Many buyers are seeking Charlotte Real Estate with several acres. Yes, as Charlotte continues to grow this becomes more and more of a commodity. many people do have trouble understanding the value of land. Yes, it is confusing but if your are seeking such real estate then you really need to understand the market value of Charlotte property.
Let's say that you have 5 acres of land in Charlotte. This could be one home. Let's assume it will be in an area with million dollar homes (such as Myers Park or Ballantyne). The value of a lot would be closer to $1,000,000 with an older home with a value of $200,000. The seller is not going to "sell" the property based on the value of the home. You will be paying the premium for the land.
Typically, the value of the land (when properly utilized) is 20% of the total value of the expected/typical home in the immediate area/neighborhood.
A single lot in South Charlotte sells for about $200,00. That could be for a lot as small as .5 acres! If that 10 acre parcel could support 20 homes than the lot would be valued at 2,000,000! Now if you owned 10 acres of land with a small farm house, would you sell it for $200,000 or $2,000,000? Keep in mind that $200,000 a lot is typically for after the land is developed and ready to build. You can not expect the buyer to pay developed lot priced for raw land but the value is there.
Now keep in mind that Charlotte Real Estate property value is based upon "current" market value of the land. What would a willingf seller be will to accept ad a willng buyer be willing to pay for the property? Prices for Charlotte Land for Sale vary dramatically; the actual sales price is based on many factors. I can help sort through the complexity of varying land values in the greater Charlotte Real Estate market. Call Rick Waite @ 704.770.6559 or visit Charlotte Real Estate and together we will deterime a fair price you could expect to receive when selling your property.
