If you are an investor, you know the risk that comes with the stock market and other financial assets. However, buying bare land is never a bad investment.
Whether it is in your locality, in other states, or across the country, it will always be valuable.
There is stability and confidence when you buy the right piece of land at the right price. The investment in a land far outweighs the investment in other assets. This is because a real estate investment offers more security over the risk, worry, and trouble that come with other types of investment.
Not to mention the amount of knowledge it takes to buy the right piece of land.
However, buying land in Montana can help you achieve your dream of owning a real estate property in the woods with a cabin and can enjoy the fabulous feeling of hunting.
Whether you are looking for a place to invest or just want to own a piece of land close to nature, Montana is the perfect place. If you are interested in buying land in Montana, visit Landbrokermls.com.
If you are not convinced yet, perhaps the following reason will act as an eye-opener for you.
Access To Fertile Agricultural Land
In comparison to other western states, the economy of Montana is fundamentally driven by agriculture. In addition, Montana offers some of the most exceptional mountain valleys in the western region that help the agriculture industry reign over other industries in this Big Sky Country.
If we go by the number, Montana alone offers –
- More than 27,000 farms.
- Almost 60 million acres with an average property of 2000 acres of size.
- An economy of $4.6 billion.
These agricultural activities have played a historical role in the valuation of all rural land in Montana. This, in turn, has created a market condition that relies on the trends happening in both national and international commodity markets.
While agriculture still remains the cornerstone of Montana’s economy, outside circumstances have emerged and changed the market dynamics.
Montana’s Non-Disclosure Rule
One of the main reasons why most billionaires and millionaires choose the Montana real estate market over other states’ real estate markets is because of the Non-Disclosure rule.
What does this rule state?
According to the Non-Disclosure Rule, all the information related to property buying and selling is kept confidential. Confidentiality is to the point where there are no public records maintained.
This unique distinction of Montana real estate has played an important role in attracting investors from all corners of the world.
Having no public record of current sales makes it difficult for the normal public to evaluate the real value of the land.
While these Non-Disclosure Rules certainly offer privacy, the same rule can sometimes backfire. For instance, it tends to give some sellers a false sense of confidence, resulting in many ranches being overpriced.
That being said, if you are looking for an opportunity to buy land in Montana, ensure that you are buying through a reputable broker.
The Montana Real Estate Market Is Growing Strong
Montana has always been the best place to buy property. But, it was the year 2018 that marked the rise of the Montana real estate market’s popularity.
If we are talking about the numbers, the following few numbers will give you an idea.
- 2018 made a record sale of 194 (almost 200 acres).
- The average price per acre was $1,750.
- The average price of the land per acre increased by 26% compared to last year.
While Montana’s large inventory has some of the most amazing properties, the only way to move the property is when they are priced correctly.
In 2018, all the properties that were sold spent an average of 70 days in the real estate market. Since then, the popularity of Montana’s property has only increased.
Here is a snapshot of the current data available –
- There are more than 600 active listings.
- The average property size is almost 2100 acres.
- With an average asking price of $3077.
If we move forward with ranches, they range from 2.5 million to 10 million. The range can even go further if you are looking for premium lands.
Experts believe that Montana’s real estate market will grow in 2022 because of the dip in the price. The COVID-19 pandemic has affected the market. Now that everything is coming back to normal, Mortana wants to start the real estate business as it was in 2018.
The Increase Allure & Values
Over the last two decades, there has been an increasing allure for the out of investors finding Montana to be a good real estate investment for multiple reasons.
- Montana lifestyles.
- Open scenic beauty.
- Recreational resources.
And all the other things that it has to offer are becoming more accessible. All of these have created a desirable refuge for wealthy people.
Montana is a place that offers the best deal for any real estate investment compared to other states of the United Nations. As a result, we have observed a clear rise in its real estate properties.
In 2018 the average price per acre was $2,066. Compared to $887 per acre in the 2000s.
One of the reasons why people are looking for an opportunity to buy land in Montana is because Montana still has this community sense left in it which has been lost in other states.
So, if you are buying a piece of land in Montana, the land is not only becoming part of your investment portfolio, but you also become a part of the Montana family.
Montana offers a lush and varied landscape that is perfect for building a second-family home. The one reason why people are looking for a Montana real estate property is that it offers privacy and relaxation.
Investing in land is a significant thing. And if not done correctly, it can prove to be an expensive venture with no ROI. That is why it’s important to follow a guide point when buying land in Montana.
When thinking about buying land in Montana, location is the most significant factor. While most people buy land in Montana for investment purposes, there are a few who want to build a second-family home. In that case, they would want to buy a piece of land that is close to all the necessary amenities.
Montana is a place where snowfall occurs during winter. So, you need to select a place that you can access throughout the year.
Remember that a second home is all about a place where you relax. The last thing you would want is to have stress, stitch, and try to find help.
Even if you are buying land in Montana for investment, the only way to get a good return on it is when you have modern amenities available. The other amenities attract customers and contribute to the factorization of sales.
One of the most important modern amenities is power. Although Montana is not a city, you need to ensure that the land you are buying is getting enough power to support all your electrical appliances in the home.
Furthermore, just like in the city, there is always a possibility of a power cut. The same thing can be said for Montana. Therefore, you need to have a backup plan.
Much Needed Facilities
Now that you have plenty of space on your land to move around, you need to be looking into different facilities that you can enjoy.
The first major thing to consider is the medical facilities. Your land needs to be located close to a good hospital so that you can need medical assistance in your time of need.
Then comes the security factor. You need to ensure that the location of the land is well secured and have an onsite manager that ensures your land’s safety.
Other Things To Watch Out For
So far, we have covered location, amenities, recreation, and value for money. These are the main points that you need to cover. However, there are a few other points as well that you need to consider while buying a land or ranch in Montana.
- While most of the water supply in Montana comes from wells, you must check the overall purity of the water you can find on your land.
- It is important that you have the history of the land when you are buying the property. If you are not careful, you might buy land created on top of old dumping grounds.
- Finally, floods are a significant threat in Montana. Hence, ensure that your land is located where it cannot be affected by floods.
You can keep dreaming of owning the land of your dreams or simply take the initiative to buy land in Montana before the prices go up.
Montana is a place with only a 1.1 million population. This gives you an opportunity to get the best offer when the demand is low. Slowly, but eventually, the price will rise. Then you might regret not buying when the price was extremely low.
As the population rises, the most expensive thing in the world will be land. Hence, buying land in Montana is never a bad investment.
(Image source: depositphotos.com)