Land has long been considered a purchase to be made only by the wealthiest of investors. While this may have been the truth in the past, it simply isn’t the case anymore. Land is one of the smartest investments around, especially in these tough economic times when prices are at their lowest in years. Not only is land a good investment right now because of the great value you’re receiving, but also because of its’ versatility. Many folks buy land because of the tax benefits. Others purchase land simply hoping for its’ value to increase over time, and others purchase it just to use it! If you own land the right way, you can maximize its’ value and make it work for you.

There are many different things to keep in mind when purchasing land. What type of land is it? How is the land zoned? Where is the land located? What is its’ assessed value, and as a result of that assessed value, what will the tax burden look like? The answers to these questions will all be vital in the true value of the land you will be purchasing.

Many folks feel like they are getting a deal when purchasing tax liens or tax deeds, but costs can grow exponentially based on a variety of factors, including but not limited to back taxes, legal filings, renovations, and various government fees. You may also find it less expensive to buy real estate through a land wholesaler, rather than purchasing land from the county that may have accrued a great deal of charges.

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“Moscow aside, if you look at central and eastern Europe, Bucharest is probably the biggest and most interesting opportunity for property investors right now,” says Edit Vesser, corporate director for CB Richard Ellis in Bucharest in an article recently published by the esteemed Irish Times.

In February 2005, I first alerted readers of Escape Artist to the incredible potential latent in the Eastern European country of Romania. Several readers who contacted me purchased land through a realtor that I advised them of in an area outside of the city limits of Bucharest at 40 Euro per square meter. That land today is now fetching an estimated 200 Euro per square meter.

I was cautioned by colleagues to refrain from quoting the above figures as they seem quite sensational. Indeed, they are representative of unique successes and do not represent the average gain to be expected on property held in the Bucharest area for less then one year. However, such gains are possible and it is not uncommon to hear of such success stories occurring from transactions made on the current market.

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I have to admit it. I had almost no knowledge of the country of Romania just five short years ago, when I came here for the first time. What came to my mind were images of Dracula, Frankenstein, and under-cared for orphaned children, the kind that were featured in fund-raising specials that appeared on television when I was a kid. At least I can say that I knew for sure that it existed, and so did it’s province of Transylvania. That’s partially contrary to what I was taught in elementary school, by the way, when our teacher assured us that Transylvania was only a storybook land and therefore we need not be frightened that the horrible creatures that inhabit it actually exist!

Today, five years later, I have a radically different and much more well-informed
view of Romania. The things that used to come to mind about this country,
rarely do anymore. When I think back about my old preconceptions of Romania,
it never ceases to take me aback the great difference between the infamous
legends and surprising reality about this country.

Now, instead, I am captured by many of the same things that ancient Roman emperors like Cesar and Napoleon found so alluring about this place. (Romania was a part of the Roman Empire and takes it name from the Latin word for Rome.) From incredible natural resources to majestic mountain and seaside landscapes, Romania is a place that has a little of everything you would find elsewhere and a number of things you can’t find anywhere else. And as for Transylvania, my teacher was right on one point – it is a storybook land- but, on the contrary, for it’s beauty and that of it’s people.

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