There are several reasons you may want to buy land; it could be for business purposes like farming or ranching, or to build a home for your family or somewhere to spend your golden days. Regardless of the reason for buying land, the size of the land you want or need will matter not just due to the purpose of the land but mostly because the bigger the land, the more you’ll empty your pockets. That’s why it’s important to know a thing or two about buying land in the U.S so that you not only get the land that suits you best but you also spend wisely.
The U.S Department of Agriculture reports that ranching and farming take up the majority of land use in the country. Most people would think it is urbanization but think about it; compare the size of the land of the latest estate property you’ve seen to the size of the land used for farming. I bet you’ve noticed that farming takes up far much more land compared to real estate and other social amenities for urbanization.
In the U.S, land is measured in acres. The best comparison of the size of an acre I can come up with is the classic football field. An acre is roughly equivalent to three quarters (3/4) of a football field. You may be familiar with other measurements for measuring land like square foot, especially if you deal with small areas of land like in gardening or DIY projects. In such a case, it is natural to wonder how many square feet in an acre. The answer is 43560. You can see that an acre is massive and that’s why it’s the ideal measurement for dealing with large masses of land like farms or ranches. Nevertheless, don’t bother yourself with converting square feet to acres or vice versa as there are online calculators that can do that for you.
Getting land in the U.S is relatively easy if you have the right papers and resources. Surprisingly, even foreigners can get land here, as investors. The minimum investment for foreign investors is $500, 000 and it has to be an investment that generates revenue for the nation. Of course, a Visa is a must albeit, as usual, it may take time to acquire one due to the anti-terrorist prevention measures that a foreigner has to deal with before being allowed to influence the country in any way, manner, or form.
Whether you are a foreigner or a citizen, where you buy your land matters. According to Investopedia, some of the best states for retirees are Tennessee, Arkansas, West Virginia, New Mexico, and Arizona. These states contain beautiful attractions for visiting when you are not in a hurry and land is surprisingly affordable. They are beautiful and an ideal location for anyone looking for a place to enjoy some peace and quiet. The state you choose to buy your land will determine how affordable that land will be as well as how well the land suits whatever you want to do with it. For instance, chances are that you will avoid getting land from Alaska because the weather and environment may not be favorable for your business unless your business thrives in winter.
If you are a foreigner with the intention to acquire land as an investor, your best option is to engage in farming or ranching once you get your Visa and alternative documentation. It is important to the IRS that your business is beneficial to the country or else, your ties to the country will be severed. Citizens don’t have much to worry about apart from ensuring that they acquire land that’s worth their money. As a citizen, you want to consider the price per acre of the land you want to buy, the place the land is located, as well as its surroundings. Some lands will be cheap because they are in the desert or somewhere very few people would like to go. If you want to buy cheap, don’t just buy because it is cheap, but find out why it is cheap and determine whether the reason is something you can live with. Otherwise, if the price and size are right, I think you need not look any further.
Owning land is one of the most important achievements in life. My grandfather told me that once I own a piece of land, I should never sell it unless it is for a bigger piece of land. You can even buy a cheap piece of land and resell it at a higher value. Real estate is one of the oldest and surest forms of wealth. Once you have yourself a piece of land or your next piece of land, you want to invest wisely.