We buy houses in Framingham MA and we are aware of the many “out of the box” ideas for undeveloped land in Framingham MA. Some can even serve to provide an additional income! We are local homebuyers in Framingham MA, so if you own land in Framingham Massachusetts, check out our latest post for ideas on what to do with your undeveloped Framingham MA land!
The land is a straightforward and simple real estate investment. There aren’t typically any expenses to deal with other than taxes as a landowner. No repairs to pay for or tenants to evict. However, if you are simply holding land waiting for it to appreciate, you might as well put it to work while you wait. Before you plan on developing the land into a profitable one, make sure that your property is zoned for what you want to do. You can’t set up a campground in a residential neighborhood, and so on!
What To Do With Undeveloped Land in Framingham MA
Framingham Parking Lot
If you own a property in a commercially zoned or mixed-use area, you can lease out the property to local businesses to use for parking. You could also choose to set up a private parking lot yourself, charging cars as they come in. This can be very lucrative if you own land close to an area where special events are held.
Vehicle, Boat or RV Storage in Massachusetts
Some people don’t have room to park all their toys. Some communities won’t allow it! Densely populated areas will usually have smaller yards. People who own a boat, RV or additional vehicles, might not have anywhere to put them! By turning your undeveloped lot into storage, you can collect several monthly rent payments with little overhead. Be sure to check your insurance and liability requirements.
Camping in Framingham Massachusetts
If you own property in a rural and desirable area, find out what needs to be done to allow camping on the property. While you could choose to make improvements to the land, beneficial to campers, you could also choose to let people stay there as-is.
Framingham Horses and Livestock
If your land is zoned agriculturally, you can choose to keep horses or livestock on the property. This has tax benefits as well. If owning animals isn’t your speed, you could lease to a breeder, providing a monthly income for you with little to no work.
Lease To Hunter or Farmer in MA
If you own a large parcel and it is properly zoned, you might have the ability to lease it to a hunter or farmer. This is actually relatively common as you can find people to use the land for a short period of time. Sometimes, leasing the land for one season to a local farmer can be very lucrative!
Events in Framingham MA
No matter where you live in the USA, there are likely traveling events that pop up near where you live. These events pay landowners to lease the space on a short-term basis. You will need to find out the permitting process, but you can use your land to host events such as circuses, Octoberfests, and carnivals. Make sure you have solid contracts with these vendors, limiting your liability.
Make Framingham Land Green(er)
With green technology popping up everywhere, landowners are using this to their advantage. For example, you could choose to install solar panels on the property, selling the energy back to the electric company for a profit each month.
Develop Framingham Massachusetts Land
The best way to generate value from undeveloped Framingham MA land is to develop it. Check for zoning requirements, working utilities, paved roads, etc. Compare your options before deciding what to build/ What kind of structure can you get up for the least amount of money that will generate the greatest return? Commercial, residential, multi-family? Take a look at the costs to determine what will work for you!
Sell My House In Framingham MA
Depending on the property, it might make more sense to sell it as opposed to continue holding on to it. Just make sure to become acquainted with the top homebuyers in Framingham MA and strive to keep your finger on the pulse of the local real estate market. You don’t want to find yourself stuck with a worthless piece of land and nobody to buy it. Whether you want to sell your house in Framingham MA or your land in Massachusetts, just contact us using the form below! We can help you learn how to profit from selling land and how to determine if it is the right time to sell in Framingham MA!