There are many things that go into buying that perfect piece of land for your awesome glamping setup. These outline some of the most crucial aspects, of easy-to-digest bites.
What does your land look like? 🤔
Decide how much money you can spend on this investment. Plan for 50-50 land purchase cost and land improvement and other charges. This might appear too much. But it prepares you for exigencies that might crop up a post or during the land purchase. It might be extremely unwise to assume land purchase is going to be your only expense while buying land for setting up a glamping business.
What does it look, feel and taste like? 🏞
Knowledge is power. Know what is your ideal piece of land. Your ideal land avatar. What does it look like on the map? How far is it from the nearest hospital, grocery shop, fire station, or non-dirt road? Is it flat or not? How many trees does it have (or even how are they spaced on the land). Does it come with a boundary wall? Does it need a 4-wheel drive to get to it? Draw up a brief 3-4 line summary of what you want your land to be.
Money money money 💸
Get your finance in order. If you can get most of it in cash, great! Or else learn about what finance is available to you to invest in a glamp site business? Haggle for the best rates. Find out everything there is to know. Learn about cash-out refinancing. What you think you need to know about the money aspect of this purchase, you learn.
Search, learn, look, rinse and repeat
Search 🔎
Search online. There are a lot of great listings out there on popular sites. Call agents to find out more about the region or county. Talk to more than one agent. Get to know as much as you can from these calls. As you communicate with more and more people, you start to form a picture of the neighborhood where this land sits. You take notes and ask questions. Do as much research as you can on these calls.
Learn 📖
Learn from others who might have purchased in the vicinity of the region. Visit forums or bulletin or discussion boards that have these buyers. Many buyers hunt for good deals on these forums. They linger post-sale looking for more opportunities. These users know more about the area than others. It’s best to chat them up on the platform to glean more information about land purchase and the type of land available in the area.
Look 👀
Identify properties that interest you. Find out what may be the best price for that kind of land based on what is available around it. Look at past sales and future forecasts. This data is already available in many of these sites. Your goal is to avoid overpaying for these properties.
Armed with all this information, now is the time to get driving. If you stay far away from these sites, schedule multiple site visits at once so you can batch them up. In a day, try to cover as many as you can. This not only saves you travel time, and money but also provides a good view of the surrounding area.
Rinse and repeat 🔁
You ought to visit at least 20-35 properties before you make a deal. This may vary based on how many sites are available for sale in your favorite region, your budget, and other parameters.
When looking at land for purchase, there are a few parameters to consider. Check out this article for more on that. If a piece of land meets all your criteria, then make an offer.
Conclusion
Don’t be rushed or bullied into making a higher offer than you feel you want to pay. A couple of thousands here and it is still ok. A big jump is usually indicative of a missing piece in your knowledge or not thorough research or just a bad deal.
