What do you do with a lot for sale property? This is a very common question that lot only owners ask frequently. Almost every single person with a lot only property at one time or another has wondered about this. It's not unusual for people to walk into their neighbors' yards and see what could possibly be done with it. In fact, it's quite the norm in the Philippines. Little do they know there are tons of different ways they can use their property to suit their families' needs.
Are you considering purchasing an empty piece of real estate but are unsure of what to do with it? With a vacant property, the options are unlimited. It's like a blank canvas, so you may express yourself creatively.
Empty lot only properties can assist you in generating passive revenue in a number of ways:
- Rental
- Rental
There are three major ways to operate a rental business out of an empty lot. It can be rented as a vacant lot, which is the quickest and easiest way to do so. Renters on a tight budget may be drawn in by this because they will have the final say over the building's design and construction costs. The second option is for the lot owner to construct a building or a residence that is ready for occupancy and which they can rent out for a higher fee (RFO). Lastly, a location or structure that may be rented or leased by other companies over an extended length of time; these are typically referred to as commercial spaces. The most money is made by renting out this type of property.
- Planting, farming, and raising livestock
- Planting farming and raising livestock
Because of the lockdown, Filipinos have discovered the joys of planting and farming at home over the past few months. You can develop this hobby into a larger space if there is a vacant lot available. Whether you farm or grow as a pastime or a source of revenue, the yield will be higher if you do it on an empty lot. In this method, unlike when most plants are planted in pots at homes, plants can grow and breathe freely. Furthermore, by planting on a somewhat larger scale and occasionally selling or distributing fresh harvests, you can benefit your local neighborhood. "Kung may tinanim, may aanihin" as the elders say, meaning that you can think of farming or planting as an investment that you can one day use to make more money. In addition to planting, you can raise farm animals like pigs, cows, goats, and chickens on your empty lot; however, you must be careful not to violate any covenants included in the purchase agreement and to consider how the smell and noise of the animals may affect your neighbors.
- Leisure purposes
When city living becomes too stressful and a person becomes worn out and burned out, having a location to get away might be beneficial. So it might be advantageous for everyone to have a lot where you can create a recreational facility for you and your family who may also require a break from the hustle and bustle of everyday activities. The most typical method is to construct a rest house close to nature or another peaceful area. If you have enough room, you can decide to include other elements like a swimming pool or a miniature koi pond. Building a covered court, a fitness center, or a studio for dancing, aerobics, martial arts, etc. can also transform it into a fitness facility.
- Leisure purposes
Those are general ways to utilize lot only properties in the Philippines, but when it comes to specific lots, such as residential lot only properties, there are still several ways to use your vacant lot to the fullest and here’s how: