If you are planning to buy land in Ohio, you may be probably asking yourself whether owning land in Ohio is worth it. Well, this article has the answers.
Is owning land in Ohio worth it? Is it a sound investment decision? What are the pros and cons of owning land in Ohio? Is Ohio a nice place to stay? We will answer all these questions in this article.
Owning land in Ohio comes with a wide range of benefits. Besides the stunningly beautiful landscapes that you will enjoy in this state, owning land in Ohio is a solid investment. And if you decide to settle here, there are plenty of opportunities and the cost of living is affordable.
In this article, we will take a closer look at the pros and cons of owning land in Ohio. So, whether you are planning to purchase land in Ohio for prospecting or development, this guide will provide you with all the information you need to own land in Ohio or not.
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If you are looking to enjoy the quiet country life while being close to a city, then Ohio should be at the top of your list. With over 130 nature preserves, more than 70 state parks, and picturesque waterfalls, Ohio presents the ideal location for those who love spending time close to nature. But as you may already know, there’s nothing like a perfect location. Land ownership in Ohio, just like owning land in any other place, comes with its fair share of pros and cons.
Pros of Owning Land in Ohio
You may be probably asking yourself why you should own land in Ohio, instead of any other state. Well, here are a couple of reasons why owning land in Ohio will be a great investment for you.
Great Farming Potential
Ohio is one of the leading agricultural states in the country. It ranks 10 in the country when it comes to producing various farm commodities soybean, cheese and corn. This state also ranks among the 10 in animal production. It’s number two for egg production and top 10 for pork production.
Furthermore, this state operates the largest Pizza plant in the world – General Mills, Wellston. So, if you are looking to venture into farming and you are looking for a place to purchase land, then Ohio will be the ideal choice. The infrastructure is already there to support your farming ambitions.
Stunningly Beautiful Landscapes
Something else to love about this state is its beautiful landscapes. From the Great Lakes Plain to the Appalachian Plateau, Till Plains to the Bluegrass Region, not forgetting the Bluegrass Region, Ohio’s landscape is simply a work of art. Also, this state has some of the most beautiful waterfalls in the country. So, if you are an outdoor enthusiast who loves spending time close to nature, then owning land in Ohio will be a great move.
Another benefit of owning land in Ohio is that its land use and zoning regulations are quite flexible. So, if you happen to purchase undeveloped land in this state, you will have the freedom to choose what you want to do with it, as long as you adhere to the local zoning regulations. For instance, you can decide to farm on the land, lease it out to other farmers or develop it per local zoning regulations. You also have the option of leaving the land bare.
Land is a finite resource. In short, you can’t produce it in a factory. And this means that your piece of land in Ohio will be constantly gaining value, whether you develop it or not. By owning land in Ohio, you will have a secure investment, which won’t lose value, regardless of how long it remains undeveloped. Furthermore, you won’t have to worry about maintenance, since vacant land doesn’t need any type of maintenance. Unlike a car that loses value with time or requires constant maintenance, you won’t have to worry about such issues when it comes to owning land in Ohio.
Ohio has one of the largest state economies in the U.S. In fact, it’s currently ranked at position five, controlling approximately 5.5% of the U.S economy. Also, its economy is constantly growing, thanks to its strong agricultural and manufacturing industries.
And with a strong economy, you can expect more job opportunities, and the income will be decent. So, if you happen to purchase land in Ohio and decide to settle here, the chances of getting a well-paying job are extremely high. Hence, in case you don’t want to venture into farming, you won’t struggle to land a job in this state, since opportunities are plenty.
Affordable Cost of Living
When it comes to buying land for settling, one of the main factors to consider is the cost of living. Fortunately, this will not be an issue in Ohio. The cost of living in Ohio is affordable for most people. Even if you decide to own land in some of its largest cities like Columbus, Cleveland, or Cincinnati, the cost of living will still be within the affordable range.
Access to Major Cities
While Ohio is a great state to buy land and settle in, you may sometimes decide to get away from the state, especially during its harsh winters. Fortunately, Ohio has great access to some of the major cities in the country. You can easily hop a plane to Los Angeles, California or Orlando, New York.
Cons of Owning Land in Ohio
While owning land in Ohio comes with numerous benefits, this state also has some downsides. In this section, we will take a closer look at some of the potential cons of buying land in Ohio.
Ohio is one of the coldest states in the country. Its winters are extremely cold, characterized by lots of snow. So, once the winters come around, it means that you will be spending the majority of your days indoors. Hence, if you prefer living in warmer climates, then owning land in Ohio may not be the best move for you. While its autumns and summers are great, its winters are labeled among the harshest.
High Property Taxes
The average property tax in this state is approximately 1.5%, which is the 13th highest in the country. Hence, if you own land in this state, you will be paying a much higher property tax rate, compared to owning land in the majority of the other states. So, if high property taxes are a concern for you, then owning land in Ohio may not be the best option for you. And you should consider exploring other locations.
Considerations when Buying Land in Ohio
Without a doubt, the pros of owning land in Ohio outweigh the cons by far. But, before you rush to buy land in Ohio, you need to consider various factors, to ensure you end up with the best piece of land. Here are some considerations when buying land in Ohio.
Zoning Requirements and Regulations
Different areas have different zoning restrictions and regulations. So, before you buy land in Ohio, you need to consider the zoning requirements of the particular piece of land that you want to buy.
For instance, some areas are zoned for farming while others are zoned for residential use only. Others are zoned for commercial developments. And as you may expect, you cannot undertake large-scale commercial developments in an area zoned for farming. So, conduct adequate research to ensure the land you intend to buy is zoned for your preferred use.
You also need to consider the soil quality of the land you want to purchase. As you may expect, the soil quality affects almost everything – from the type of animals that it can support, crops you can grow as well as the buildings you can put up.
To this end, you will need to hire a professional soil tester, to run some tests for you. From the results of those tests, it will be easy to determine whether the land you want to buy can support the type of development you want on the farm.
Unless you are buying land purely for prospecting, you may sometimes want to develop the land you will buy in the future. For example, you may decide to plant some crops or raise animals on the property. To this end, you need to know where your water will come from, how your property will be powered, as well as access to waste, gas or phone.
Some areas tend to be prone to natural hazards like flooding, hailstorms, and forest fires, among others. So, make sure you first determine whether the land you intend to buy has such issues.
Wrapping It Up
Ohio is a great place to purchase and own land. The economy is vibrant, the cost of living is affordable and your piece of land will be constantly gaining value all through. So, if you are looking to own buy and own land in Ohio, you will not regret your decision.
About THE AUTHOR
We loved family’s outdoor adventures so much we started a land business just to help others buy their own land. We’ve sold to dozens of people from ATV weekend warriors to camping enthusiasts to retired truck drivers. Our inventory spans five western states. We’ve been trained by experience, land acquisition courses, and hundreds of hours meeting with county assessors and clerks, zoning officials, realtors, and land investors. We’ve answered hundreds of questions from people regarding the buying and use of land.Read More About Brittany Melling