Got some empty land that could be put to use? It’s possible to make money from vacant land by turning it into an extra form of income. Selling the land is the obvious way to make money from it (you could even build a house on it and sell it), however, there are also other more creative ways to make money from vacant land. Below are 5 creative ways that will help you make money from vacant land that you may own.
How to Make Money from Vacant Land
Start a farm
A farm could be an exciting hands-on way to utilize your hand. A few options could include:
- Growing crops
- Raising livestock or poultry
- Keeping bees
- Starting a mushroom farm
- Starting an orchard
- Farming fish
It depends very much on the type of land you have available. If you want to grow a decent amount of crops or raise livestock like cattle, you will usually need quite a lot of space. However, options like beekeeping can be done with very little space – whether it be rural or urban. Starting a farm may require a large investment up front and you will have to dedicate a lot of time to it, but it could be very profitable.
Harvest timber
An area of woodland could be turned into a sustainable forest. This could allow you to make money selling timber by chopping down trees and replanting new ones in their place. Even if there are no trees on your land, you could consider growing some trees from saplings. Just be wary that some trees can take a long time to grow to full size (pine trees can take 9 years, while beeches can take up to 40 years!).
Turn it into recreation space
Your vacant land could be turned into recreation space. By hosting some form of entertainment, you can then charge visitors for using your land. The likes of Belinda Stronach have made a lot of money turning land into horse racing tracks. Beyond horse racing there could be many other options such as:
- Renting out land for events such as festivals and weddings
- Setting up a paintball arena
- Setting up a motorsports track
- Building tennis courts
Open a campsite
A plot of vacant land could also be turned into a campsite. This could allow you to collect money from campers and caravan owners. The larger the plot of land, the more campers you can accept. This guide from Andrea Steele explains how to set up a successful campsite.
Convert it into parking space
You could turn vacant land into a public car park and charge people for parking there. This is likely to be most profitable with vacant urban land – given that there is often a shortage of parking in cities, you could find that more people are willing to pay to park than if you place it somewhere rural.
Create a community garden
Another great idea for vacant urban land could be to turn it into a community garden. There could be many local people that do not have a yard – a community garden allows people to rent space for gardening. In cities, they can be very popular, however, they tend to be less popular in rural areas.
Final Thoughts…
Using any of the ides above you can make money from vacant land. There are many more possibilities if you think outside the box. From parking to camping, there will always be a reason for that vacant land to be used so instead of letting it sit empty, why not try to make money from vacant land instead?
Do you have any suggestions for others to make money from vacant land? Please add your ideas to the comment box below.