Three land improvements savvy landowners can make to get more money before it is time to sell
Please don’t leave a single dollar on the table when it comes time to sell your land. Here are three improvements savvy landowners can make to increase their properties’ value.
I know that I can sell any piece of land throughout our valley, the way it sits right now, with little to no improvements in today’s marketplace. Many local builders, individual buyers, and big developers are actively looking for investment opportunities around the Wenatchee area. But with a few key improvements, you can increase the value of your land, and you won’t leave any money on the table when it comes time to sell. I know some landowners think it will cost a lot of money to improve their land. And they think it’s going to take a lot of time, or they’re worried that they’re not going to get their money back. But have no fear because with these three improvements you’re going to get your money back and a whole lot more.
Improve access to the property
Make the property build-ready
Get the entitlements in place for the property
Number one, improve access to your property. This means improving the driveway or the road and clearing the property of debris or anything that adds clutter. You want a first impression that makes a statement, and you also want them to be able to get their Audi, Porsche, or Tesla right to the building site with ease. Many of our buyers are coming from out of town these days, and they might not have a big 4×4 truck, so make it friendly and easy for the potential buyers.
Number two, make it build-ready. This means bringing in utilities like water, electricity, and maybe natural gas close to the site. Also, get the septic design in place or the sewer ready. Leveling out the best building site is also a good idea. These improvements will require some capital, but there’s going to be a good return on your investment when it comes time to sell.
And the third way you can maximize the value and not leave any money on the table is to get the entitlements for the property. Getting it ready for a developer is a sure-fire way to get the maximum payout. A developer doesn’t want to buy a piece of property and spend the next six months to a year getting it ready for the plat of subdivision. So what you can do is start the process of subdividing for them. For instance, we’re helping a client right now that wants to begin the process of subdividing a 10-acre parcel into 17 individual lots. Keep in mind that they are not going to develop it, they’re just getting it ready, and then we’re going to sell it to a developer. By getting the entitlements in place, they will make five times more money when it’s time to sell.
For landowners that have questions or want to know:
Is it worth their time, energy, and money to improve the land?
How much will it cost?
How much is it going to increase the value of your property when you go to sell?
Reach out to us, and we are happy to answer any questions you may have.
Google ‘Nick McLean Real Estate’ to get a free home valuation or find our website and search all active homes on the MLS.
Or text us your parcel number 509-670-1071
Nick McLean Real Estate Group