If you are planning to buy a tract of land, you may be interested in using your new purchase to make money. Landowners can generate additional income by using their land to grow timber, house solar panels, or display billboards. In addition, the land can be used for recreational purposes to make money.
Here are a few ways that you can generate revenue through the recreational use of your land.
Many families are seeking ways to get away from the hustle and bustle of city life without the expense and crowds associated with high-end resorts and hotels. As a result, they may opt to go camping.
By allowing campers to rent a camping site on your land, your land can provide residual income for your family all year. Depending on the size of your plot, you may be able to rent to ten or more campers per night.
To determine the best rental fees to charge, review the camping fees offered by other landowners in your area.
If your land includes a pond or access to a river or lake, consider charging guests to fish on your land. You can charge a set fee per fisherman. Still, you may have to verify that each adult patron has a valid fishing license for your state.
In addition to an entry fee, you may also be able to charge visitors for the number of fish caught above a set quota.
Hunters may pay hundreds of dollars for the right to hunt on your land. By hunting on a private parcel, they are less likely to encounter casual hikers who may frighten the animals or inadvertently wander into the line of fire. Additionally, there is little competition from other hunters.
If you do decide to rent your land to hunting groups, there is little that you need to do other than collect your fees and approve the hunting dates.
If your land has a lot of natural beauty, it could be a desirable site for events, such as weddings, photoshoots, and youth gatherings. Thousands of dollars in fees can be obtained from a single wedding.
You may want to consider renting accessories, such as chairs, tables, and tents. However, you can also have the renters bring any necessary items for their event.
To see the available recreational land for sale in your area, schedule a consultation with a local real estate agent.