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Real Estate
The Real Estate Adviser |
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August 9, 2007
The Real Estate Adviser: Exercise care when investing in raw land
By TOM KELLY
Special to the Journal
Special to the Journal
While real estate typically is an excellent long-term investment, vacation-property buyers should be cautious when buying vacant land or raw land even if there clearly is marketable timber on the property.
Raw land or “raw ground” differs from vacant property. Vacant land or lots generally have all or most services, including sewers, water, access and power. Raw land does not have the services necessary for building and usually is a tract larger than a single-family lot. Depending upon location, the costs to turn raw land into ready-to-build site can easily surpass $80,000.
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Previous columns:
- The Real Estate Adviser: More than two homes? Time for a tax check, 08-02-2007
- The Real Estate Adviser: Can't arrange a 1031 exchange? Try a TIC, 07-26-2007
- the Real Estate Adviser: Wait until escrow closes before taking a vacation, 07-12-2007
- The Real Estate Adviser: Adverse possession may mar your getaway, 07-05-2007
- The Real Estate Adviser: One man helped many to see senior housing niche, 06-28-2007
- The Real Estate Adviser: Lots to learn about the over-55 homebuyers, 06-21-2007
- The Real Estate Adviser: Father's Day brings up summer lake memories, 06-14-2007
- The Real Estate Adviser: Keeping home equity loans all in the family, 06-07-2007