Since the dawn of mankind, human beings have relied upon the earth to provide them with sustainable food, water and the means to create some type of shelter from the elements. Human beings have hunted on the land, cultivated the land for crops and harvested timber to construct homes. In many ways, land is our most precious natural resource. While land provides us with these most basic and fundamental of necessities, land ownership is, in fact, a much more complicated business. There are countless pitfalls and a myriad of considerations when undertaking the task of buying or selling land. Buying or selling land is certainly not a task to be undertaken lightly. Before taking that first step toward buying or selling a piece of property, be sure to carefully evaluate all the potential consequences of your actions, both positive and negative.

When buying land, individuals or corporations have the opportunity to make a wise financial investment in their future. If history is to be any indicator, Minnesota & Wisconsin land values will generally appreciate in the future, sometimes dramatically. Families may consider a land purchase for recreational purposes; a parcel of land to return to year after year to enjoy on a vacation. For those willing to roll up their sleeves and invest a little sweat equity, land can provide the means to cultivate the soil for food, flowers or livestock, to grow timber for the purpose of providing lumber for new construction or pulp for paper production, to hunt both small and large game, to construct new office buildings, shopping or restaurants, to establish new housing developments, or to make a profit by building and renting out a vacation home. When considering what you can accomplish with a piece of land, the sky is truly the limit!

If you are considering the purchase of land, be sure to have a clear purpose for which you plan to utilize the land. Zoning regulations in Minnesota & Wisconsin are very important, as you probably will not be able to construct a large business on a tract of land that is zoned residential. Be aware that zoning regulations can change, rapidly in some jurisdictions. Be sure to inquire about any proposed or planned zoning changes in the area. Consider what upcoming growth is planned for the surrounding communities. If the government is planning to build a multi-lane highway through the center of your potential hobby farm or hunting camp, this may not be the best piece of land for you to purchase. Consider what use of the land has been made in the past. Has it been profitable? If you are purchasing a farm for sale, for instance, are the revenues sufficient to support your families' needs and lifestyle? You probably will want to have a professional appraise the value of the property before committing to its purchase. You should also look to retain a good attorney to adequately advise you about your rights and liabilities when purchasing land.

When selling land in Minnesota & Wisconsin, there are other serious concerns. Land values are extremely sensitive to the outside environment. For example, zoning regulations can change rapidly, affecting the value of the land's potential usage. Large-scale commercial development may have a positive impact on a restaurant, but a very negative impact on a tract of hunting land. When you own land, you should always be mindful of the changes going on in the surrounding community and how they might affect the value of your land. Although it may be tempting to spruce up your property before putting it on the market, be careful not to invest too much money in your improvement efforts. Making things look spiffier is one thing, but spending thousands of dollars you are unlikely to recover in the sale is another. Terms of the sale can also be tricky. Having a good broker and attorney is critical to help you through this otherwise complicated process.

Whether you are buying or selling, try to view the land objectively. Many potential land buyers or investors fall in love with a property at first sight, moving forward with a purchase without weighing the pros and cons of their actions. Due to their personal investment of time and money, sellers may be unconsciously unwilling to observe the flaws in their property. As a seller, take the time to consider the flaws prospective buyers will see so that you can remedy the situation before putting the land for sale on the market. When buying, try to look at the land from the perspective of a future buyer. What concerns will that future entity or individual have about the property?

Land buying or selling are both complicated and fraught with potential dangers and pitfalls. Let the experts and LandBin.com help you do your homework and consider all the ramifications of your sale or purchase before taking any firm action. Hastily made decisions without adequate thought and contemplation may be decisions that you regret in the future. When done properly, buying or selling hunting land, commercial developments, hobby farms, timber land, farm land or recreational property can help put individuals, families and businesses on the right track toward a more prosperous future.