For those who are not afraid of taking on a large project, purchasing undeveloped land and building a home or property to sell can be a good decision.
One of the biggest advantages to buying land and developing it for your own personal use is that you can build a property to your exact specifications, whilst buying land for sale and developing it to sell, can result in a handsome profit. Whether you are planning on building a unit, studio apartment, or other type of property, buying land can be a wise investment.
When buying land for sale, the most important thing to consider is the space required to build your dream home or block of apartments / townhouses. Thus having an architect draft plans prior to purchase can ensure the land will accommodate the property you plan to build.