How to Find Cheap Land in Ohio?

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How to Find Cheap Land in Ohio?

Bart Waldon

With nearly $15 billion generated annually across Ohio’s 15+ million acres dedicated toward thriving agriculture sectors spanning livestock feeding to extensive grain and produce cultivation powers national production chains today, the Buckeye State contains no shortage of rolling rural crop vistas and pasturelands dotting landscapes beyond established metropolitan anchors in Cleveland, Columbus and Cincinnati. But not all desirable zones remain budget friendly to prospective land buyers hoping stake property claims amid one of America’s most economical heartland havens supporting low-cost comfortable lifestyles given housing costs ranking below national averages while offering immense scenic beauty abounding. 

Fortunately, several proven tactics exist helping source cheap land opportunities scattered throughout Ohio if willing searching for unrecognized gems hitting markets occasionally at below-average rates ripe for value enhancement later as market recognition expands eventually.

Ohio’s Diverse Regional Landscapes

Analyzing Ohio’s range of geographic zones constitutes a key first step for prospective land investors determining optimal targets aligning with priorities before exploring pathways securing discounted parcels accordingly.

Major Metro Suburbs 

Areas flanking Cleveland, Columbus and Cincinnati see substantial housing construction with new school and commercial centers unfolding steadily converting former farmlands into residential communities 20-40 miles outward where homebuyers drive accepting longer commute tradeoffs gaining acreage affordably. Target builders buy plots.

Revitalization Opportunity Zones 

Once thriving manufacturing towns like Lima, Mansfield and Steubenville affected by past industrial declines contain emptied urban cores and vacant housing with infrastructure still intact for revival through entrepreneurial millennials reestablishing storefronts, eateries and entertainment venues breathing life returning at affordable levels if acting before speculation recognition spreads broadly across investor circles through location analytics assessments exposing hidden gems still overlooked further by most.

Rural Agricultural Regions 

Vast swaths of central Ohio contain rich pastoral visuals where relatively low-priced farmland and open country acreage deliver peaceful escapes from city hassles for eventual hobby farmers or outdoor enthusiasts on weekends enjoying low-cost idyllic countryside retreats built eventually if securing lands earlier at today’s rates benefiting from long patience holding through years necessary reaching end-goal actualization.

College Town Satellites 

Upstart communities supporting Ohio’s larger State College campuses like Bowling Green, Oxford and Athens undergo student housing booms in consistent waves between academia calendar cycles making well-located rentals and multifamily apartment buildings appealing plays for landlords tapping sustained housing demands fed by degree-seeking population influxes yearly.

Useful Resources Locating Ohio Land Deals

Beyond directly monitoring mainstream real estate listing platforms filtering for rural and agricultural acreage options seeking hidden discount gems, several additional channels provide advantages sourcing off-market opportunities:

Municipal Tax Sales and Lien Auctions 

Local county trustee offices occasionally auction seized lands when owners stop paying levies securing property tax repayment rights for buyers stepping in but requiring sorts clearing defects blocking redevelopment visions later before reselling upgraded lands at profits after making sites viable again.

Bank Foreclosure Listings 

Regional bank REO inventories fluctuate cyclically with economic contractions and mortgage defaults swelling supply intermittent allowing opportunists to score diamond deals. Monitor FDIC-registered institution offerings for openings.

Estate Sales 

Second generation Ohio inheritors occasionally liquidate family real estate assets below fair values simply seeking quick exits and willing accepting reasonable cash offers saving lengthy selling delays unwilling holding assets themselves too long-term.

Supplemental Income Seekers 

Nearing retirement, many aging owners prioritize shedding unused excess acreages better supporting simplified lifestyles going forward rather than managing lands proving burdensome physically only expected worsening until needing accessed someway keeping pace chores there regardless while also holding sentimental attachment severing chunks interwoven fabric sustaining family lineages hundred years previously.

Without question, sourcing discounted land deals demands considerably more effort than buying at listed market prices across popular Ohio destination communities. But investors ready exploring roads less traveled uncover attractive opportunities awaiting recognition by mainstream audiences over the long-term. Apply effort targeting strategic sites first.

Benefits of Buying Land in Ohio

Let's face it, buying land is a big decision. But if you're considering taking the plunge, Ohio might just be the place to do it. From rolling hills to bustling cities, the Buckeye State has a lot going for it. Here's why you might want to consider Ohio for your next land purchase.

