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Owning raw land is sensible if you do not need to have an immediate profit from it. You can always build on it later should you decide to live on it, or else erect a home on it and rent it out. Raw land makes financial sense if you buy it in locations where there is cheap land and you either pay cash or take out an inexpensive loan. On the other side of the coin, where the land is expensive to buy, such as in the cities or else very popular vacation areas it is far wiser to erect a structure for receiving a source of income. In relation to the value of the property, the cost is negligible as the rental generated could cover costs and provide a good income in an area were there is a high demand for housing.