Rolling hills, deep ravines, stunning blue lakes and starry skies — how do you put a price on your land? Whether you’re considering selling your acreage or just want to know how much it’s worth, the easiest strategy is usually to hire a real estate appraiser.
An appraiser will visit your property and look for specific qualities such as size, ease of access and any natural resources that increase its value. Here’s what they usually look for, plus a few ways to make your land more appealing to buyers.
Features That Add Value
An appraiser typically looks for these features when they evaluate your land:
Easy Access
From time to time, you might see a rural tract of land for sale that seems too good to be true — it’s large, fenced in and even has a well. The catch? You must traverse a muddy, washboard road stretching for miles to reach it. If it’s raining and you don’t have a four-wheel drive vehicle, forget about it.
Properties with easy access to the highway are more valuable than acreage farther away or even landlocked. If your land has a good road, that adds value as well. The best routes are relatively short, wide, paved and on a level grade. Other factors to consider are whether the main roadway to your property is public or private, if you have to maintain it yourself and if people can legally access it.
Utilities and Infrastructure
Buyers looking for a home in the city don’t have to ask whether the property has electricity — it’s practically a given. However, rural properties run the gamut from highly polished to completely untouched, and buyers might look for different levels of development.
Your property will be worth more if it includes a house or cabin, even if the buildings aren’t fully roughed in. Other factors that increase its value include:
- Internet and cell service: People looking for a truly off-grid experience might not mind the lack of cellphone coverage or Wi-Fi, but most will appreciate getting a signal.
- A water catchment system: This setup is a huge plus for properties in the desert or that lack plumbing.
- A septic system: Buildings connected to a septic system typically have lower taxes because municipalities only bill people connected to the public sewer. However, a septic system that breaks can be costly to repair.
- A well: Having a private water source helps people lower their water bills, and a well can increase your property value. However, they require regular maintenance, water testing and electricity to keep them running smoothly.
- Heating: Rural homeowners typically utilize oil, propane, electricity or wood combustion stoves to heat their buildings. Natural gas usually isn’t an option in the country. Buyers will probably be more interested in properties that already have heating systems.
Good Proximity and Privacy
People looking for rural land usually place a high emphasis on privacy. If your property…