Found a vacant lot in a really nice area with the median home value of 1,000,000$ it’s 40k but it’s a literal forest. Zero utilities but I have the means to deforest it since I have a skid loader. Would clearing the land and adding utilities make the land worth a lot more? For instance if it’s 40k and I put 20k in it would it make the property significant more?
Never invested in land before so sorry if it’s an absurd question.
Posted by sonic72391
2 Comments
Definitely possible but check the zoning first – some places are forests for a reason and won’t let you build anything anyway. Also get soil tests done before you drop 20k on utilities, you don’t want to find out it’s all wetlands or has some weird contamination issue after you’ve already cleared it
Probably some other reason it’s cheap, an easement, something that prevents utilities from being connected, massive tax lien, brownfield.