The great thing about owning land is that there is so much potential to earn from it. Even the smallest pieces of land can be used in a profitable way if you’re willing to think a little bit out of the box. So, if you own some empty land or you’re thinking of buying some land, here are some fantastic ways you can use it to earn some serious money.
Build property on it
One of the most popular (and profitable) ways to make money is to build property(s) on your land for residential or commercial use. Whether it’s near a residential area and you want to build an apartment block or you’re in an industrial area that could benefit from some storage space, it could be very lucrative. Find out if you’re legally allowed to build on your land and if you are, get some builders in to build some properties to rent out. It might be costly at first, but it could bring in some serious cash in the future.
Start a farm
You could also consider turning it into a farm, and it doesn’t have to be a conventional one either. Even if your space isn’t that large, you could turn it into a hutchery of sorts for livestock that’s about to give birth. It will give them a safe space to bond with their young away from the craziness of farm life. All you’d need is some calf hutches, storage space for cattle feed, and a secure perimeter so animals can roam. Or, if you do have the space, why not turn it into a fully fledged farm? There’s some really good money to be made from it!
Turn it into a parking lot
Another option to consider is to turn your land into a private parking lot, especially if it’s near certain attractions in your area. The great thing about a parking lot is that it doesn’t cost too much to build and take care of, and if there are enough visitors each day, you’ll make a passive income without even thinking about it. You might have to pay for someone to manage the car park and empty the metres, but it’s definitely worth considering.
Make it into a campsite
If your land is slap bang in the middle of a gorgeous countryside, then you could turn it into a campsite. You can charge campers and caravanners to pitch up and make a pretty penny or two, especially during the warmer weather. You might want to invest in bathroom facilities and electric points, but overall there isn’t much needed to maintain a campsite. Just sit back and enjoy the passive income!
Rent it to energy/solar providers
Finally, you could use your land to produce renewable energy by installing wind turbines and solar panels on your land. Then, you sell back the energy you collect to energy and solar providers. The initial investment might be expensive, but over time you will see a very lucrative return.
