Las Vegas and Henderson Vacant Land

Las Vegas and Henderson Vacant LandLooking for a place to build your dream? Or maybe a long-term investment? Find a piece of land to suit your goals. When you think about buying land, you may think of rural country pastures. Not all available land is found in rural areas, and it is more than likely possible to find urban vacant land. For example, think of old disused car parks, parts of residential yards being sold off, or land containing buildings scheduled to be demolished. The spare land could be the perfect location for a new building project, whether that is to build a home or a building to rent out.
However, purchasing vacant urban land does come with its pros and cons. These are all worth understanding before you get sucked in. Continue to read to find some of the biggest pros and cons of buying vacant city land in Las Vegas.

Vacant Land in Las Vegas

Las Vegas Vacant Land & Lot Statistics July 19, 2024
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432 Properties
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Land for Sale in Las Vegas

While most states struggle to keep up with recent economic issues, the state of Nevada is thriving. But is owning land in Nevada a wise decision? Investing in land in Nevada comes with many perks because the land is generally a commodity that hardly depreciates compared to other entities. There are factors of owning land in Nevada that you might want to weigh before taking a step in that direction. It is a famous state to settle in for millennials looking to start a business, and for retirees who prefer the state for its peaceful residencies surrounded by nature. When weighing the pros and cons of owning land, it is essential to decide what you wish to do with the land you own.

Pros of Buying Vacant Land in Las Vegas

Access to Utilities

A rural plot of land typically doesn't always ensure convenient access to mains water, electricity, or gas. This can typically mean paying huge amounts of money to get hooked to the grind or having to strictly rely on self-sufficient options such as solar panels or wells. With urban plots of land, it is easier to get hooked up to utilities.

Accessible Roads

In urban areas, plots of land have accessible roads leading directly to your land. In the case of rural plots of land, you may have little more than a dirt path. If you do decide to build on the land, having access to roads can make it all the easier to transport construction equipment. It can be more convenient for you and anyone who occupies your home once it is completed.

A Good State for Secure Investment

Investing in land is the safest option to secure and multiply your savings all in one, that is if you want to be prepared for uncertainty or to make a solid retirement plan. There are many flocking to Nevada for its wide range of benefits, but it has abundant land that you can buy. The majority of land is government-owned, and land can be bought for a low price.

Thriving Economy for Business Growth

Nevada's economy is amongst the most prosperous in the U.S. When other states tend to struggle to keep up with the economic crisis, Nevada offers bustling opportunities to many businesses, local and corporate. The state houses many several-billion-dollar companies and construction plants. The population of the state is always rising significantly, and there is a good chance if you have a business, it will thrive in this positive environment.

Touristy State

Nevada is home to the most bustling tourist city in the U.S.: Las Vegas. It is the nightlife center of Nevada, and it attracts tourists worldwide. High tourism can be used to your benefit by purchasing land to offer accommodation to tourists. Combined with low sales tax in Nevada, it is a golden opportunity for the business savvy.

Cheap Land in Nevada

If you are looking for something that is a lower investment, Nevada is a perfect place to start land investment. There is plenty of land in the state, despite the bustling economy in Nevada, contributing to the low prices. Compared to states like Arizona and Texas, land prices are several bars down. The average land cost per acre is $350-$600.

Good Family Chilling Spot

Because you can purchase land in Nevada for cheap rates, turn it into your family getaway spot. The state of Nevada offers an abundance of nature with a variety of landscapes that cater to outdoor activities. Nevada receives a healthy amount of sunshine and vitamin D, and you can make plans to spend time under the sun through various activities from hiking in the lush green mountains to camping by the many lakes.

Cons of Buying Vacant Land in Las Vegas

Zoning Restrictions

Urban plots of land come with zoning restrictions, which can be a huge downside, depending on what you had in mind for your land. Certain housing structures can be more likely to impose on other people's privacy or block out views, which can lead to protests against your plan. You may find that you don't have much freedom to construct the home of your dreams this way.

Shortage of Land

There are not as many available plots of land in the city as you would assume. Those that are available are unlikely to be underdeveloped. You are much more likely to find vacant land containing abandoned buildings or rubble, as this will have to be demolished and cleared before the use of your land is at your disposal for your purposes. This will add to the overall cost.

High Price Range

Available land in the city can be more expensive per square foot than what you will get in any rural area. Be prepared to pay a lot more out of pocket for a lot less. Those who are in search of a larger plot of land can find that urban plots of land are too pricey.

Low Rent Rates

Affordable land and property are an attractive advantage for living in Nevada, as we stated above, but that also means settling for a lower rent if you are planning on turning your property into a VRBO. If you are looking for higher rents, you may have to invest in land in more urban areas, requiring a higher investment.

Negatives of Tourism

Tourists bring traffic, this much is a given. Nevada is famous for its many casinos and hotels, which are all tourist hubs, so you have to be ready for the traffic flow in those areas. Tourism also tends to bring a lack of harmony that negatively affects the economy. Many are addicted to drinking a gambling, and the abundance of alcoholism leads to many accidents as tourists tend to drink and drive.

The Bottom Land

If you are considering buying underdeveloped city land as either an investment or to start your dream house project, it is important to have a plan in place for the land and how you can finance the purchase should you run into high price ranges. Make sure you factor in all the pros and cons of your decision to make the ultimate decision that is best for your family and yourself. Contact Your Las Vegas Realtor for more information.