SL New Resident Kit - 4.14 - Owning/Renting Land

INTRODUCTION

You have the option of either buying or renting land. You need a Premium Account in order to buy land. In order to rent land, all you need is a Basic Account.


BUYING LAND

You can own up to 512 m2 and not pay anything more than the cost of the land (again, you do need a Premium Account). If you own more than 512 m2, then you will pay a monthly fee called "tier", depending on how much you own. You may also rent land (sometimes with or without houses and furnishings) from land owners. In all cases, prices vary so shop around. However, I highly suggest exploring SL for at least one month before comitting to buying land, but do rent if so inclined as most rentals are weekly.

You can buy mainland or an Island. You can buy mainland either privately from an individual or by way of auction (see below). You can (usually) only buy an Island with complete ownership from Linden Lab (http://secure-web7.secondlife.com/community/land-islands.php). If you "buy" an Island from a private individual, they can revoke land ownership rights. There are cases where an Island purchase can be transferred to you via purchase. Know the difference.

Regardless, when you own land of more than 512 m2, no matter what kind of land, you WILL pay monthly tier fees to Linden Lab. Leasing or renting land from a private individual means you only pay the landlord/lady (owner).

You can search for private land to buy via the [Search] button on the bottom of your screen and the [Land Sales] tab.

You can also buy an entire sim on auction: http://secondlife.com/auctions/ But this can be pricey and the monthly tier fees likewise expensive.

The real commodity is not land, but prims. All items (houses, furnishings, toys etc.) require prims and the more prims at your disposal, the more items you can set up. Buyer beware when shopping -- you'll quickly value high quality and low prim items. Budget about 100 prims for each room in a house (easily). Unfortunately, running out of prims also leads to impulse buying and often a raise in tier fees ;-)


RENTING LAND

For most individuals, renting land that personally appeals is the most cost effective option. There are many benfits to renting including: (1) often cheaper than buying and paying tier, (2) the flexibility of moving if the region no longer appeals, (3) a furnished rental residence precludes the need for you to spend money on furnishings.

Unfortunately there are also some negatives that involve con artists. Ensure the person you are renting from has been in SL for some time and that they are dedicated to providing rentals. Check their profile, ask for references, speak with other residents who rent from them.

Be very careful about "buying" Island property. Unlike mainland, you do not own the Island property you purchase (unless you buy an entire Island). The owner of the Island can set you out on the street, so to speak, and this happens all too often with Island rentals where you are asked to "buy" property and then pay a rental fee.


MAKING MONEY WITH LAND

And finally, a word on making money with your land. You possibly won't. There are dozens of malls, hundreds of rentals, numerous clubs and so forth. Buy land for your enjoyment and have your own money to support it. If you do wish to try and make money with land ownership, do your research and provide something unique and top quality. Themed malls and quality rentals will attract more persons.


ADDITIONAL RESOURCES (DIRECTLY FROM THE SECOND LIFE FORUMS)

Click the notecard(s) below to open and read.

~ Lucrezia Lamont