Having land is a part of the American dream. The topic of buying land is always filled with the risks and the benefits. The rise in property values, cities that are doing well in population growth, and the best time to buy or sell properties are always the top conversations. The state of Arizona as an investment option is no different.
When it comes to buying a finished home versus buying land that has nothing on it, it depends on where you are in your ability to invest. Both options require upkeep and a certain maintenance. To build is time-consuming and to purchase a home that is already built is to be leery about the home’s foundation and other construction issues. On the other hand, purchasing a home that is already built means that there is more information available to you to find out about the neighborhood and the surrounding communities. Buying land that is ready to be built on can seem like a big task, but this is an opportunity for the daring investor with a vision. Besides, the world will always be in need of land. Finding land for sale in Arizona might just be what you are after.
There are many reasons to buy land in Arizona and the time to do so is now. Let’s review some of the secrets of investing in Arizona.
The Heat Is On
The heat is on in the way of sellers interested in selling their lands. That means it is a buyer’s market. Certain areas are hotter to be sold, such as in Tuscon’s Foothills and the Dove Mountain areas. The more people that flock to an area, the sooner it will develop. It will take the investor’s eye in order to know which areas will grow sooner. The watchful investor could benefit greatly from making such early moves in land acquisition. Some areas to pay attention to in your research are Tucson, Prescott, and Flagstaff. These areas are to be observed in order to assess areas outside of those cities.
Investing is a Team Effort
Having the right people around you as an investor helps to make the goal come within reach sooner. The right team of people is filled with those who know the industry. The people may know specific information on the area you want to invest in. Using a land specialist may be a necessary step.
As an investor, you may know internally that a certain area is going to be a prime area at some point. You may not be certain if you want to build or what to build. The certainty that the land will be used is more of a factor. This is an investment in the future.
Buy low, then sell high is always the mantra of the investor. If an investor chooses not to build and to wait until the boom, then its best to choose land that does not cost a lot. This way the investment is low, as well as the upkeep and fees. Land will not have utilities nor a mortgage payment. Land will only have property taxes and property insurance. The two fees can be low.
Land is Limited
Land cannot be manufactured. It is a limited resource. As people expand onto land that is not built on, they will want to buy. This makes land a great investment. If you, as the investor, are holding the keys to land, then you are on the right side of investing.
Arizona has truly grown. It is no longer the future promise of retirement projects. The future of Arizona is now. Phoenix and Tucson have grown tremendously. Prescott has attracted retirees while Flagstaff has attracted a younger group. Yuma has attracted immigrants. Each demographic has different housing needs. This is the time for investors to jump in. These areas will spill over into their neighboring lands. The investor with vision knows that now is the time to buy land and start to either offer a suburban feel to those cities or to hold the land for later usage. The secrets of Arizona are in the land.