1. Opportunity to create the highest and best use
One of the biggest benefits of buying land is the freedom to create the property you want. Of course, you first must determine what the best use of the property would be in your particular area—but you can get creative.
You have a lot to choose from. You can decide to either build your home, build rentals, engage in crop growing, bring in some productive animals and much more.
2. There Is Only So Much Land
Mark Twain once famously said, “Buy land, they’re not making it anymore,” and that really sums up the top reason why land is such a good investment. Land will always be needed, and it is not going anywhere. Buildings and businesses come and go, but land remains. Because land is a finite resource, it makes sense that it can be a lucrative investment.
3. Less maintenance
Land is much easier to manage remotely than rental properties are. Many of the maintenance concerns of a rental, such as plumbing, electrical, and common areas, don’t apply to vacant land. There’s typically less vandalism, too.
4. More affordable than developed land
Vacant land is usually cheaper to own as a long-term investment, especially since property taxes and fees are often lower than for developed land.
Also, vacant landowners tend to be motivated sellers. You can negotiate a lower price or even land seller financing. The affordability can be a game-changer.
Source: Bigger Pockets