Business Ideas For Spare Land: How To Create A Profitable Asset
Land is a valuable asset, and if you are looking to create something profitable, land is always a good place to start. If you have acquired a plot of land and are looking for the best ways to utilize it to generate an income or for investment purposes, read on to find out some of the things that you can do with it.
Hold on to it and sell it in the future
One of the most simple things that you can do is to hold on to the land, keep it well maintained by a woodland management service, and sell it on in the future – hopefully for a profit. The investment return can be high, but you also need to understand how the land in your area appreciates – and depreciates. Land can also be cleared, leveled, and prepared for building, all of which may significantly increase the value of the land.
Boat or RV storage
Boats and RVs can take up a lot of space, and many owners do not have the room to keep them on their own property. All you need is a little bit of vacant land with some security elements, and you can make a decent income from storing them. Boat storage, in particular, is lucrative if you are near a body of water. The owners will leave their boats there through the winter and pick them up in the summer to take to the water.
If your land is in a quiet, rural area, people will happily pay to come and pitch a tent or RV on your site. Staycations are becoming the new big thing, with people opting to stay at home to avoid the hassle and expense of organizing flights. Keep it as basic and close to nature as you want, or add in some electricity hookup points and shower and toilet facilities and charge people for the privilege. Some sites charge around $20-25 per person per night – in the summer season, you can make a tremendous amount of money.
More and more people are looking for sustainable energy to power their homes and businesses, which has led to a rise in the use of solar power. You can create your own solar farm in two ways; firstly, you could install your own panels and sell the energy that you produce to the energy providers. The alternative is to rent the land out to a company that wants to install solar panels on your land. Both work well and can be very lucrative. You will also be doing your bit for the planet.
If your land is near a high traffic area, you could consider placing a billboard on your property and rent it out. Businesses will pay good money every month to rent the space if it is in a prime location.
Developing land is a costly venture, but there can be a lot of money in it.