Residential plots generally appreciate in value over time, especially in well-located areas with growing populations. Land is a finite resource, and as demand for housing increases, so does the value of the land.
The marketing value of a property, often referred to as its market value, is the estimated price at which a property should sell in a competitive and open market, assuming that both the buyer .
Research the local real estate market to set a competitive and realistic price. Consider the property's condition, location, and recent comparable sales.Determine the target market for the property (e.g., first-time homebuyers, retirees, investors).
Determine how much you can afford to spend on a property. Consider your income, savings, and any loans you may need to take. Be realistic and factor in additional costs like property taxes, insurance, and maintenance.
Investing in land can be a valuable strategy for securing your financial future. Land is a tangible asset that can appreciate in value over time, provide potential income through various uses, and offer diversification in your investment portfolio.
