Published on Saturday, December 13, 2014 by Land Century
Are these deals too good to be true? No, but you need to know what to look for in the ideal piece of land.
Daytona Beach, FL Land Options
There are many land options to consider when making your purchase. The following three will encompass the vast majority of land youll be able to purchase.
Residential lots for sale in Daytona Beach are common. These lots are ideal for anyone looking to build a home on their land and may or may not come with:
- Paved roads
- Sewer and water connections
- Utility connections
If you plan on buying a lot, it is much more beneficial to have a lot that already has sewer and water available. Not only will this allow for the building process to move along faster, but it will also lower your overall financial burden as a result.
One thing youll want to remember is that most residential lots will not allow mobile homes to be parked on a property for longer than 14 days. If you plan on placing a mobile home on the lot, youll need to apply for a certificate of occupancy with the county to allow you to legally keep the mobile home on the lot.
Youll want to pay special attention to commercial lots. Oftentimes, these properties are more expensive, but if youre planning on building and renting out office space, this is a very lucrative investment.
Daytona Beach Florida has vacant land that is readily available and priced well below market value. These lots are not in the best of shape, but their lower cost is often enough to entice an investor to purchase the land.
Vacant lots do not have buildings on them, but they also have not been kept up. Many of these properties will have trash left behind or dumped there requiring some level of cleanup as the new owner. Youll want to view these lots before purchasing to fully understand the extent of the upkeep needed to get the property prepared for building.
There are a few hotspots that every investor should know about. These spots include the following:
- The Beach: If a lot is on the beach, it will be substantially higher in price. Daytona is known for their amazing beaches and any property located close to or directly on the oceanfront are going to provide substantially higher returns if developed.
- Halifax River: Floridians love their water. The hot weather makes any property with water a major asset. The Halifax River is large and one of the hotspots in the area. Any lots on the river will present a very profitable opportunity for buyers.
What to do in Daytona
The most obvious is the speedway of course. Car racing isnt for everyone but it is an experience you will never forget. The excitement is like electricity in the air but bring ear plugs. It is loud.
The beaches are famous for their beauty and the fact that you can drive on them. It is so convenient to have your car so nearby. You dont have to carry everything down to the water and when you are tired are ready to go home just hopping in your vehicle is a gift. The city takes great pride in keeping their beach areas clean and safe. You can always find lifeguards available.
Windsurfing and kitesurfing as well as regular surfing are one of the most popular outdoor activities. You can rent the equipment so there isnt a huge investment.
Not everyone realizes that Daytona is also the site for the LPGA International. Golf is just as popular as swimming in Florida and there are several challenging courses to choose from.
The Ponce De Leon lighthouse still stands in Daytona and offers visitors a glimpse into the past. You wont believe how many rooms there are in a lighthouse, it is unbelievable. When you finish the tour, get a grouper sandwich at the restaurant next door. It is the best ever!
The city itself used to be known as one of the best places to go for spring break. Now, the city has become more family-friendly and sees less of the spring break crowd than it had a few decades ago. Now, youll find beautiful restaurants with ocean views and hotels offering the best amenities in the state versus rowdy kids getting away for the season.
There are numerous buying options when considering Daytona Beach acres for sale:
- Cash: The absolute cheapest option. If you want to own a piece of property at the lowest cost possible, youll need to pay cash. This allows for a must faster transaction and will allow you to negotiate rock-bottom prices as a result.
- Financing: Sellers are often willing to provide financing on a property. Seller financing will often come with lower interest rates than that of a traditional lender, but their terms are often 60 months or less. While more costly than cash, financing is a great way to buy land in Daytona.
Lots in the area are available for less than $5,000 in most cases with many lots going between $4,000 and $4,500. For a piece of land in such a popular city, these prices are simply too low to ignore.
Daytona is home to 61,000 people and has something for everyone. Whether you plan on building your own home or you want to rent the property, youll find that vacant land in Daytona will provide you with a huge return on your investment.
As of 2012, the median house was priced at $112,000 in the area, but this figure also includes condos which are priced much lower than a detached home. Median rent in the area was $762 during the same time period. These values are up from 2000 where the median price for a home in the area was $74,700.