Land for Sale in Utah: A State With Geographical Diversity
Posted: November 05, 2014 by LandCentury
Utah land is in abundance. The state spans nearly 85,000 miles, but is home to just 2.9 million residents as of 2013. The state is seeing a slow growth in population with 2010 2013 statistics showing a 5 percent increase, or roughly 140,000 new residents were added. This is a unique opportunity as land for sale in Utah provides a multitude of geographical diversity.
Cheap land in Utah is often found in areas where the climate is more arid, but that is not the only land available. From an investors perspective, Utah is one of the states that seemingly has it all. Land opportunities are as follows:
Desert: The area with the most affordable land. The desert areas provide beautiful sights and hot, dry climates. These areas have several dozens of acre opportunities, but the climate does not provide a welcoming environment for all. Hunting, fishing and hiking is a big draw in the desert areas, but if the land is close to a city, residential possibilities exist.
Pines: Thriving forests are available in the mountain region. These forests, for example Little Cottonwood Canyon, are a beautiful sight in the summer and also provide great hunting and residential options.
The northern center of the state also provides options for skiing as the Wasatch Range is often covered in snow. The west is where the deserts are found. Southern areas of the state are covered in sandstone. If youre searching for land opportunities that will provide the utmost in privacy, Utah is the ideal location. Much of the land is still owned by the government and is designated to national forests.
A very unique reason to buy property in Utah is its abundance of minerals. Unlike other states, Utah often boasts including mineral rights with the sale of land. With a diverse landscape, many of these lands have the potential to produce valuable minerals to the owner. This would allow for unforeseen profits to be made if minerals of value were found.
One of the major considerations is that most properties exclude the rights to natural gas and crude oil in the sale. In the event that oil is struck, the land owner would not be the beneficiary, but there are other considerations.
If oil is struck, you as the land owner, do not need to grant access to your property. Oil that is struck in the middle of the property would require major piping systems that cannot disrupt your land. In effect, you can earn a substantial profit by either selling the land or by providing an agreement wherein you are paid monthly for access to the property.
Minerals that are often found in the region are topaz, silver, azurite and emeralds.
Statistics from 2013 show that there are just over 1 million housing units in the state. These units are averaging a price of $217,000. The number of available housing units rose by over 120,000 in the last 2 years.
For an investor or land owner who wants to buy property within the state, it is important to note that 70.4 percent of people own a home in the state. This is 5 percent higher than the national average. Farm and ranch houses are among the most popular in the state. Roughly 21 percent of all housing units are multi-unit structures. Investors that want to earn rental income will find that Utah is a great state to invest in.
Properties within 25 30 minutes from commercial or city centers is best. The average commute to work in the state is 22 minutes, so properties closer to major employment centers are ideal.
Financing is available on a lot of land for sale in Utah. Prices are considerably cheaper when cash sales are made. The payment options available will vary from one property to the next.
Taxes in the state, especially in more rural areas, are very low, adding to the appeal of investors. It is not uncommon for many properties, especially in the western region, to only have dirt road access.
Utilities may or may not be available. Contacting the County Assessor is the best option to determine if your desired plot of Utah land has utilities available, or if the utilities will need to be ran to the property at your expense.
Diverse Land Opportunities
Cheap land in Utah is often found in areas where the climate is more arid, but that is not the only land available. From an investors perspective, Utah is one of the states that seemingly has it all. Land opportunities are as follows:
Desert: The area with the most affordable land. The desert areas provide beautiful sights and hot, dry climates. These areas have several dozens of acre opportunities, but the climate does not provide a welcoming environment for all. Hunting, fishing and hiking is a big draw in the desert areas, but if the land is close to a city, residential possibilities exist.
Pines: Thriving forests are available in the mountain region. These forests, for example Little Cottonwood Canyon, are a beautiful sight in the summer and also provide great hunting and residential options.
The northern center of the state also provides options for skiing as the Wasatch Range is often covered in snow. The west is where the deserts are found. Southern areas of the state are covered in sandstone. If youre searching for land opportunities that will provide the utmost in privacy, Utah is the ideal location. Much of the land is still owned by the government and is designated to national forests.
Mineral Abundance
A very unique reason to buy property in Utah is its abundance of minerals. Unlike other states, Utah often boasts including mineral rights with the sale of land. With a diverse landscape, many of these lands have the potential to produce valuable minerals to the owner. This would allow for unforeseen profits to be made if minerals of value were found.
One of the major considerations is that most properties exclude the rights to natural gas and crude oil in the sale. In the event that oil is struck, the land owner would not be the beneficiary, but there are other considerations.
If oil is struck, you as the land owner, do not need to grant access to your property. Oil that is struck in the middle of the property would require major piping systems that cannot disrupt your land. In effect, you can earn a substantial profit by either selling the land or by providing an agreement wherein you are paid monthly for access to the property.
Minerals that are often found in the region are topaz, silver, azurite and emeralds.
Utah Housing Information
Statistics from 2013 show that there are just over 1 million housing units in the state. These units are averaging a price of $217,000. The number of available housing units rose by over 120,000 in the last 2 years.
For an investor or land owner who wants to buy property within the state, it is important to note that 70.4 percent of people own a home in the state. This is 5 percent higher than the national average. Farm and ranch houses are among the most popular in the state. Roughly 21 percent of all housing units are multi-unit structures. Investors that want to earn rental income will find that Utah is a great state to invest in.
Properties within 25 30 minutes from commercial or city centers is best. The average commute to work in the state is 22 minutes, so properties closer to major employment centers are ideal.
Financing is available on a lot of land for sale in Utah. Prices are considerably cheaper when cash sales are made. The payment options available will vary from one property to the next.
Taxes in the state, especially in more rural areas, are very low, adding to the appeal of investors. It is not uncommon for many properties, especially in the western region, to only have dirt road access.
Utilities may or may not be available. Contacting the County Assessor is the best option to determine if your desired plot of Utah land has utilities available, or if the utilities will need to be ran to the property at your expense.
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