Bang for Your Buck

One of the best things about Ohio? You can often get a lot of land without breaking the bank. Sure, prices vary depending on where you're looking, but compared to many other states, Ohio can be a real bargain. This is especially true if you're willing to look in more rural areas. Just keep in mind that land near big cities like Columbus or Cleveland will cost you more. But even then, you might be surprised at how far your dollar can stretch.

A Little Bit of Everything

Ohio's not just cornfields, you know. The state's actually pretty diverse when it comes to landscapes. Up north, you've got Lake Erie with its beaches and islands. Central Ohio's got some great farmland if that's your thing. And down south? You'll find yourself in the foothills of Appalachia with forests and rolling hills. So, whether you want to farm, build a lakeside retreat, or just find a quiet spot in the woods, Ohio's got you covered.

Farming Potential

Speaking of farming, if you've got a green thumb (or want to develop one), Ohio's a great place to do it. The soil's rich, the climate's good, and there's plenty of farming know-how to go around. Corn, soybeans, and wheat are big here, but don't think you're limited to the classics. Ohio's becoming known for things like wineries too. Even if you're just thinking of a big garden or a small hobby farm, the land here can definitely support it.

Location, Location, Location

Ohio's smack in the middle of a lot of things, which can be a huge plus. If you're thinking of using your land for any kind of business, you should know that you can reach a big chunk of the U.S. population within a day's drive from Ohio. That's pretty handy for shipping or distribution.

Four Seasons of Fun

If you like variety in your weather, Ohio's got it. Summers are warm enough for swimming and barbecues. Fall's a beautiful time with all the changing leaves. Winter can bring enough snow for sledding or skiing. And spring? Well, after an Ohio winter, you'll really appreciate those first flowers popping up. Each season brings something new to enjoy on your land.

Looking to the Future

Now, I'm not saying land in Ohio is guaranteed to skyrocket in value, but there's definitely potential. The state's population is growing steadily, and the economy's pretty diverse. If you choose your location wisely, you might see some nice appreciation over time. Just remember to do your homework - look into local development plans and economic trends before you buy.

So, there you have it. Whether you're dreaming of a family homestead, a weekend getaway, or just a solid investment, Ohio's land market is worth a look. It might not be the first place that comes to mind, but it could be just what you're looking for.

Final Thoughts

Finding affordable land in Ohio isn't always easy, but it's definitely possible with some effort and know-how. Your best bet is to explore less populated areas, keep an eye out for auctions, and build relationships with local real estate agents who know the market inside and out. Don't forget to use online tools to your advantage – they can be a goldmine of information. Just remember to do your homework on any property that catches your eye. Look into things like zoning rules, available utilities, and what kind of development might be coming to the area. It might take some time, but with a bit of persistence, you'll likely find a great piece of Ohio land that fits both your vision and your wallet.

Frequently Asked Questions (FAQs)

What's considered "cheap" when it comes to Ohio land? 

It really depends on who you ask, but in general, if you're looking at rural areas, anything under $5,000 an acre is a pretty good deal. For smaller lots, you might be able to snag something for under $20,000.

Where should I look for the most affordable land in Ohio? 

Your best bets are probably going to be in the southern and eastern parts of the state, especially in Appalachian areas. You'll typically find better deals there compared to land near big cities or popular tourist spots.

Are there any downsides to buying cheap land I should watch out for? 

Absolutely. The main things to keep an eye on are whether utilities are available, what the soil quality is like, if there are any zoning issues, and how easy it is to access the property. It's crucial to do your research before buying.

Can I get a loan to buy inexpensive land in Ohio? 

It can be tricky for really low-cost parcels, but it's not impossible. Some lenders offer land loans, or you might look into owner financing. In some cases, a personal loan could work too.

How long does the whole process usually take? 

There's no one-size-fits-all answer here. It could be as quick as a few weeks or drag on for several months. It really depends on what you're looking for and what's available in the market at the time.

Are there hidden costs I should budget for when buying cheap land? 

Definitely. Don't forget about property taxes – they can add up. You might also need to pay for a survey, title insurance, and potentially shell out some cash to get utilities set up or improve road access to the property.

About The Author

Bart Waldon

Bart, co-founder of Land Boss with wife Dallas Waldon, boasts over half a decade in real estate. With 100+ successful land transactions nationwide, his expertise and hands-on approach solidify Land Boss as a leading player in land investment.


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