by Laura Mueller
Record-low interest rates mean that it’s an excellent time to buy land. And if you’re looking to buy in the great state of Minnesota, you’ll find plenty of available properties to consider as you search.
Minnesota offers a lot of opportunity for interested land buyers, with an abundance of lakefront properties (the state boasts more than 15,000 lakes within its borders), plenty of natural beauty, and bustling areas in and around Minneapolis — a city that’s been growing steadily in popularity over the past decade.
So where should you start if you’re looking to buy land in Minnesota? We’ve put together this quick guide to help you get the ball rolling.
Figure out exactly what you’re looking for
Minnesota runs the gamut in terms of land, so it’s important to narrow in on exactly what you’re trying to get out of your investment. If you’re looking for a place to build a homestead or recreational property, for example, you may want to seek out land near one of the state’s snational parks. Alternately, if you’re interested in commercial or residential development then it’s probably a good idea to stick closer to Minneapolis and its surrounding suburbs.
Hire a local agent
We always recommend that you hire a local real estate agent to help you in your land search, since nobody knows the specifics of an area better than an agent who has proven experience assisting land investors buy and sell there. Get a referral if you can, and make sure that anyone you choose to work with brings both knowledge and a good communication style to the table — as well as strong negotiating skills.
Take your time
Don’t rush your Minnesota land purchase (or any land purchase, for that matter). Taking your time ensures that you make a good investment and that you purchase a property that meets all of your needs. And while competition can get fierce, it’s always better to invest smartly than to jump in too soon and regret it later on.
Research zoning and restrictions
As always, zoning and restrictions should be a top-of-mind concern when you’re seeking out land for sale. Whether you’re buying raw land or something more developed, the unique zoning rules and other restrictions on a property will play a big role in helping you determine whether your future plans are viable. If you can, bring out an expert from the local Building and Planning Department as well to walk through a property with you and explain what its possibilities are (and aren’t).
Make multiple visits
When you find a plot of land you really like, plan to visit at least twice — including after a rainy day, if you can. It’s possible you’ll miss something crucial on your first go-around which is why multiple visits are recommended. And visiting after rain will cue you in to any potential water issues on the property. In both cases, what you learn can help you figure out the best offer possible, and negotiate the best price.
Use our listing page to browse Minnesota land for sale and find your perfect plot of land, and follow the tips above to ensure you invest wisely. With so many great land properties in the state, you should have no trouble securing a great fit.
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