Land is a rewarding investment that requires little maintenance. Sonoma County, with its vineyards and farmland, is a great choice for investors who want to acquire parcels of land. Here’s what you need to know about buying vacant lots in Sonoma County.
Lands for Sale in in Santa Rosa, CA
What you should consider:
Here are some questions to ask before buying land in Sonoma County:
What can be built on the land?
Though zoning requirements can impose restrictions on what can be developed on a specific plot of land, you can build a variety of buildings and structures on your new acquisition. These include:
- Single-family homes
- Multi-family properties
- Office space
- Retail space
- Mixed-use development
- Strip malls
- Parking lots
What are your goals?
Before acquiring a piece of land, you have to determine what your goal is for buying it. Would you like to sell the land as is to another investor, or would you like to develop it? Two investors could have very different approaches to the same parcel. There are certain strategies you can take into consideration, and there is no one-size-fits-all solution to it.
What is your strategy?
You can choose from several strategies, including:
- Buy and sell – You can flip the land by buying it below market value, then selling it at a price that is either the same or higher than its market value. This strategy ideally leads to a quick sale where you do little or no additional work on the land.
- Buy and hold – You can buy land then hold into it for a certain period of time, letting it appreciate in value before selling it to a developer. Keep in mind that you’ll be paying taxes during this time, and you might have to spend additional costs on maintenance.
- Buy, develop, then hold –This approach has you buying land with the intention of developing it yourself. For example, you can secure land and build some townhouses on the property, or erect a strip mall, which you can rent out to tenants. Building a bed and breakfast that you can run and manage is also an option.
- Buy, cultivate, then hold – In this approach, investors are more interested in using the land than developing it. For example, you can grow crops, use it for grazing livestock, or turn it into a vineyard.
Land for sale Sonoma County
Buyers will find an excellent selection of vacant lots in Sonoma County. When buying land in the county, be sure to check beforehand if the parcel has been zoned for single-family homes or whatever structure it is you’d like to have built. Check for water availability, septic suitability, geological stability, and easement rights.
Land for sale Santa Rosa CA
Investors in Santa Rosa will readily find lots in premium locations and up-and-coming neighborhoods. Whether you intend to build your dream home or a commercial property, you’ll have plenty of options in the city. Your choices include secluded lots, as well as parcels with mature vegetation.