We frequently get inquiries for cheap land for sale in Nevada, so we thought we would answer some of your questions on our blog to help buyers and sellers. All buyers looking to purchase cheap land need to determine the reason they are looking for this land, i.e. investment, building or simply to be a land owner.
There is land all over the country for sale, but few places as cheap as Nevada. There is a reason behind those cheap prices in Nevada and it goes back to the days of the railroads owning land. You may not know this but up until 20 years ago a majority of the raw land owned in Northern Nevada was controlled by the railroads, that’s right, the railroads controlled over 2 million acres in Nevada alone. Granted there’s much more than 2 million acres in Northern Nevada, as the BLM still controls over 70% of Nevada, but a majority of the private land was controlled by one entity.
For several decades these properties were not being sold, transferred or developed for the mere reason that the railroads were unsure what to do with these assets. The railroads also owned a majority of the mineral rights as well, which they ended up leasing out to Newmont Mining. Newmont runs several mining projects in Northern Nevada through both their corporate office and with joint venture partners.
A public company made an offer to Nevada in the early 90’s to acquire the land and the right, this paving the way for other companies to get involved in the purchase, development and sales of raw land in Nevada. Supply and demand is obviously what controls prices, do releasing several thousand acres to the public created a way for the public to have access to cheap land for sale in Nevada.
Most of the counties in Northern Nevada have now decided to make it nearly impossible to subdivide, so you’ll notice that the supply of smaller 40 acre parcels are becoming scarce. There are still larger 640 acre parcels available, but that too is becoming more scarce as many investors and land bankers have come in to buy this property. It’s our belief that market is slowly leveling out, which will create upside to buyers looking for and buying cheap land for sale in Nevada.
It’s important to understand that there’s still a number of aspects of land that add or detract from the value. A number of these parcels that were sold had difficult or no access. Be sure you have access to your land, by either BLM road or county road. Also, it’s important to research building codes. Many buyers fail to do any due diligence on the building side. Most counties in Northern Nevada have regulations in place to keep owners from destroying the property or surrounding area. And although we don’t always agree with these rules, they are put into place to help keep a level of conformity.
We hope this little history lesson has shed a little light on why we believe there is cheap land for sale in Nevada, but we don’t believe it will continue for much longer. As the supply for this cheap land for sale in Nevada dwindles, we should start to see prices move upwards. Of course, we are taking into consideration and that offers value, i.e. access, power and mineral opportunities.