Vacant land has some big advantages:
Wide open opportunity
One of the benefits of buying vacant land is the opportunity to create the highest and best use. Depending on the property and zoning, this may be building a home, using it for farming or ranching, camping on it, developing it for a specific use, or just holding it for future value.
Prices for vacant land, particularly for properties that are not in an already-booming area, are often low enough that buyers purchase with cash, or with financing lasting only a few years. With vacant land, you don’t wait to pay off a 30-year mortgage before taking title!
Very little maintenance
Many of the maintenance costs and headaches of buildings just don’t apply to vacant land. It can be left alone with little fear of vandalism or repair problems. And taxes on raw land are much lower.
Not only is the initial cost of raw land a fraction of the cost of land with structures, but taxes on bare land are much lower.
An investment that you can enjoy
Unlike many other investments, land is one that you can use and enjoy.
Land is permanent
Land is an asset and a long-term investment that you can pass down to your heirs.
As obvious as it may be, there is only a finite amount of land. Scarcity means opportunity.