The average value of an acre of land in the United States is roughly $12,000, USA Today reports. Before selling your rural land, there are a number of changes you can make to effectively increase its value and make it especially appealing to prospective buyers.
Ways to Increase the Value of Your Rural Land Before Selling
By tidying up, improving access, and focusing on the effectiveness of your utilities, you can make your land more lucrative for buyers and maximize your return.
1. Tidy Up: Improving the appearance of your land is a simple yet effective way to boost its value. Buyers will pay more for cleared land requiring minimal work while uncleared land will inevitably drive the cost down. The more acres you have, the bigger a job this will naturally be. Start by walking through your land and making a list of necessary tasks. For example, you may need to remove garbage and debris, pull out weeds, overgrown shrubs and grasses, clear brush, mow the grass, and prune trees. Big and small landscaping jobs can be performed easily with a skid steer. Solid tires for skid steers are especially important in navigating rougher terrains with balance and stability. A deep tread design provides better traction over difficult surfaces. If you’re short on time or correct equipment, hire a reputable landscaper to complete the job for you.
2. Improve Access: If your land doesn’t include access or is difficult to access, your property will attract a limited number of buyers, decrease in value, and become much harder to sell. You’ll need to put a legal agreement in place with your neighbors regarding road access and road maintenance; this is a relatively quick, easy, and inexpensive thing to do. However, meet with a real estate broker and title company to ensure any agreement made is legally binding. If you need to do construction, an asphalt or concrete driveway leading to your property is ideal, while gravel is a cheaper alternative. If your land already has legal access, make sure it’s free from impractical and unsightly roadblocks like potholes or overgrown brambles and trees.
3. Run Utilities: 73.6% of buyers say electricity is their number one logistical concern when looking for land in a rural area. Although adding utility lines to rural land can be expensive and time consuming, it makes your listing much more attractive to buyers and can boost its value significantly. Running utilities in a rural area will likely require obtaining permits, a percolation test, installing a septic tank, and drilling or driving a well, as well as paying for electricity lines. Before deciding to go ahead with installing utilities on your land, make sure it’s cost effective for your situation. The resulting increase in value should cover the cost of running the utility lines.
Before selling your rural land, make sure you’ve done everything possible to increase its value. With these smart tips, you’ll ensure your land attracts buyers and sells for the highest price possible.
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