Hello World! Welcome Friends! If your land is located in a high-growth area, it can be a valuable asset. Should you decide to sell it, you may want to know how to maximize your return. Adding value to the land for sale based in a commercial zone means making improvements that will increase cash flow.
You need to show potential developers that they can create profitable assets on your commercial land for sale. As a result, you can sell the property for the highest price possible by hiring the top land sales agency in the Lubbock area.
Clean Up the Land
Buyers looking to make land investment are willing to pay a premium for a property that requires minimal work to start developing. So, you’re more likely to find buyers when your land is cleared and looking at its best. Start by removing garbage and weeds, clearing overgrown shrubs, and pruning trees. To clean up the land you can visit websites like Winsco Land Clearing.
Consider also adding a fence; although the fencing installation can be expensive, it’s a good investment that will boost the land’s value. In addition to enhancing the curb appeal, fencing promotes privacy and safety and will impress prospective buyers with families.
Ensure Easy Access to the Property
Lack of legal access doesn’t look like a good commercial land development opportunity in the eyes of prospects. On the other hand, public road frontage is a huge value driver. However, if there isn’t direct road access and you don’t have a formal agreement, consider asking your neighbor about creating an easement. Creating a legally binding easement is relatively inexpensive and simple. However, it’s wise to consult with the title company and a real agent to ensure everything is as it should be.
Add Utilities
The presence of utilities on a property expands its future potential use, increasing its resell value. Running utilities can be very simple if the property is located in an established suburb or within city limits. You’d simply have to connect to lines on the street and pay the hookup fees. However, if you have a rural property in hand, it will require more money and planning. In this case, you may be required to get a percolation test, obtain permits, pay to have utility lines run or drill a well. The costs can quickly add up, but if the property is in a desirable location, it will be a worthwhile investment.
Install Drainage
It’s not uncommon for some areas of the vacant land to have issues with drainage. If the property holds onto water, the ground may be used as a breeding ground for worms and mosquitos, damage the plants, and cause erosion and flooding. This can significantly decrease the property’s value. Luckily, drainage issues can be resolved by simply installing underground drain lines. The drain lines will ensure the water is well distributed, which would make your property a favorable investment opportunity.
Add a Body of Water
The presence of a water body on the property is a huge plus for lands in a commercial location. Streams, ponds, lakes, and small waterfalls increase the appeal and will make your undeveloped land stand out from your neighbors. If your land doesn’t have natural ponds and creeks, you might want to build one. However, be sure to choose a body of water that doesn’t require constant maintenance as the amount of work required might turn off potential buyers. Keep in mind that a number of variables can impact the pond construction process. Therefore, it’s a good idea to talk to experts to advise you on site selection and navigate regulations and permits.
Plant Trees and Cultivate Flowers
Trees provide shade, enhance the air quality, act as windbreakers, and add privacy to the land. Generally speaking, the bigger they grow, the more their value will appreciate. Consult with a professional to find out which varieties would work best on your land. Also, keep in mind that the average tree takes between three and eight years to reach maturity, so it’s wise to plant them as soon as possible.
Moreover, you can add screening plants to enhance the land’s appeal and provide privacy from the street and properties in proximity. Bamboo is one of the fastest-growing plants that also creates a lush screen. Additionally, you can plant native flowers to add a touch of color to the raw land. Not only do they look beautiful but they are also easy to maintain.
Final Thoughts
Making improvements to your developable land may require time and money. However, you can expect a great return on investment, find the right buyers faster, and sell your commercial property at a higher price. Hopefully, these tips will help you create a robust improvement plan that can boost the combined market value of your property.
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