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Land is the human being's most basic resource, according to Henry George, Defined as all air, soil, minerals and water, land supports life. It is mankind's source of wealth and is used directly or indirectly to produce all goods and services. There is a fixed amount of land available, and demand for land is the only thing that determines its value. It's worth what only what someone is willing to pay for it, but there are ways to raise land's value.
How to Increase Land Value
Use conservation methods such as conservation tilling to keep organic matter in the soil and adding sodded waterways to prevent soil erosion. Improve drainage by installing drainage tiles and add nutrients that have been depleted to soil.
Improve the appearance of land. Remove junk and repair structures, such as fences and sheds. Remove weeds, mow the grass and make sure there are no environmental hazards, including chemicals, unused wells or underground storage tanks.
Plant trees. According to GMO head Jeremy Grantham, timberland will be the best asset through the year 2012. The value of timberland has gone up every year since 2001, with a higher rate of return than stocks. Tax benefits are available to owners of timberland.
Landscape the grounds. Plant grass, gardens and shrubs that are easy to maintain and look great. Add rocks, ornamental plants and ponds or waterfalls to increase land value.
Keep careful records that show what improvements were made to the land and when they were completed. Include materials used and warranties or guarantees that are offered.
Join a school improvement team and a crime watch group in your community. Improved schools and a lower crime rate add to the value of your land.
Some improvements to land begin to decline in value in about 10 years.
- valeggio sul mincio gardens 25 image by superkiss from Fotolia.com