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Different Purposes of Buying Land

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By : Gregory Akerman    99 or more times read
This ascertains that land is bought for different purposes and objectives. The common reason for buying land is the extrinsic benefit of its possession. Land is purchased for various reasons. These may include nearness, income (production and investment) and self-centered objectives. There are a dozen of other purposes such as simply to settle down in a new area or to purchase a first plot of land.

Nearness Purposes

The transfer of ownership of land has facilitated the mobility for people. It is easy to sell a parcel of land and to re-locate to another area. People do consider nearness similar to convenience. The lesser the proximity that exist between workplace and shops towards the home, the better do they consider the area. The nearness factor will save time in traveling and it will also reduce stress derived from long tedious journey from home to work and back. This is a major reason why families buy land.

Income Purposes

Another famous purpose why people buy land is for production. Land is usually bought in quantity by farmers and investors. The farmer might be focusing on expanding their production by increasing the number of acres owned. A large portion of land is required if farming is to be done on a large-scale, the benefit of expanding production is lower cost per unit and higher profits as a result. The investors will also buy land. They will similarly focus on profit. A profit that will be derived either through setting up factories or by other real estate projects. The investors earn a huge portion of profit when land appreciates in price. They do also focus on income that can be generated from rent and plantation of different crops similarly to the farmer.

Self-centered Objectives Purposes

There is another type of buyer, who does not necessarily purchase land for profit. They rather buy the land for self-centered objectives. These aims could include building a splendid and luxurious house. There are also people who simply purchase a plot of land to spend their holidays or for future projects. The future projects could include a retirement plan in a new region. People do often relocate by purchasing land in different regions because of a change in personal roles. The purpose of buying land is to satisfy the self and they usually possess an ample amount of capital for survival.

Uncommon Purposes

There are odd purposes of buying land as well. There are some individuals who buy land simply to have a place to play or swim. Other people, who have pets or ponies, usually buy land to nurture these animals. However, it is also true that some individuals have purchased land as a gift or to transform it into a family cemetery. These are extremely rare cases but it is prevalent.

There are numerous purposes of buying land. The ultimate reason usually depends upon our own objectives and financing capacity to pay.
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