I have a piece of land (9.75 acres) which i recently subdivided by building a road will the value increase?

Question

I am interested in finding out how much (%) would the property increase by if at all . Blacktop road with water line

Answer 1

just because you divided your land with a road doesn't mean that it is subdivided. you have to have a surveyor from your county courthouse come out and do that for you, so it will be taxed separately. if you have already done this then you can contact a real estate company and have the lots listed for sale. an individual or builder that wants the land to put a home, office, etc. on it can then come along and buy it. to figure out how much it has increased you will have to call an appraiser or a realtor and they will be able to help you with how much it is worth. as for the property being worth more as multiple parcels, yes they will be. example (im just using round numbers) your 9.75 acres as one parcel my be worth $50,000, but as 2 lots each parcel wont be worth $25,000 they may be worth $30-35,000. giving you a $10-20,000 increase. i hope i was able to help you. if you have anymore questions feel free to email me at [e-mail]

Answer 2

Depending on where you are, putting the road and water line in doesn't necessarily increase the value. You'll want to get free market analysis from local builders in your area, they are probably the only ones who would want it to built homes on.. Now if you were a real estate agent you could list the homes with the builders then make commissions on them when they sold, on top of the money you made selling them the subdivision in the first place. ;-)