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Advice on land with septic constraints
I recently purchased a duplex on a quarter acre of land with city water and septic. I initially wanted to build another duplex on the land but due to septic constraints, I can't. What are some other things I can do with the remaining portion of the land to bring in more income? Thanks!
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There are several options you can consider to generate additional income from the remaining portion of land on your property:
1. Build an accessory dwelling unit (ADU): An ADU is a smaller, self-contained dwelling unit that can be built on the same lot as an existing home or duplex. Depending on local zoning laws and regulations, you may be able to build an ADU on your property that could be rented out as a separate living space.
2. Create a garden or urban farm: If you enjoy gardening and have a green thumb, you could consider creating a garden or urban farm on the unused portion of your land. You could grow fruits and vegetables to sell at local farmers' markets, or start a subscription-based service that delivers fresh produce to local customers.
3. Rent out the land for storage: If you have a fenced-in portion of your land, you could consider renting it out to tenants for storage purposes. This could include RVs, boats, cars, or other types of vehicles.
4. Install a solar array: Depending on the size and orientation of your property, you may be able to install a solar array on the unused portion of your land. You could sell the energy generated to a local utility or use it to power your own property.
5. Rent out the land for events: If your property is in a desirable location, you could consider renting out the unused land for events such as weddings, parties, or other gatherings. This could provide a lucrative source of income, particularly during the summer months.
Before pursuing any of these options, it's important to conduct thorough research and consult with local zoning and building authorities to ensure that your plans are feasible and comply with any relevant regulations. Additionally, you may want to consult with a local real estate professional or property manager to assess the potential rental income for each option and determine which strategy makes the most sense for your specific property and investment goals.