As the New Year starts to move along, it’s a good time to think about your goals for the year ahead. And if one of your goals is to buy your own piece of recreational property, this is an excellent time to start the process.
We talk to many people who have been thinking about buying property for years, but are now realizing they need to make it happen. As an example, one of our recent buyers had been looking for a property for at least five years and realized now is a great time to buy.
Here are five reasons why it’s a good time to buy land:
- Buying now gives you the opportunity to use your property in the year ahead. Tired of hunting on your friends’ land? Worn out with driving back and forth when you could have a cabin to stay near your favorite recreation spots? By owning now, you can have a home base for hunting, hiking, boating or whatever you want to do.
- When the weather turns warmer this spring, you will be all set. No need to spend time looking at properties when the weather is beautiful. Do it now, so you have a sale finalized in time for the spring and summer. And if you plan to use the land for hunting, now is a good time to start improving a property’s appeal for wildlife, so it’s ready for the next hunting season.
- If you are planning to finance a property, mortgage rates are still low. Many experts expect interest rates to continue to rise in 2017, so getting a property loan now vs. later would be a smart move.
- If you have younger kids, take the opportunity to spend time outdoors with them now. Before you know it, they will be off on their own. Having a recreational property now gives you a spot to spend time with them – time they will remember the rest of their lives.
- In many areas around the country, land prices are increasing. Historically, land has proven to be a solid investment when compared to many other types of investments. And of course, the sooner you buy, the more time that property will have to appreciate.
Indeed, now is a good time to think about buying a tract of land that you could use for anything from hunting to hiking to just relaxing. Start online and then contact a local broker who is an expert in recreational land sales. You’ll be out enjoying your own land before the first flowers of spring bloom.
Written by Mark Knight, owner-broker with Davis DuBose Knight Forestry & Real Estate in Arkansas, part of the Potlatch Preferred Broker Network.
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