There was a time when individuals who lived in rural areas, and owned acreage, earned and made their living from their land. During those times, subsistence living was neither a quaint anachronism nor an alternative lifestyle. It was what individuals did. Nowadays, the main reasons for living out in rural areas are different.
The opportunity to see wild animals, such as turkeys, foxes, deer, and songbirds has attracted many to the rural life. The thought of starting a hike from the back door, as well as the peace and quiet of the country life, has attracted most investors and homeowners to purchase land for sale in Montana. Most landowners and investors no longer depend on working on their pieces of land for their livelihoods.
They are able to earn income the way other individuals in cities and suburbs do. This leaves the rural land in an unusual state no longer generating income, and its value may be largely intangible. When the property tax expenses arrive, having a land can prove to be more of a burden to you than a benefit.
Luckily, there are several ways that your rural land can earn a significant amount of money without having to quit your current job. The land opportunities break down into two main streams which are leasing the land to someone or selling products from the land. Here are the main activities that can help you generate money from your rural land.
Recreational Land Use
You can make use of your rural land by converting it into a recreational property. You can do this by investing in sports grounds, parks or museums. Your rural land can be subdivided into two main categories, which include spectator recreation and participant recreation sites. You can also make it an active recreation which includes relaxation and sight-seeing. These two types of recreation point out the difficulties in defining what is meant by land recreation.
For some landowners, it may mean a form of amusement, while for others it could mean a certain type of competition. Still, for other individuals, it could refer to relaxation. The main use of land for such purposes deals with outdoor recreation on various sites with different types of gardening facilities that offer both the relaxation and active recreations, such as tennis courts and outdoor swimming pools. Here are the pros and cons of converting your land into a recreational site.
Advantages of Recreational land
The main advantages of converting your rural land into a recreational site include but are not limited to:
Provides you with the ability to generate money from the facilities
Helps you enjoy excellent outdoors while your investment increases in value
Recreational pieces of land can yield tax benefits
Provides good family enjoyment
Teaches your kids excellent hunting ethics and sportsmanship
The Disadvantages of Recreational Land
Maintenance of the facility and utilities can be troublesome if you do not have good financial plans.
Agricultural Land Use
Land uses for both forestry and agriculture are the major types of industrial land uses which is involved in the development and production of tree-fiber and food as well as renewable energy sources. The type and nature of agriculture and land utilization depends on the crops and agronomic units on your land.
This can vary from the intensively controlled and managed monocultures to more organic units that involve perennial crops, annual crops and the little use of pesticides and fertilizers. Also, the intensity of your land use in forestry or timber production varies from the systems which involve the application of short-rotation plantations and clear-cutting to selection harvesting units with long spaced interventions.
Timber production is among the most common ways of earning income from remote locations. To sell your timber well, you need to understand that its income is periodic and it will take time to sell your timber when looking for the market. Also, you need to understand the value of the trees you have and what you will have in the future. Here are the pros and cons of agricultural land use.
Pros
Timber sales generate income for you and your family
Trees improve the landscape
Trees adapt to climate changes reducing the effects
Farm products provide food for livestock and human beings
Agricultural land use contributes to industrialization
Cons
Fallen trees can affect power lines
Investors will need to invest heavily for them to get high yields
