As the first human journeys to Mars become a reality, many of us are left wondering if we will have an opportunity to explore space ourselves. Many people are excited at the idea of owning property on other planets, especially since it is likely that humans will be living on Mars permanently in about four decades. And while most of us don’t yet know how to buy a property on Mars, there are a few groups that have the expertise to help you buy land on Mars.
If you’re wondering who can answer all your questions about buying and gifting property on Mars, here is a list of seven questions that can help you plan for this exciting moment in human history:
- What is the legality of buying property on Mars?
The Outer Space Treaty, ratified by 105 countries, prohibits any nation from claiming celestial bodies. However, the treaty allows private ownership of land on Mars or other planets if bought or gifted for scientific purposes.
- How much will a piece of Mars cost me?
While it may be difficult to give an accurate estimate, the average price for one acre of Martian land is about $20 million. However, this number can fluctuate depending on the different real estate agents and what they offer.
- What should I expect from my realtor?
When buying property on Mars, you should expect a realtor to explain all the options available and give you a fair assessment of what your land will be worth in the future. Also, make sure that they provide you with the service that suits your needs.
- Will I have to pay taxes on my Martian property?
In accordance with United States tax law, any income from the extraterrestrial activity is considered “from the Outer Space Treaty” and therefore taxable. However, space-related income comes with a few exceptions. So if you’re going to buy a plot on Mars, make sure that you have your realtor help you understand what tax policies apply to your transaction.
- Which real estate company can I trust to assist me with buying property on Mars?
Several companies offer their services by helping you buy property on Mars, but make sure that the company is well qualified before giving them your money.
- Am I qualified to buy property on Mars?
If you are a US citizen, then the answer is yes. However, if you plan to gift your land to someone else or sell it, that person must also meet the same requirements.
- What is the next step for me if I want to buy Martian land?
The first thing you will need to contact is a real estate company that offers these services. They will guide you through the process and ensure that every detail regarding your transactions is taken care of.
In conclusion, most people who have bought property on Mars and other bodies in space agree that it has been a positive experience. So, if you are thinking about buying or gifting land on another planet, make sure to contact a real estate company today so you can start planning for your future on Mars!