When it comes to uses for vacant land, residential and commercial properties are probably the most common answers. But there are several different uses for vacant land that most people are unaware of. Continue reading to find out what they are and how they could benefit you as a homeowner, property developer, or investor.
1. A community garden
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A community garden is a great option for small or awkward-sized plots of land. They benefit the entire community and require little to no commitment or management on your part. You must, however, obtain the relevant permission from your local council or government official before you get stuck in. Once you get given the go-ahead, advertise within your local community or enlist the help of friends or family members to join in with the movement and get involved. A community garden can be self-funded, but you can also ask members to chip in regularly to raise funds to purchase the seeds, plants, and tools required for your garden to flourish.
2. A wildlife preservation
One of the best ways to preserve land is to transform it into wildlife preservation. If you have purchased the land, you have the right to protect it in any way you desire. You can also erect a series of signs to inform others of the status of the land and that they are prohibited from hunting, camping, logging, and fishing within a designated space. You can even revert a portion of the land to its natural state and occupy the remaining land as a hiking trail or park. By purchasing tanah untuk dijual in Malaysia or elsewhere, you can benefit the local wildlife population and their surrounding environment.
Farmland can be a great little money maker. Depending on where you live, you can stand to increase your net worth by a considerable amount by leasing to a farmer or agricultural real estate broker. Whether or not your land is suitable for farming, however, depends on several key factors. These include property size, soil type, local climate, and current use. If your land ticks all of these boxes, this is definitely an avenue worth exploring in further detail. You must get a second opinion from an expert in the agricultural industry and receive several quotes before making an informed decision.
4. Solar energy
Solar energy is energy obtained from the sun. As with wind energy, there are several geographical locations dotted around the globe that are prime sites for taking advantage of the limitless potential of solar energy. It remains a relatively modern energy source, but you can almost always generate a significant return on your investment with energy consistently in demand. There are several different ways you can repurpose vacant land for solar energy. For example, installing solar panels can provide enough energy to power a single residential property or small community to an entire power plant. You may even consider leasing your land to a power company or energy conglomerate. If your land is in demand or is located within the perimeters of a prime energy hotspot, you can end up netting a relatively large sum of money.
5. A golf course
Golf is a popular sport around the world. By developing your land into a golf course, you can make a significant return on your investment in little to no time at all. However, it is worth noting that this is one of the most expensive ways to repurpose vacant land. The final cost depends on several factors, but the design and construction costs involved in developing a golf course can reach millions. By designing and installing a golf course in an area lacking in recreational activities or a location famous for its golfing capabilities, you can end up investing in a hugely profitable business. You must own a relatively large plot and have access to a great deal of funding before you can transform vacant land into a golf course.
6. A landfill
When deciding how to repurpose unused land, a landfill is probably one of the last applications that spring to mind for environmental landowners. But by monitoring supply and demand, you can provide a service that is not only currently sought after but will be required for a prolonged period of time. There is no denying the fact that every household produces trash. By capitalizing on an essential service, you can stand to make millions in little to no time at all.
Vacant land can be repurposed for much more than just residential or commercial properties. It can also be of great use for a community garden, wildlife preservation, farming, solar energy, a golf course, and a landfill.
Featured Photo by Tim Umphreys on Unsplash