Investing in Recreational Real Estate: Tips for Investing in Hunting Land
We continue our series of looking at the rural real estate markets. This week we look at why investing in hunting land, specifically Ohio, West Virginia, and Pennsylvania makes sense.
Property is a great thing to invest in, especially if you can also use your investment for recreation and relaxation. Purchasing raw land fits this bill and it allows you the possibility of making serious profits when you decide to sell the property. Let’s explore some tips that any prospective buyer of raw land should keep in mind especially if they have ideas or plans for recreational activities such as hunting, camping, etc.
The first step in any real-estate deal is finding the piece of property that is right for you. This step is simple, yet it can also be the hardest, because it requires patience and diligence. Keep your eyes peeled for property listings, and visit a lot of different sites so that you will know when you find the piece of land that is right for you. While waiting to find the perfect piece of land be sure to save your money for a down payment and to get pre-approved for financing, unless you don’t plan to use this tool. This way you will have all of your ducks in a row and be ready to act when the property you like comes on the market.
Be Ready For Work as Well as Play
Property is a great investment because it generally appreciates over time, however if you really want to make above average returns on your property than you are going to have to make improvements to the land. Avid hunters are going to want mold their piece of land to be as hospitable to the game they are trying to hunt. If you want to primarily hunt ducks, it is important to selectively choose spots to cut away the timber to open holes and natural breaks in the trees, you are going to want put a few small ponds on the property, and install a levee system. In some places deer hunting land will sell for cheaper than land designed with duck hunting in mind. Also, knowing the type of game you wish to hunt will help you in the purchasing phase of the process to find the best piece of land available.
Other improvements that you can make to the land, like adding a dirt track for ATV riding, clearing out a space for campers, etc will also greatly increase the value of your property, and will add enjoyment to your recreational patch of land.
Land improvement is a long-term play for investors. You aren’t going to attract ducks overnight just because you created some ponds, or have above average bucks on your land just because you planted a few food plots. You have to give these things time to naturally happen, but the good news is that you can fully enjoy your property and all the game while it appreciates over time.
Keep a Clear Head
When you have put a lot of time, work, and sweat into a property it is easy to get attached to it and you may eventually decide that you really don’t want to sell it and that is fine. However, if you do decide to sell your property and move on from it, it is important to take your emotions out of the equation and simply look at the land as a business asset. No buyer is going to care that you spent five years working the land, or that it was where your child bagged their first buck. If you let your emotions run the show, you may end up pricing the property too high and ultimately fail to sell it or receive offers that are too low.
Recreational land is a great investment not only for those who love the outdoors, but also people who want to improve property for future sale.
These are just a couple ideas that we have seen turn property into a recreational paradise. There are many other ideas, implement some or all of them and see if they don’t contribute to additional enjoyment. If you have other items you’ve done to create your personal recreational paradise, feel free to share them and we’ll add a follow-up post with additional details.
Don’t have your own hunting land, check out these upcoming auctions.
At Kaufman Realty & Auctions, we enjoy providing Pro-Tips and insights for real estate owners in Ohio, West Virginia and Western Pennsylvania. Properly cared for hunting land can be an excellent investment as well as provide enjoyment that goes far beyond dollars and cents. If you have questions about what is best for you real estate please contact us.
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