Maryland is known for its delicious seafood, fishing, historic waterfront towns, and outdoor activities. Opportunities for further education beyond high school abound and the job market is strong, with large businesses including Marriott International and John Hopkins being some of the state's biggest employers. Whether you’re looking to move and start the next chapter of your life in Maryland or you’re just looking for a good spot for your next investment property, it’s hard to go wrong when you buy land in Maryland.
Is Maryland Expensive to Live In?
Maryland can be an expensive place to live, especially when it comes to buying land and procuring housing. While the general cost of living in Maryland is about 16% higher than the national average, housing alone is 44% higher on average in the state. While Maryland is definitely one of the pricier states, there are prime locations you can find that have a lower cost of living than the rest of the state, such as Baltimore City and La Plata.
However, the median salary in the state is the third highest in the United States, so the cost is relative.
How Much Does One Acre of Land Cost in Maryland?
Cheap land for sale in Maryland tends to be in rural and sparsely populated areas. Some areas of the state have undeveloped land priced at under $10,000 per acre. However, the price may vary depending on whether the land is suitable for building, the proximity and availability of utilities, and other factors.
If you’re looking for urban or industrial land to build on, you might end up spending anywhere from $300,000 to $500,000 per acre, and you should expect to pay somewhere around the high end of this price point if you’re planning to buy land in a bigger city such as Baltimore.
That being said, most land in Maryland will fall somewhere in between those two price points per acre. If you’re not sure if you’re getting a good deal for your hard-earned money, it doesn’t hurt to check with a local real estate agent that understands the market trends in the area.
Can You Own Land in Maryland?
Of course you can own land in Maryland! However, there are many things that you’ll want to keep in mind before making a potentially costly purchase of land.
You’ll want to consider what you plan to use the land for and if the area you’re looking in is suitable for the goal. The land itself may not be suitable for building in its current state and you may need to spend a decent sum of money to get the land in a proper condition for building. In addition, you’ll want to ensure that the land you plan to buy is zoned properly for what you want to use it for. For example, you can’t start building a home in a plot of land zoned for commercial use only.
If you’re planning on buying land in a rural area, you’ll likely need to check to see if you can get utilities such as electric, water, and sewer to your property and what the cost of getting such utilities would be.
Owning land in Maryland can be a wonderful opportunity, but if you have the wrong type of land for your goals, it can be frustrating and can cost a lot of money in the long run. The question isn’t whether or not you can own land, but whether you’re buying the right land for you.
Where Can I Buy The Cheapest Land in Maryland?
Rural areas of the state such as Oakland and Chestertown might be your best bet if you’re looking for cheap land for sale in Maryland, as it’s possible to find plots of land for a few thousand dollars.
However, there may be hidden costs associated with cheap land, such as zoning regulations, building permits, and getting basic utilities to the property. After all is said and done, sometimes a cheap plot of land can end up being more expensive than if you had purchased a plot of land at a higher price point in the first place. It’s best to do your research before you make your final decision.
How Do I Claim Land in Maryland?
One way to claim land is to make an adverse possession claim, in which you will need to occupy the land for at least 20 years without a valid title or rental agreement authorizing it, and it must not be a secret from neighbors and those in the community that you are living there. In this case, you can file for a quiet title, which is a lawsuit that establishes ownership of land when the property owner is undetermined. While gaining possession of property in this manner isn’t easy, it is possible to do in some cases.
How Do I Claim Abandoned Property in Maryland?
In this case, abandoned property rarely refers to vacant land. It is usually money that may have been inadvertently forgotten, such as funds left in an old bank account or uncashed checks. To claim such funds as your own, you’ll have to go to the website of the Comptroller of Maryland and fill out the online form. If you prefer to do things the old fashioned way, you can fill out the form and send it through the mail. After that, it should take about eight weeks for you to get your newly claimed property.
Where Should I Look to Buy Land in Maryland?
Nestfully is one of the best places to look when you plan to buy land in Maryland. Our website is designed to minimize stress by eliminating flashy advertisements or distracting information that can otherwise clutter your browsing experience. We know that buying land can be stressful and that there is likely already a lot on your mind, and we want to ensure that your browsing experience is as smooth as can be. Contact one of our friendly agents today with just a few clicks!
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