Utah’s robust economy, steady real estate market, and low property taxes make it a great place to invest in land. Plus, its natural beauty and outdoor recreational activities create a strong demand for vacation rentals, generating rental income for investors.
The southeastern part of the state borders Arizona, Colorado, and New Mexico. It’s home to mountain peaks, snow-capped cliffs, rock formations, and pine forests. It’s also rich in mineral resources, including gold, silver, copper, molybdenum, and lead as well as fossil fuels like oil and gas.
Many Utah residents are drawn to the state for its high quality of life, excellent schools, affordable cost of living compared to other states, and a pro-business environment. For these reasons and more, the Beehive State is attracting new residents, which in turn boosts local jobs, real estate, and property values.
Buying raw land for future residential development is one way to invest in Utah. But, it’s important to carefully assess all considerations such as terrain, access, weather, and regulations. Partnering with a local real estate agent who specializes in sourcing and selling land for investment purposes can help streamline transactions and offer expertise in making informed purchase decisions.
Land prices vary based on location, zone, and availability of utilities. Private recreational land in northern areas such as Wasatch Back and Park City can cost up to $1 million per acre for a prime ski-in or lake-access property. However, if you look at the southern portions of the state, such as Washington County or regions bordering Nevada and Wyoming, it’s possible to find raw land for under $5k per acre. Federal land sell-offs often offer the best deals.
If you’re considering is Utah land a good investment , the first step is to connect with a knowledgeable real estate agent. They can provide deep-level insight on market conditions that will help you scale your portfolio for a profitable venture. Whether you want to do a Utah land flip, buy a long term rental, or develop a residential spec project, an experienced Utah realtor can guide you through the process and make your investment successful.
Real estate agents can also be an asset when it comes to researching local land records. Historical deeds can reveal information about the property’s previous owner, how the land was used, and more. These details can help you understand the property’s past and determine if it may be a good investment opportunity in the future.
As with any type of investment, there are risks and benefits associated with Utah land. However, if you research the state thoroughly and invest with a local real estate company who has the experience and buyer networks to vet and manage properties, you can enjoy a strong return on your money. Rize Property Management is a specialized local real estate company that can help you navigate the land investment process and find the right properties to maximize your returns. Contact us today to get started!