Maybe you’ve been on the fence about selling your land. You are wondering if it’s the right time. We have put together a few questions to ask yourself to help you determine if it’s the right time to sell your Midwestern land!
What is the property doing for you?
Your land should be doing one of these things:
- It should produce an income, either in crops, timber, or other use.
- It should fulfill your family’s recreational needs. Maybe it is a place for vacations or a weekend home.
- It is held for future use as a site for a retirement home, or other planned future use.
If your the land lays fallow, is overgrown with weeds, or otherwise unproductive, it might be time to consider selling it! If the timber has been recently cut, you should be aware that for harvesting hardwoods, it will take twenty or thirty years before the next harvest.
Is there another property that would better meet your needs financially?
In the world of investing, they call this “Opportunity Cost.” What property are you potentially missing out on because your money is tied up in a different one? Take a look at what’s out there. Is there a better place you could be investing your money?
Are you “land rich?”
People buy their land for what they perceive their present and future needs are. Did you buy the land to build your retirement home, but your plans have changed? Or perhaps you’re no longer fond of the climate in the Midwest? If so, you have money tied up in land that is not fulfilling your present needs. Sell it to us, and get property that meets your present needs!