Inheritance is the number one way that people come to own land, and if you are non-experienced in land investment, why hold on to it? Many people inherit land all the time. Then their land is probably sitting around and is of no use to those who inherited it. So selling it can at least make you a nice chunk of change!
Or maybe you purchased a few extra acres when you bought your lot thinking it was a great deal at the time. Your house is built and you’re all settled in, expanded as much as you need or want to. So now you don't have any use for the extra acreage. So what can you do with it? Sell it! I mean after all, if you aren’t going to use the land itself, you can probably use the extra cash, right? If you don't have any plans or the money to develop it, then sell it to somebody who can put it to good use. You can make some money off of something that you own and have no idea what to do with it. Somewhere, there is somebody probably looking for vacant land at a good deal!
Perhaps back a few years when the economy was better, you purchased a parcel of land with the intentions to flip it. You thought it was a good investment. So now it is just sitting around costing you tax money not to mention the headache of upkeep too. So why not sell it? Don’t be one of these that hang on to land for too long. Most people think that selling land is hard to do because they think most buyers of land want structures already on it. So if you don’t have the money or the know how to develop this land, you may stand to reap a nice profit.
Regardless of how you came to own the land, selling it isn't always an easy decision. Even if you know that it is probably the best decision, you need to make sure you have a good case to persuade yourself. Land investment is not for everyone. So if you have other ideas for investment but don’t have the cash flow necessary to make them happen, selling your land may be a worthy trade-off.
Not only by selling it can you get some cash, but you will get a monkey off of your back too! To then you can take the funds gained from the sell and direct your efforts elsewhere. Maybe you want to buy your first house or maybe you have a child about to go to college. Or you and your spouse are about to retire and want to buy a boat and sail around the world! For whatever your reason, selling your land can give you a boost in that direction.