Make Money On Your Land
Updated: Dec 30, 2019
If you own a farm or simply have a lot of open space on your property, you may be wondering what you can do with that unused acreage or those rundown outbuildings. These are a few easy ways to make money on raw land whether you own land in Maryland or elsewhere.
Utilize Your Acreage. Land doesn’t always perc (check out my article on buying land to learn more) so sometimes landowners end up with raw and vacant land. Never fear! There are a million ways to rent out your unused land for the day or even for an entire season.
Rent to Farmers. Allowing farmers to use your land to grow crops or hay is a great way to put every last inch of your property to use. Be aware that some crops have more aesthetic value than others, if that is a concern. Depending upon where you live, you may find that there are added tax benefits. The AgReserve in Montgomery County, Maryland is one such place.
Rent to Beekeepers. Bees are in trouble and if your land hasn’t been exposed to some of the pesticides responsible for Colony Collapse Disorder (CCD), now is your time to shine. You can rent your land to beekeepers to help save the bees and our produce. Visit The American Bee Project to learn more about how to rent out your land and reap the ~tax benefits~ of becoming a champion for all beekind. Fresh honey is great too!
Rent to Dog Trials. Love dogs? Organizations often need space to practice and hold competitions. Rent your property out for the day and enjoy all of the four-legged visitors. This is a great way to make money on raw land if you love dogs.
Rent to Weddings. Barn weddings have been very much in vogue for some time now so this may seem like an obvious one. If you have no use for that beautiful barn or you pride yourself on your stellar landscaping, renting out space for weddings can be a lucrative venture. Keep in mind that while this is likely one of the most lucrative options, it is also likely one of the most stressful. Wedding planning doesn’t often bring out the best in people.
Get In Touch With Your Creative Side. Crafting isn’t for everybody, but if you can’t wait to pick up the glue gun then there are some seasonal projects you may be able to put together and sell for a small profit.
Homemade Décor. An abundance of evergreens? Make some holiday wreaths.Wildflowers taking over your backyard? Spring bouquets make lovely centerpieces. Even twigs can be engineered to create some spooky wreaths forHalloween. Get on Pinterest and do your worst.
Clean Up Your Property. Don’t spend another minute looking at your collapsing barns and wondering how much effort it would take to fix them up. In fact, certain types of wood are integral to the restoration of historical buildings and are quite valuable.
Reclaimed Barn Wood. While century old bank barns and other outbuildings that have been well cared for can make awesome wedding venues and refurbished workspaces, many are left to deteriorate and eventually become eyesores. The good news is that people will pay a lot of money for reclaimed barn wood. Don’t pay for demolition and removal. In fact, you shouldn’t even have to lift a finger beyond picking up the phone and calling a lumberyard to come relieve you of your valuable goods.
Create A Community. I’ve met a few landowners who have rented out space on their land to the community. Take advantage of the popularity of homesteading and consider renting shares in livestock or gardens.
Livestock. Not everyone has the space or the time to keep livestock, such as chickens. Consider renting by the coop. This way your community will have access to fresh, free-range, and sustainable meat and eggs.
Gardens. Community gardens and Community Supported Agriculture (CSAs) are quite popular. Allowing people to rent a small plot to grow fruits and vegetables or a share in your farm might be an excellent way to make a bit of money on your land and feel good about it.
Buying land in Maryland, or anywhere really, can be a gamble. Sometimes land isn’t able to be used for the owner’s intended purpose and many property owners find that the cost and time it takes to maintain land isn’t worth it to them so it sits unused. These tips should be able to give you an idea of what you can do to make money on your land.
Special thanks to professional equestrian, Hilary Moore Hebert. She owns and operates her 30-acre farm out of Germantown, Maryland. Visit her website at www.mooredressage.com to learn more.