Should you buy Land in 2022?
Investing in land is often overlooked. It is perceived as the more “boring” sub-category of real estate investing. You’ll certainly find more shows on television showing the exciting world of house flipping or being a landlord. However, investing in land deserves a closer look. Here at Legacy Farm Group, we think it’s a great option for investing, and definitely not as boring as you might think.
Land is a finite resource.
If you hang around land people, you’ll hear them say, “Buy land, they aren’t making more of it.” This is true, but it is also true that land is by no means running out yet. If there is any scarcity when it comes to real estate, it is the scarcity of land that is desirable. A square foot of land in downtown Nashville, TN probably costs more, and is harder to get your hands on, than a square acre in rural Tennessee. As populations increase and cities expand, land that was once dirt cheap begins to rise in value as it becomes desirable.
Society as we know it is changing.
Historically, people have crowded into cities because that is where jobs, opportunities, and resources are located. We are seeing people bucking these trends as more and more jobs go online and become location-independent. People want to escape the rat race, and long commutes, to live off-grid, to be more self-sufficient, and to enjoy the outdoors.
What does this mean for Land in 2022?
The combination of these two factors will change investing in land in the coming years and will have a profound effect on the value of land generally. Land has always had the characteristic of steadily increasing in value and being a great hedge against inflation. As more land becomes desirable, particularly land outside of cities and already-developed areas, land investors have an opportunity to capitalize on the trends.
How can you benefit from buying land in Tennessee in 2022?
For individuals who are part of the trend of moving out of, and away from, big cities, you can benefit today by being able to purchase land at still affordable prices in Tennessee. In the worst case, you will benefit from the steady increase in land values, as the likelihood of losing money on a land purchase remains low. In the best case, you’ll benefit from any value that you add to the land. From bringing utilities to the land, building a house on the land, or opening up new areas for development, you’ll see your land value increasing more quickly.
Speak to a Specialist Now!
Our land sales specialists have extensive market knowledge and see trends developing firsthand. Talk to one of our land specialists for information on interesting locations and affordable markets!
It is possible to find land that meets your needs and requirements in the short term, but which can also be a profitable investment over the long term. They might not be making shows on TV about land investing as they do about house flipping and being a landlord, but the mechanics of how things work are the same.
The big benefit of “boring” investments in land, is being able to stop and smell the flowers along the way, and to enjoy the peace and quiet of the countryside while accumulating wealth!
We think it’s a great idea to buy land in Tennessee, and we’d love to be on your team!