Invest in Recreational Land for Revenue and Enjoyment


| 8/24/2020 9:31:00 AM


 

Photo by David Mark on Pixabay

Recreational land is an often-overlooked asset or investment. True, you may not be able to use this kind of land to build a home or homestead. However, there are a number of other personal and financial benefits associated with recreational land that you will be missing out on if you write it off too quickly.

What is Recreational Land?

But first, what exactly do we mean by recreational land? Well, it’s land that is used or zoned for recreational purposes, such as camping, fishing, hunting, ATVing, hiking, wildlife preservation, etc.

Depending on the local regulations, recreational land may be developable land that just hasn’t been built on or it may be land that cannot be developed. Because recreational land is unique and often restricted in terms of use, many people don’t realize its value.

But it does have value. Below are a few benefits associated with this asset class.

Tax Deductions



You are probably familiar with the tax benefits associated with a single-family home; however, you may not know that recreational land has tax benefits as well. First of all, the carrying costs associated with the property (property tax, interest, etc) can be deducted under certain circumstances (such as if you itemize your deductions on your tax return).



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