COVID 19: How the Pandemic Has Impacted the Value of Land.
Owning land has always been a dream for many people. Some people buy land for a sense of freedom, to have something of their own, as an investment, to create more opportunities, and more. Searching for land for sale and potentially purchasing a plot of land can be very overwhelming. The land buying process is actually much simpler than people think. Investing in land is a great opportunity for anyone. Land value will generally increase overtime, and no one is making anymore of it! If you have been thinking about buying land, then you should jump on the opportunity.
Everyone can agree that the last two years have been…well, interesting, but also devastating in many ways. The COVID-19 pandemic shook our world in different ways and while we are not at the end of it, we have learned a lot. Unfortunately, not only was our physical and mental health affected by the virus, but so was our economy. So many people lost their jobs, their homes, and their loves ones. The pandemic has been nothing short of traumatic, but we have continued to stick together in the best way we can and learn how we can adapt through the hardships.
Positivity is something that always peeks through challenges and comes out shining. One positive aspect of this pandemic is that investing in land has only become a greater opportunity. Although the real estate market took its hardest hit since the 2008 recession, land for sale is becoming more popular for different reasons. The market said, “we can only go up from here!” If you are wondering if buying land is a good investment, the short answer is absolutely.
Demand for Land
As time goes on, we are reminded that land is resource that we cannot make anymore of. The demand for land grows each day. With that being said, we can assume that as the demand gets higher, so will the prices. While that may be the case, there are plenty of places to find cheap land for sale.
Believe it or not, the COVID-19 pandemic has actually increased the demand for land. Many people want something of their own that can’t be taken away from them. Investing in land is less risky than investing your money into something else, like stocks. Despite the situation with the virus and its negative impact, land value is consistently going up as time goes on.
Of course, the demand for land changes based on location and the prices depend on what is taking place in that specific location. If you are looking for land in a booming city, it is going to be pricier than land in a quieter, secluded spot.
Which Types of Land Are Most Popular Right Now?
If you read our article about the different types of land use, then you know there are five categories of land use: agricultural, commercial, recreation, residential, and transportation. The pandemic has impacted which land uses are becoming more popular for land buyers.
During this period with the virus and many businesses shutting down, commercial land is taking a hit. Commercial land is not as popular as it used to be strictly because of the COVID-19 pandemic. This type of land is less in demand at the moment because of lockdowns and business closures. Commercial land may become more popular in the future, but right now things like retail stores are not in demand like they used to be. There is a way to stay positive especially if you have a commercial piece of land where your original plan will no longer work. Storage units are more popular than retail stores right now, so you can always create another opportunity. The factory you had originally planned for can be transformed into a hotel. Silver lining!
Residential land has been more popular throughout the pandemic because the need for more affordable housing is going up. People also want to take advantage of the lower mortgage rates. Although the prices are going up for residential land, our average household income continues to rise.
Recreational land is also becoming more popular throughout the pandemic because this land creates more opportunities for things like community gardens and parks. COVID-19 has taken a lot from people and having a place to create and share a community garden with farm-to-table foods has the potential to bring a lot of joy.
Agricultural land is booming from the pandemic. Loss of jobs has resulted in more “land-based family jobs.” Agricultural land is a great source of income which has become more and more clear as the pandemic completely rattled agricultural supply chain. Growing crops and raising livestock is a great opportunity not just for personal reasons, but also for the economy.
Land is something that you can pass down from one generation to another. It provides a place to live, a source of income, and a place of security. Owning land provides you with a variety of great opportunities.
The Pandemic Has Created Buzz Around Prepping
As we faced the hardships that came with the virus, prepping has become a more popular topic amongst the population of landowners. We can all agree that the world was far from prepared for this pandemic and it has led to a lot of buzz around the idea of prepping. Maybe not for a zombie apocalypse, but a prepping for a pandemic is starting to sound like something everyone should consider.
Buying land is an awesome way to get started on prepping. It gives you a place of your own, a place to escape away from others. Vacant land is a great opportunity to own something off-grid that you can develop into a safe space for you and your family. When it comes to prepping, safety, immediate resources, and long-term sustainable resources are what come to mind. What better way to be prepared for a pandemic!
We remember going into the grocery store for paper products and Clorox wipes like it was yesterday. The shelves were wiped clean, and the world was in panic mode. Preppers had a peace of mind during that time and they shared some tips for everyone.
Vacant Land for Sale
Now that we have talked about how the COVID-19 crisis has impacted the value of land, we want to remind you that vacant land is a wonderful investment opportunity for anyone. It is a simple process for everyday people who want a place to call their own and a sense of security. While all types of land are great, vacant land is land in its most natural state without any developments on it. You can start from scratch and create something unique to you.
Discount Lots provides everyday people the opportunity to own vacant land. You don’t have to be an investor or a developer to own land. Anyone can fulfill their dream of owning land, especially with our easy land buying process. We spoke about land being an intergenerational asset, get the gift that keeps on giving generation after generation. If this is something you have been hoping for, your vacant land team is here to help turn it into a reality.
Looking for Vacant Land?
Discount Lots has affordable land for sale across the country.
SEARCH FOR LAND
Ready to find a piece of land to call your own? Use our interactive map to search available properties!