How To Sell Your Land For The Most Money
If you are thinking, “It’s time to sell my land!” You need to think about a few things before you really get comfortable with the idea. Remember, land is a serious investment. You want to make sure that you are making the right decision, because if you are not, you could be losing a lot of money.
“I want to sell my land because it’s just sitting there”
This is a pretty common thought that crosses the mind of many land owners. If your land is just sitting around and doing nothing, that does not mean that it is the best time to sell your land. Think about when you bought that land, were you interested in making a quick profit? Or were you interested in a long term commitment? Most people investing in land realize that it may take years before their land is valuable enough to sell. So try not to get frustrated if you own land that has not increased in value for some time.
Sometimes it can take close to ten or twenty years for land to become valuable enough to sell. It all has to do with the demand for land in the area. So before you sell your land, ask yourself…
“If I sell my land, will I regret it in 5 or 10 years?”
Many people sell their land because they don’t think that it will ever become valuable, only to see that the area that their land was in becomes valuable just a few years after they sold it. You never want to get out of the market too soon. If there is a possibility of your land becoming valuable within the next ten years, you should rethink your decision.
Think About The Location Of Your Land
If you are investing in land in an area that is close to a town, look at the population growth of that town. If you can figure that the town is growing fast enough that it will expand onto your land within then next ten years, do not sell that land.
As the developed area around your land expands, the value of your land is going to expand with it. In other words, as the demand for your land rises, the price will rise also. There are so few investments that appreciate like this. In fact, land is such a great investment that it is called ‘real property’.
“I still want to sell my land!”
But, if you have decided that the area around your land is not going to develop within the next ten years, you may still want to sell it (I’m assuming you already know how to do that, but if you don’t you can read my article how to sell your land which covers the basics). How do you get the best price?
You could start by advertising it privately. The best way to do this is by speaking with land owners near your plot. If someone owns a lot near the land that you own, it is reasonable to assume that they may want to purchase more lots in that area. So, visit City Hall and find out who owns the land near yours and give them a pleasant phone call.
You could also take out an ad through the classified section of your newspaper. However, you may find that hiring an agent will give you the best results. A local agent that is familiar with the area is often the best choice. They will be able to connect you to different people that are interested in purchasing land.
If you are new to selling land, it is strongly recommended that you seek out an agent. But, if you are a little bit more experienced it might not be a bad idea to try selling it on your own first.