According to the Oxford dictionary, an asset is a useful or valuable thing or person. They say that the most valuable things don’t have price tags attached to them and in as much that carries a lot of truth; we live in a world where almost everything has a price.
Land is not an easy thing to acquire but truly, nothing good comes easy. For things like land, one has to really put in the work before earning it. That is why they are considered of value and and the value keeps appreciating as days go by. Overtime, land selling companies as well as owners of lands benefit from it. It is only in rare circumstances, mostly geographical, that land can depreciate in value.
Thee following are reason why land is the most appreciating ass
- It has no competition
- Every piece of land is unique in way. The climate, neighbourhood and location have different characteristics. Being so, one can be suitable for farming while yet another can be fit for residential and commercial purposes. However, unless zoned otherwise, most pieces of land can be used for multiple reasons. It also does not hurt to own many lands. It is actually advisable and considered smart financial goals.
- It is indestructable.
- Land is a tangible yet not destructible. It can stay for years and just like fine wine, it gets better with time. Regardless of how much the land has been abandoned and neglected, it always appreciates. However, there are rare situations when land can lose its value. These includes natural calamities like occurrence if an earthquake. Lands prone to this kind of calamities are those near mountains and craters. It is however not a loss considering most people who invest in these places have already taken an insurance cover of the land and can get compensation in case of such circumstances.
- It is permanent
- Land is a natural resource and it is limited. And just like Mark Twain said, ”Buy land, they are not making it anymore” . In other words, all we have is the already existing pieces and when things are limited, the cycle of increasing in value will not stop especially against the increasing in the dollar rate.
At Wazury Real Estate, we help you find land that is affordable and the best that suits you. Give us a call today on 0728279314.