The things you can do with a plot of land are plenty. It mostly depends on the area where the land is located, and your personal standards and opinions. Many people will do anything to own a bit of extra land. So, the few of us who actually have it already, should strive to make the maximum use of what we have.
You could of course sell the land at a higher price than you bought it at, and make some profit. If you are buying a land for the purpose of reselling, make sure you buy it in an area that is currently being developed. An area that is expected to have schools, sports stadiums and commercial offices built in it are expected to increase in value over time.
Building houses with the hope of renting it to someone else, is also a good option. You could build apartments, buildings suitable for office purposes, or even a house of your own. If your financial resources don’t stretch as much to owning an apartment complex right now, you could contact a dual occupancy home builder, rather than building just one house.
Dual occupancy home builders specialize in an ideal house that is one piece on the outside, but can earn two rentals for you from the inside. It reduces risks, earns more rental income and also attracts tax benefits.
If your land is situated in a busy area, you could open up your own parking lot and earn quite a bit. Everybody around town is looking for a place to park their vehicle, and the number of vehicles are only increasing by the day. The land could also be used a storage place for anything, after the right conditions for storage of the particular material are incorporated. This could also include recreational vehicles.
You could also think of live farming such as cattle, fish farming etc. Pet rearing too seems to be a good option. Growing Christmas trees, or any other tree for that matter, could also bring about good income. You could also cut down any trees that are already there, for timbre.
How a about a restaurant? A mini sports complex? A wedding pavilion? You could also try out recreational options like paint ball, go-cart tracks, mini golf etc. You could also invest in some ground mounted solar panels. Your plot of land can also be used for teaching. Either you could do the teaching or you could get someone else to do it. It is an ongoing investment.