Land News 800x150 full size

This Expanding Community Trend Could Increase the Value of Your Land

this expanding community trend could increase the value of your land

Subscribe to our Land News Email

Published date:

August 29, 2016

Last updated date:

August 29, 2016

By Manny Manriquez

by Mark Bingaman Photo credit: That land you're about to sell or buy could soon – or perhaps, already be - on its way to a pretty substantial increase in value if a hiking or biking trail or other transit-oriented develop is nearby or in the planning stages. Officially known as Trail-Oriented Development (TrOD), this latest amenity is a sort of sibling to “Transit-Oriented Development,” a trend that has already firmly established itself as a combination of housing, office, and retail development stirred into a pedestrian-friendly neighborhood with proximity to public housing. The difference is that Trail-Oriented Development is more concerned with “walkability” and bike-friendly proximity to hiking, biking, and nature trails. As far as residential real estate is concerned, a National Association of Homebuilders study reports that trails are a massive lure to potential homeowners. “Among the top four most-wanted amenities, three were the same for every age group: They all desire to live in a community that’s typically suburban, with close proximity to a park area, and that has access to walking/jogging trails,” indicates the NAH study. Trails accessible to housing developments increase the general value of housing in the area, and individual property values. While some trails are simply walking, biking, and nature trails snaking through parks and housing developments, others are part of more extensive roadways that connect with dedicated bike and walk paths designed to carry commuters from suburban areas to downtown work locations.

Rural and Interstate Trails

While property owners are already well-familiar with interstate paths focused on hiking (like the Appalachian Trail) multipurpose trails, especially ones focused on biking, are becoming more prolific, with many designed to follow the routes of abandoned railways or canals. In most cases, both states and the individuals cities and small towns that these new trails travel through, are deeply committed to improving and developing trails for travelers, with all political entities cognizant of the economic value they bring. For example, the new Ohio to Erie Trail traverses the entire state of Ohio, with 285 miles of trail from Cincinnati and the Ohio River in the southwest portion of the state, through the state capital of Columbus, and then onward to Cleveland and Lake Erie in the northeast quadrant of Ohio. “Bicyclists, equestrians, skaters, hikers, families with strollers, bird watchers, walkers and nature lovers are a common sight. In the winter, the trail becomes a snowshoe and cross-country ski path,” according to the trail's official website.

Benefits for Landowners

In addition to the general increase in the value of land that's adjacent to both community and larger trails, these pathways can offer unique economic opportunities to those who own land abutting trails, especially those geared to weekend (or longer) traveling. Many entrepreneurs and landowners have opened bed and breakfasts, campgrounds, cafes or coffee shops, small concession stands, and even bike shops (with parts and mechanical repairs) designed to service trail travelers. It's important to note that these business opportunities are equally strong in potential benefit to property owners in both cities and also those along more rural stretches of trail. As you search for land to buy right here on, pay attention to whether that acreage for sale abuts a dedicated trail of any sort. Not only does it make the land more valuable, but there could be increasing potential and opportunity for you. And the same goes for current landowners: If a trail runs near your property for sale, or farm for sale, or ranch for sale, be sure and market the opportunity and increased value to any potential buyer. National Association of Homebuilders Study Resources: Ohio to Erie Trail The Columbus Dispatch: Community and Economic Value of Trails

All Land News

Leave a Reply