With the world turned on its end, many investors are wondering just what to do with extra funds. The stock market is volatile, businesses are closing left and right, and the future is uncertain. At the same time, many amazing deals and low loan rates are available to qualified customers. Should you invest in land for sale in NJ? Oradell Realtor Sheldon Neal shares some industry tips.
Buying Land Versus Buying A Home in New Jersey
There are some key differences between buying land and buying a home in New Jersey. Properties with buildings or other features are often zoned differently and require different inspections than “raw” land, which means that your land purchase may be faster, easier, and smoother. However, the land is almost always designated for specific use by the local governing agencies, such as future residential space, future business space, or farm space, among many
other uses. Make sure you know what the plot of land for sale in Oradell can be used for in the future. Similarly, expect a longer-term investment with the land. While one could immediately rent out an investment property with a home built on it, land investors typically choose to wait until the land gains value, or may develop the land themselves. This brings us to our next point.
Determine Your Goal
Before contacting your trusted New Jersey Realtor, determine why you want to buy land in NJ in the first place. Do you want a future plot to build a family home on? A secluded place for camping weekends? Or are you into the possibility of flipping land for profit? Talk with your real estate agent for expert advice to make sure the plot of land you are interested in meets your needs.
Look for Opportunity
Once you know what your goals are, look for the best opportunities. Many real estate investors have profited greatly by finding land that is likely to be developed into homes for sale or even commercial real estate in Oradell NJ—after all, if a big community comes in, businesses are going to grow! This may require some research, but the best real estate agents in Bergen County can help advise.
These uncertain times may not seem like the best times for big decisions, but if you have a strong plan and a trusted Realtor, you can find amazing deals on the best homes and land for sale in NJ! Call today to find out what is available in the Oradell area.