Michigan land offers the investor an opportunity to purchase a natural resource that can appreciate in value over time. However, the state’s raw land often requires sharp hunting skills, market knowledge and the patience of Job to thrive. Those who have the foresight to seek out the right property, analyze their finances and invest wisely will likely see a positive return on their investment in the long run.
The cold reality is that purchasing raw land in the Upper Peninsula can be an expensive endeavor. Vacant land costs more to buy than a rehabbed house or apartment complex, and it typically doesn’t produce rental income while awaiting sale. Additionally, zoning and land use regulations vary between local and county levels, with shoreline properties falling under heavy regulation.
Despite this, there are plenty of reasons why investing in Michigan land may be worth the effort. For example, the state boasts more miles of freshwater shoreline than any other state in the country. This offers endless opportunities for watersports ranging from whitewater rafting to kayaking and fishing. And of course, there’s never a shortage of gorgeous places to take in the stunning scenery of the Great Lakes.
Beyond the recreational aspects, a well-chosen acreage of Michigan land also has a lot to offer in the way of natural beauty and biodiversity. With its healthy population of deer, elk and turkey for hunting and pristine lakes with prized trout and bass, Michigan is a nature lover’s paradise.
Even the harsh winters and short summers are attractive to outdoor enthusiasts, as they make for ideal conditions to enjoy a wide variety of winter sports, including cross-country skiing and snowshoeing. This is why, as an investor, you can expect a strong demand for is Michigan land a good investment that offers both hunting and recreational activities.
Regardless of whether you intend to farm, hunt, fish, explore for minerals or use your property as a retreat for friends and family, leasing out your land can provide consistent supplemental income that offsets the carrying costs of your investment over time. While lease rates are relatively low compared to other states, they’re enough to help cover expenses and defray the cost of ownership.
As the old adage goes, “they’re not making any more land.” Therefore, it takes smart planning and a patient strategy to make raw Michigan land a good investment. But if you follow the steps outlined in this article, you’ll be on your way to purchasing a piece of the Great Lakes state that will serve you and your loved ones for generations. Contact us today to get started. We’re here to answer any questions you might have about finding and buying the best Michigan land for your needs. And if you do decide to make the move, we’ll be there to guide and support you every step of the way. Happy investing!