Land surrounding a residential real estateis usually sold with the property, although it may be divided and sold off separately. Land suitable for residential development may be a plot sized for a single house or a larger area for multiple properties. This type of land can be a good investment, whether you plan to develop the land yourself or sell it on. The land should be sold with planning permission, usually for a specified number and type of properties, and may come with the option of development by a specified building company.