UNDEVELOPED
There
is some mountain property that has been passed down
through several family generations. And now with
the value of real estate so high, the owners have
decided to sell off some of their land.
This
type of land is most often vacant and undeveloped.
While some of it is absolutely gorgeous, it may or
may not be a wise investment. If the location is
too remote, it may sit for years and gain little
or no value.
Vacant
undeveloped land generally has a very attractive
and seductive price. However there may not be any
road access, any electricity or phone lines, and
it may also get so much snow that access becomes
unlikely.
On
the other hand, there is some vacant undeveloped
real estate that is a real good deal even with the
added extra costs to make it useable.
You
should seriously think about what you really want
your mountain property for, BEFORE you even look
at any.
|
DEVELOPED
Vacant
land that has now, or will have soon, road access,
electricity, phone lines, and possibly other utilities
can be considered developed.
Vacant
developed land is often a bit more costly than undeveloped
land. That extra cost can easily be offset by the
potential increase in value over time.
When
it comes to investment, it is much safer to purchase
this type of lot. Lenders are also more likely to
loan money for the purchase of a developed lot.
However,
like all real estate, location is the key factor
and should be given its due consideration. |
