Land ownership usually requires a large amount of time and resources. If you have bought land or are thinking about doing so, you need to know how to make money on your land to cover the costs.
How to Make Money with Your Land Quickly
Below are some quick ways to make money from your land without doing much (or any) work yourself.
Host a Billboard
If your vacant lot borders a busy highway, having a billboard can put a significant amount of money in your pocket. Advertising companies are always looking for new locations and may be interested in your location. Payments to owners vary greatly depending on token size, current advertising rates, amount of traffic, and many other factors.
Logging companies are often looking for new places to harvest timber. Prices paid for wood vary depending on what is grown and the age of the trees.
To give an example, cutting a young pine forest (less than 15 years old) can pay about $250 per acre, while a mature pine forest (over 35 years old) can pay $2,500 per acre. For more information, contact your state Department of Conservation and ask them about selling timber.
If you have the right to put a structure on your land, you can provide a closed storage. People need a place to store heavy equipment like farm equipment, RVs and boats, and they will pay for it. Just make sure you have adequate insurance to store valuables on your land.
Open a Campground
If you have vacant land near hiking or outdoor attractions, you can make some money by opening a campground. First, make sure your plot has water and some sort of flushing system.
Make Money From Your Land by Leasing It
If you are willing to rent or lease it, there are many ways to make money from your land.
Offer to Rent Your Land as Pasture
If you have a pasture, you can easily rent vacant land for livestock such as cattle or horses. Just remember. Animals can cause long-term damage to your land.
If your land is not ideal for grazing animals, consider leasing it to beekeepers. Beekeepers in some areas will pay to keep their colonies on your land. Land may be particularly desirable if it borders an orchard or has a certain type of flora (such as blackberries) that provides a special flavor and makes the honey more marketable.
Lease Land to Hunters
If you have a large tract of land that is also home to wild animals, you can make a significant amount of money by allowing people to hunt on your land. Arrangements vary from situation to situation, but having certain amenities (such as a cabin with running water and electricity) will make it more attractive to prospective hunters.
Always check local hunting restrictions with your local wildlife department. Don't forget to check if guests have hunting permits before you arrive.
Allow Farmers to Lease Land
Many landowners with properties near farms have successfully leased them to farmers. Farmers will take care of the land and harvest the crops. All the landlord has to do is approve the lease. The larger your plot of land, the more attractive it will be to interested farmers.
Rent Plots to Local Gardeners
Community gardens are becoming increasingly popular. If your land borders residential areas or apartments, you may be lucky enough to rent land from community members for your own gardens.
How to Make Money Buying Land: Subdividing
While the ideas above represent ways to make a profit by holding property, the most money you can make from land is selling it, and in more than one piece.
Selling your land in parts is called subdividing. By subdividing your land, you can earn more from parts of your land than from selling it as a whole (unless the land is in an undesirable/secluded area). You can sell all or part of the plots to keep some of the land. It is important to remember that selling a portion of your property will make the remaining acres less valuable.
To check the zoning laws for a subdivision, visit your county's planning and building department website.