When trying to decide where to drill next, you may be faced with the difficult choice of choosing between an unpatented versus a patented mining claim. Each present their own advantages and disadvantages, but if you plan remaining on site for a few years’ time, it may be beneficial to buy a patented mining claim at MinesInvest.com. There are a few situations which you’ll need to consider first, before making your decision.
While a patented claim requires a permanent commitment, you own the title to the land. You’ll be able to do whatever you want with it. It won’t be a temporary arrangement where you’ll have consider how much money you’re putting into land where you hold a temporary deed. Any money put into it won’t disappear when you leave. You also won’t be rushed to mine the land. You can hold it for a length of time for surveying, or even as a vacation property.
Many mining sites are held with patents, so this opens up a wide range of choices for you to choose from. You won’t be stuck with the sites that you can only mine temporarily. Your options have significantly increased. A patented mine may not be overworked, as it may have sat on the market for a while before being purchased.
With your own patented mining claim, you can build a cabin or other lodgings on the land. If you hire a large number of miners and drillers to help with your claim, you may be able to attract more skilled people as your site has permanent buildings, rather than tents or trailers. More amenities make your site more attractive to work. Cabins are also great to bring up the family for a vacation or two. If you choose an unpatented claim you will not be allowed to build any cabins or homes on the land. You will only be allowed to bring in tents, trailers, and other types of mobile homes.
While a patented mining claim is going to be more expensive than an unpatented one, the resale value is going to be high. If you’ve added houses, cabins, or buildings, those are going to significantly increase the resale value as well. You’ll have to pay land taxes each year, but your investment is sure to pay off in the long run.
Patented land claims must be surveyed first. When looking to purchase, you’ll be able to search for these mineral surveys on microfiche. There may be a fee attached for viewing, or for making copies, but it will present a good picture of whether it will be a profitable site or not.
There are businesses selling mining claims, so that you won’t need to search all over to find a mine to work. With unpatented claims, you could be wading through hundreds of options, most of which you’ll be required to find on your own.
Purchasing a patented mining claim will allow you to be flexible with your decision, rather than getting an unpatented claim for only a short length of time.