3 Types of Projects First Time Land Buyers Can Invest In

Collaborative post

If you're looking to invest in property but not quite sure which type, then you may just want to look into buying land. This way, you can create whatever you want to invest in and make a killer profit.

Property investing will eventually lead most people into property development. S

ometimes the projects that are out there just aren’t appetizing and you want something to do something different.

Or maybe you just want to start investing in a project that you have control over.

So investing in land is smart, but what kind of projects are good for a first time land buyer?

1. Family house

If you’re intent on building a normal family house, then you will need to go through a simple process.

• Before you even get started, check the price of the average home in the area you want to build in. It's no good building a crazy expensive home in a location woth average priced properties

• What are the zoning laws and regulations in that area. If you want to buy a house that is technically, it's own land, such as in a village, then you need to go through different planning permissions which involve more landscaping issues that need resolving. If you are building a house from scratch in a street, then you just need to meet the already-set requirements.

• Laying a foundation is the critical first step. This can only be done after a conveyancer or equivalent has inspected the ground. They will let you know about any flood risks, piping concerns and what time during the year is best to set the foundation in your location. Some locations tend to have more rainfall than others, so you can't just lay the concrete, you have to let it dry, set and start covering it quickly, before the rain starts.

2. Invest in a foreign venture

If you would like to go with a foreign venture where you could build something in the way of business buildings, such as warehouses, offices, headquarters or hotels, etc, then you should look at this type of land.

You need to get the right kind of planning permissions but ultimately, governments are very friendly with investors who want to build parts of their infrastructure. 

But why go foreign?

Well, for one thing your money will stretch a lot further.

For another, land that you see that is priced at 25,000,000 Thia Baht, is just $800,000 in US Dollar currency.

For less than $1 million, you can buy land that is 10,000 - 15,000 square feet.

This means that you have so much space to build huge projects but still have the financial firepower to get everything done in quick succession rather than waiting years to build up enough funds after the purchase to do something with the land.

3. Hotels and spas

The leisure industry comprises of spas and hotels, which could be great investment opportunities in places woth high tourism and/or high networth individuals.

If you choose this option (something I am also interested in), you should look at investing in land that is secluded, in a quiet area and not necessarily, near a big city.

The closer you are to a major city, the higher the price of land. But with a spa or hotel, the entire point of your business should be to offer privacy and serenity.

Often, when large hotels crop up, other investors will want to build property around your property.

They could build shops, homes and roads, which turn into resort towns so you could start something bigger than you expected.

These are all just ideas however, the main thing is to get your spa or hotel right and that means, hiring the best company to build your business.

For this you really do need to browse in the internationally-acclaimed market and work with large companies to make your land come alive.

This is all just food for thought. If you’re new to property investing then definitely check out our #PropertyMagicians Podcast for more ideas.

Do a little more research and consider what you want to do with the land that you can afford.

Even just a little patch of land could end up being a lucrative and profitable idea if you want it to be.

Let us know your thoughts in the comments section below.