whose property is located in a rural area, the process may require a bit more time, including planning and money. Other alternatives include solar or wind power. Property owners would benefit from running utilities as the investment will equate to adding 10-20% to your land value.
5. Trees and Added Land Value
Prospective buyers are interested in a property based on potential. If a property is on a spot that offers great views but is obstructed by trees, landowners would benefit in considering removing the trees to improve views.
A forest service office in your area can provide a list of forester consultants that can explain legalities and tax issues, and assistance with timber sale which would mean extra money for you.
As well, if your land offers access to unattractive views, planting fast-growing trees makes a property more salable, and helps reduce noise including that of traffic. The important thing to remember is that landowners can find many ways to improve their land value. With proper planning and strategy, earning potential can be increased and your financial future can look even more promising.