Thinking about what to invest in, in Chicago? Well vacant land is a compelling opportunity right now. Read on and make that decision that will change your life. Invest in vacant land in Chicago.
Most real estate investors will suggest investing in housing. However, that’s not the only way to invest! There are many different viable investments, including commercial property, multi-family properties , and even vacant land!
Vacant land is one of the most sought after investment opportunities right now. Here are 4 reasons why investing in vacant land in Chicago might be a viable option.
Understanding Why Investing In Vacant Land In Chicago is a Solid Option.
Reason #1. Real estate prices tend to rise
No one is making more land, yet there are continuously more developments. Thus, the price of real estate tends to go up. (Of course, there will be price flux in the short-term but over the long-term, prices tend to rise.) Historically real estate investment in land has provided a positive return.
Reason #2. Multiple exit plans
Investing in a rental property or vacation property gives you just one way to make money – rental income! But when you invest in vacant land, you can sell it, rent it, develop it and rent it, develop it and sell it… and more! The sky’s the limit, which means you have more ways to create a positive return.
Reason #3. Popular growth
Population booms have significant impact on development areas. Some of this growth is from people moving from one area to another, and a lot of this growth is from babies being born. New comers to a community will want houses, so will the families with babies… and someday those babies will grow up and want homes of their own! Owning vacant land positions you to financially gain from population growth.
Reason #4. Market fluctuations
You might be reading this and wondering how the market is performing and whether this is the right time to make your investment. Please remember this: all markets are different and local markets don’t necessarily follow the national economy. Besides, markets may go up and down but over time economies tend to rise. Therefore, if you buy during a market decline, that’s great because you bought low and you can wait to sell high; or, if you buy during a market rise, that’s great too because you have many ways to add even more value during a period of increased demand.
From residential to commercial to vacation properties – there are many compelling investment opportunities but these are 4 reasons why investing in vacant land in Chicago might be a viable option for you.