It may seem unlikely, but vacant land is a potentially lucrative moneymaker if it is used correctly. Whether you have received an unexpected inheritance, splashed the cash on your own kingdom, or have simply found yourself with land to spare, this may be an unexpected source of income if you are smart about how you use the space. Read on for our top tips to start earning some cash today!
Use The Timber
If your land is heavily forested, it may be possible for you to make money from timber. This choice is a long-term option which allows you to make some steady cash year after year. Once the wood is ready to be harvested, you can sell it off to interested parties, as well as using it yourself for fuel. Remember that it can take a while for wood to mature enough for harvest—anywhere from 7 to 50 years depending on the type of tree.
Start A Campground
If your land is located in an area of natural beauty, close to a tourist destination, or anywhere popular with walkers and hikers, it could be the perfect location for a campground.
As society grows busier and increasingly hectic, more and more people are choosing to get away from it all on their vacations, travelling to the great outdoors and getting back to nature. This option could turn into a potentially lucrative gig for you. You can accept money in return for allowing people to camp on your land. You may need insurance for groups over a certain size and to protect yourself from liability, but to get started, you only need the space.
Investing in the equestrian world is often very profitable. Horse ownership is popular, but few people have space and facilities to house and keep their animals on their land. There is a range of choices here. You can allow riders access to your property in exchange for a fee, or you can go the whole way by setting up stables, paddocks and riding schools, and starting a school or livery yard. Depending on your experience, this can range from a few extra dollars pocket money to a full business venture—a good investment on otherwise empty land!
Live Off The Land
Another option is cultivation to produce crops and goods. The scale of this will vary depending on the amount of land you have available but could range from vegetables to feed you and your family to a larger allotment set up, charging interested parties to rent a space of their own. Whether you are naturally green-fingered or just starting, do your research and learn how to transform the space into a practical, functional garden. The produce can then be sold for a profit.
Sell The Land
If all else fails, remember that there is value in land. Property developers are always on the lookout for lucrative patches, and this could net you a very high price if you are located in a desirable area.
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