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amksenin@lemmy.world 21 hours agoi think their purpose isn’t to farm. their purpose is to have a good time. they can do that better if their land is pretty
how do i figure out the supply and demand of pretty land?
Valuation of undeveloped recreational property is going to be a lot more speculative than agricultural/industrial use because the final product is not tangible.
If you’re asking strangers on Lemmy how to do land valuation I don’t think you should try your hand as a real estate developer.
:D
I know its value if I did what others did. There are many projects in my area.
I am just trying to make my project different so I can have something I can market on the internet. This way I can sell for a higher price.
In other words, you want to try your hand as a real estate developer.
If you want to market homestead sites, you need to improve them with road access, power, water and maybe wired internet.
It’s less about marketing and more about making the properties “turnkey” for your intended buyer.
Oh yeah, that is included in the final product. There are many projects that are doing what you mentioned. I want to make my project unique somehow so I can have something to market and price differently.
spongebue@lemmy.world 20 hours ago
That’s a basic economics thing that doesn’t have an easy answer. But basically, at lower prices, people generally demand a higher quantity of something. Raise the price, and people start to think twice and consider other options. Supply is the opposite: at a higher price, more of a product will be produced (or in the case of pre-owned land, landowners are more likely to cash out). At lower prices, people won’t bother.
So in the case of land, price is affected by what people want, but also what’s available. If there is a lot of open space and that’s what everyone wants, groovy! But if people want limited amounts of tree land, prices are going to skyrocket for that and people will look at open land as an alternative.
amksenin@lemmy.world 20 hours ago
Pretty land is definitely rare here. I’ve never seen a similar project that is green, but I don’t know what it means financially to people.
People drive for 2 hours to go to green areas for picnic for example. Almost all buyers of this type of land grew up in a flat and they overvalue greenery compared to someone who grew up in a house with backyard.