Diversifying your investments among several market sectors in your real estate portfolio fortifies your security in retirement. For example, investing in raw land, which historically increases in value over time, offers a long-term hedge against inflation. Additionally, land can lend itself to creative ways for investors to earn cash flow. And an essential part of investing includes laying out an investment plan. However, the realities of life have a way of changing original timelines for exiting investment properties. So while you should plan your exit strategy for your investment at the time of purchase, understand that sometimes you need to switch gears for any number of reasons, be they personal or driven by the market.
Savvy investors keep their finger on the market’s pulse, watching for upcoming trends and adjusting their holdings accordingly. If you consider selling ahead of your original timeline, you may be on the right track to making a wise move with your land. So read on as we explore three reasons to sell your land in Richmond.
If the taxes have become cumbersome, it may be time to sell your land in Richmond.
One of the carrying costs of holding land as an investment is property taxes. However, there are many reasons that property taxes can increase. One of them is the county assessing the property’s value based on the highest and best use of the real estate. In addition, the value of land can be affected by new local, state, or federal laws or a sudden upturn in demand for real estate in the area. If you need to cash out of your land quickly because you are overwhelmed with a tax burden, consider selling directly to a local professional investor like those at RVA Home Buyers. Because we buy land for cash, when you work with RVA Home Buyers, your guaranteed closing date can be scheduled typically in a matter of days or set at whatever day on the calendar best suits you.
If you’ve been unable to maintain your property correctly, selling your land in Richmond makes sense. Depending upon the location and ordinances, you may be required to keep your land well maintained and mowed; otherwise, you may face fines that can add up quickly. If there are trees, fire may be a concern, so you could also be responsible for clearing the ground cover. Unless you’re a heavy equipment operator, you’ll likely have to hire someone to do the job. You should also physically visit the land from time to time to ensure that intruders haven’t begun using your property as a dumping ground. You’ll also want to have a presence to ensure that no one is accessing the land regularly without your permission, opening the door to easement questions and their rights to use your land, which can be troublesome. You can avoid paying for any more maintenance by selling your Richmond land to a professional investor from RVA Home Buyers. You’ll also save money because you won’t pay any commissions when you sell directly to RVA Home Buyers, no hidden fees or surprises await you at closing, and you won’t even pay closing costs.
Earn Higher Profits
It only makes sense to sell your land in Richmond if an opportunity arises to bring you higher returns on your investment dollar. Because most buyers seek homes that are ready to move into, the buyer pool for land is smaller. To appeal to these buyers and sell your land as quickly as possible, you must price it accurately. Because buyers can promptly compare properties through online listings, they have a keen sense of current market values and will move on if the price is too high or too low. Therefore, it’s always wise to reach out to an expert to help you zero in on land value, like the professional investors at RVA Home Buyers, with years of experience in land investments. The professional investors at RVA Home Buyers will detail how much your land is worth on the current market and then present our direct offer to buy your land for cash so that you can compare for yourself. We do this at RVA Home Buyers because we are your neighbors who live and work alongside you here in Richmond, and we want you to feel good about the deal long after leaving the closing table.
Let the pros at RVA Home Buyers guide you as you consider the reasons to sell your land in Richmond with a no-obligation consultation. Our professional investors at RVA Home Buyers stop and take the time to listen and answer any of your questions about the process or concerns you may have about selling your land. Don’t forget to ask about the current inventory at RVA Home Buyers of the best investment properties available in Richmond, especially if you want to take advantage of 1031 exchange tax laws. Contact RVA Home Buyers at (804) 420-8515.