Selling my 10 acres of land or put a rental on it

[Sara Blatz]

My husband and I own a 10acre piece of land.

Which would be a better return on investment?

Selling it?

Or putting a mobile home on it and renting it out?

Because right now it’s just an empty piece of land and putting a mobile home or something of that sort on it would also cost more.

Any advice is appreciated.

[Rachel H.]

@Sara Blatz You may want to first figure out what you can and can't do with it. Check with your local zoning office to see if you're able to put mobile homes on that piece of land. Have your parcel number and legal description. If you have that information ready when you call, they should be able to look it up. 

From there, ask them how many mobile homes you can put on your land and what restrictions exist for doing what you want to do. If you can put mobile homes on your land, then you'll have to start figuring in costs to acquire the homes, pay for the move, and hook ups (i.e. water, electrical, gas, etc). 

Also, if the land needs to be developed you'll have to look into costs to add electricity, water, roads, etc. 

Hope that helps!