AD | People have often said that land is the best investment in the world because it’s the one thing they’re not making more of. But you may not be aware of is that when you’re in the market, you could find Kentucky land for sale that may meet all of your needs and more.
There are many benefits to buying land in Kentucky, including its proximity to major cities, it’s varied geography, and the potential to see a great return on your investment. When you’re looking for Kentucky land for sale, these are the things you’re going to want to look for.
Low Costs
Kentucky is a far more affordable state to live in than many others in the country. The median value of a home in Kentucky is around $146,000 While the median value for the United States as a whole is just over $247,000. The cost of living is much lower in Kentucky than elsewhere, which means you could be on the lookout for solid Investments at a far lower price than in other states.
Tax Breaks
Kentucky offers a number of financial incentives for those who buy land there. Farmers who sell their land to New farmers are able to receive significant tax breaks up to $25,000 per year. In addition, Kentucky offers low sales tax and low property taxes, which further incentivize the purchase of land that you’re looking to buy there.
Specific Use
Make sure you know ahead of time what kind of land you’re looking for and what kind may still suit your needs. Kentucky has lots of land that can be used for farming, hunting, commercial development, or residential development. Depending on your needs, you could get the same size plot of land for much less money if it’s been designated for a purpose other than what you had originally intended.
Location
Kentucky is very conveniently and strategically located in reasonable proximity to a number of major cities in nearby States. Be on the lookout for land that is easily accessible from places like St. Louis and Nashville. The great plot of land could offer you the full rural experience while being remarkably close to major urban centers.
Income Potential
Kentucky produces 95% of the world’s bourbon. That works out to a value of $8.6 billion for the state. When you’re looking for land in Kentucky, keep an eye out for fertile farmland that could be used for growing crops like wheat and corn, which are used in the bourbon industry and can make you a tidy return on investment.
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