Reasons to sell vacant land you own are as varied as the number of people that own land. If you are finding yourself in a financial strain due to job loss, this would be a good reason to sell your land. Or perhaps you, your spouse or another family member is having health issues that are running up expenses that insurance doesn’t cover. Or maybe it’s just the economy overall is taking every last dime to survive month after month. Any of these situations would be a good time to sell vacant land you own.
Did you buy the land years ago with plans to build your dream home? Maybe you inherited the land from a family member that you didn’t even know? You could have even received this land as a payment of a debt owed to you. You really didn’t want land on the other side of the country from you, but you took the offer just get something out another deal that went bad. Regardless of the way you came to own the land, you don’t want it or don’t need it any more. This is a good reason to sell any vacant land you own.
Another good point to support selling the vacant land you own is not having to pay property taxes anymore! Not only will you save money by not paying taxes, but you won’t have to pay for upkeep on the land either. Maybe it’s not all year long, but several months out of the year, you have to pay somebody to brush hog and rake that land. That piece of land you never have seen. Or that piece of land you bought on a whim years ago and will never use.
If you bought the land as an investment, well now is the time to sell for sure! The opportunity to name your price and get your investment cost and more back couldn’t be better than right now. You have no plans for this land. You have no needs for this land. However, you could use some cash, right? Take that vacation you and your wife talked about for years. Maybe you always wanted to take a Caribbean Cruise or an Alaskan Cruise?
Maybe your buddy at work has a lead on a great investment that is expected to skyrocket quickly and make everyone lots of money? You would love to get in on that deal, but you don’t have extra cash just lying around. So sell that vacant, raw land that is just sitting there for cash! Make that investment and put that profit up for your retirement years.