When thinking about investing in real estate, brick-and-mortars come to mind, but the most basic real estate investment strategy has always been land. It is a raw investment, and it gives you the ability to start something from scratch and build anything you desire. What makes buying land an attractive option is the flexibility of the area – it can be used for residential real estate, commercial estate, farming purposes, or simply left to appreciate.
Why Buy Land in Kentucky?
Don’t overlook a chance to invest in land! The costs when maintaining land are low to none. Land is an entity of itself that cannot be damaged or vandalized like buildings can. Additionally, the taxes on land are very low.
Even better, purchasing land can be pretty smooth. For just a thousand dollars, there are many lots that you can buy. Being relatively cheap and easy to maintain, land ownership is a simple way to diversify your real estate portfolio. There are also fewer people out there buying land. The low competition gives you some negotiation power when working with a seller. Not to mention, owning land can make money in several ways: you can sell for a profit, lease it out, or develop it yourself.
Why Land in Kentucky?
Seller’s Market shows that buyer demand exceeds how many homes are listed right now. Most homes are going off-market quickly, but that’s not it. Property values are increasing. Over the next year, homes in Kentucky will likely appreciate by 7.6%!
According to the Happiness Research Institute, people in Kentucky are some of the happiest people in the country. With its horse racing, bourbon, moonshine, coal, tobacco, music, and college basketball, among many other things, who wouldn’t be happy? Here are some more facts about Kentucky from the population:
Low cost of living
Kentucky has low property taxes and low rent, as well as cheap education. The overall cost of living score is 83.6, compared to the national average of 100. You can save yourself some serious green by moving to Kentucky.
Like many Southern states, Kentucky boasts good old southern cooking, and there are quite a few choices that the Bluegrass state calls as its own. You can bet they’re guaranteed crowd-pleasers at any Kentucky Derby party, like the Derby pie (stuffed with chocolate and walnuts)—a local favorite – as well as Louisville chili and bourbon balls (crushed cookies, pecans, and bourbon rolled up). Not to mention, Kentucky is all about BBQ – truly mouthwatering!
Known as the “fifth season” in the state, each May, there are several weeks of concerts, parties, festivals, golf tournaments, and more – all in honor of the Kentucky Derby. So if you’re looking into living in Kentucky, get ready for the annual state-wide party month!
Close to major cities
Kentucky is just a day’s drive away from major metropolitans like Cincinnati, Nashville, and St. Louis. You can just hop in your car and hit up one of these other awesome destinations.
With its warm summers and pleasant falls and springs, as well as the short distance to the East Coast, all the pros of living in Kentucky are good enough reasons to stay in this wonderful state.