Invaluable Information for Recreational Land Buyers Part 2
In part one of our article, we share the benefits of buying recreational land and gave you a bit of insight as to where to find recreational land in North Florida. In this second part, we’ll talk about valuing recreational land and the risks associated with owning this type of land. We’ll also tell you where you can possibly buy land for sale in Central Florida.
Valuing Recreational Land
When valuing recreational land, it’s important to evaluate the factors that will increase the value of the land you buy. For example:
- Are there dry uplands on the property?
- Is the land close to a city?
- Are there lots of water sources (i.e., lakes, streams)?
- Can the land be used in multiple ways (i.e., selling lots that have road frontage)?
- Can cattle be raised on the land?
GIS mapping and other tools allow recreational property buyers to get a good start on weighing out their options to make a buying decision. With online mapping functions, buyers can assess a property before ever setting foot on it.
Risks of Owning Recreational Land
For the purposes of this article, we’ll tie in the risk of owning rural land since this is they type of land many buyers choose as recreational land. Owning land doesn’t come risk-free; however, undeveloped rural land has a much lower level of risk than other land investments. You must still keep potential risks in mind such as wildfires damaging timber, flooding damaging topsoil and nutrients, and drought which puts a strain on water resources and can destroy crops. What you use your land for and the inherent risks go hand in hand. Naturally, if you aren’t growing crops, you won’t have to worry about them being destroyed, for example.
On the other hand, you must also protect yourself from liability (you have a duty of care) if someone were to trespass your land or if you happen to be running an event where the public is allowed to partake.
Where to Find Land in Central Florida
You will typically find more land buying opportunities in rural counties with a smaller population. You also want to make sure that you buy land within a couple of hours from the nearest metropolitan area. Ideal areas to locate recreational land for sale in Central Florida include Sumter, Lake, Osceola, and Hardee counties, among others.