A Guide to Buying Land for Sale in Montana
Specializes in providing actionable insights into the commercial real estate space for investors, brokers, lessors, and lessees. He covers quarterly market data reports, investment strategies, how-to guides, and top-down perspectives on market movements.
This article was updated on 8/08/2023.
Because of Montana's highly sought-after natural resources and terrain, you can scoop up a valuable piece of land in Big Sky Country for less than the price of a new car and watch its value appreciate over time. Oh, and you won't burn a hole in your wallet paying property taxes, either: Montana has an effective real estate tax rate cheaper than that of 30 other states.
"The Treasure State" is still largely driven by its agriculture and continues to attract many commercial real estate investors looking to buy land for sale in Montana. In 2018, 62% of Montana's land housed farms (over 26,000 of them). The average farm size was about 2,164 acres and the state produced about $3.6 billion in agricultural cash receipts. The farm real estate value per acre in Montana in 2018 was about $2,850 and the state sports a total acreage of 93.149 million.
So, it's no secret that agriculture is king in Montana, making it one of the best places in the country to buy land for sale.
#1 – Decide Your Intended Purpose
Before doing any property research or contacting any brokers, you should specifically discern what you want to use your newfound Montana land for sale for. This may change along the way, but establish a starting point first. Are you going to lease the land to hunters and farmers or commercial tenants? Are you going to build your own investment properties on your Montana land for sale or lease the land to other builders?
Establish your "why" first before doing anything else.
#2 – Research Your Prospective Land Thoroughly
Yes, agriculture is king in Montana. But there's a lot to learn about each lot and parcel. You'll want to put plenty of time aside to spend in Google Earth and Google Maps to examine the land for sale in Montana that you're eyeing up. Write down what you like and don't like about everything you notice so you can bring all your questions to an experienced broker.
You can also browse land for sale in Montana right here on the MyEListing.com website totally for free. Simply type in what you're looking for and where it's located and you'll see a list of available land for sale in Montana as well as important property information for each listing, including size in acres, land square footage, and who to contact with questions.
Take some time to research surrounding neighborhoods, proximity to popular attractions, and what the land might be best used for. Location is key.
For instance, if you're looking to purchase land for sale in Montana so you can lease it to commercial tenants, you may want to research mixed-use land in Montana that's close to or in the middle of an urbanized area so tenants can remain close by to areas of interest.
Take Note of Property Rights
You'll also want to pay great attention to the following when researching land for sale in Montana:
- Mineral rights;
- Water rights;
- Floodplain status;
- Zoning laws;
- And more.
These are important property characteristics you should never overlook. You should also research and see if there are any existing leases currently tied to the property.
#3 – Connect With an Experienced Commercial Broker
Once you've picked out a few plots of land for sale in Montana that interest you, the next step is to connect with an experienced commercial broker. While you can go about buying land for sale in Montana on your own, working with a commercial real estate broker can help you steer clear of bad deals, navigate agreements, and win you favorable terms.
Benefits of Working with a Broker
Some other benefits of working with a commercial broker when buying land for sale in Montana include:
- Access to Accurate Market Data: Some commercial real estate market data is only available to brokers because brokers have to complete additional training and hours of work in order to achieve broker status. This type of access will help you save time and money in the long run.
- Intimate Market Knowledge: A commercial real estate broker who specializes in land in Montana will know the ins and outs of the market. Alongside their access to market data, their "street cred" will prove valuable to you in the long run.
- Negotiating Power: A commercial broker will have many hours of training and experience in negotiating deals, another valuable asset to you when setting out to buy land for sale in Montana.
Commercial brokers can list properties for free right here on the MyEListing.com website.
List & Look for Land for Sale in Montana on MyEListing.com for Free!
Brokers and investors alike can browse and list land for sale in Montana completely for free. You can set up customized property notifications and conduct advanced searches.
Take a look and see for yourself!
Other recent articles
Article Search
Share
All Article Categories
