One of the most commonly referenced elements of the American dream is that of homeownership. Another often cited part of that dream is expanding upon homeownership with the accumulation of land and other assets. Land is particularly popular as an asset because of how it retains its value. To own land is to own security. For some people on a budget, owning land may seem impossible, but it can be more affordable than some may realize. There are a few simple ways you can find land for sale that's affordable for your situation.
Go to County Property Tax Sales
People not familiar with local real estate may not realize that their county and nearby counties have property tax sales every year. These tax sales are essentially auctions. The properties are auctioned off with the starting bid being the taxes owed on the property that wasn't paid by the owner. Depending on the interest in a particular property, as well as the attendance of local people interested in bidding, the price could remain really low in some cases. This can give you an opportunity to buy a property at a price that is much lower than its actual value. Many investors have built wealth with real estate buy purchasing land through these tax sales.
Check Online Auctions for Deals
There are numerous auction sites online that allow people to offer real estate for sale. There is a good chance you can find land for sale in your state, as well as in your part of the state. While some of the online auctions that allow people to auction land for sale have minimum bids, the prices on some of these lots are very low. Some of the land may be in obscure areas, which may be why it's very cheap, but that doesn't mean it can't be a good investment. Always do your research before bidding on any land online, which should include talking to a local real estate agent about any land that's in an area that you don't know much about. Be aware that some online auctions have listings where the auction is actually for the down payment, so look at the fine print of the auction listing before bidding to see what the actual terms are.
Look for Seller Financing Opportunities
When it comes to homes, most people are likely to hire a real estate agent to help them sell. This is less likely with land. Many people sell their land on their own, which gives buyers the opportunity to negotiate seller financing. When it comes to seller financing and land, you can negotiate terms that work within your budget. Many people are able to put a small amount down and make small payments as low as a car payment. It may take time to find the right property and the right seller to get a property where you can negotiate seller financing that will work for you, but it's worth the effort if you find the right opportunity that works for your budget.
Owning land isn't only for the rich. It's something that people with all sorts of budgets can do. County tax sales, online auctions, and seller financing opportunities are a great place to start if you are ready to start looking at land for sale.