Inheriting land can be a huge opportunity — but many owners rush into a decision without understanding what they actually have. Before you sell, build, or hold it, here are the 5 smart steps most landowners should take first.
1. Confirm Exactly What You Inherited
Start by checking:
The deed
The tax map number
The acreage and boundaries
Any easements or restrictions
Sometimes inherited land has surprises like shared driveways, wetlands, or access issues.
2. Understand the Zoning
Zoning determines what can be done with the land.
For example:
Residential zoning might allow one home or a subdivision
Commercial zoning could allow retail or offices
Agricultural zoning may limit development
Knowing this can dramatically change the value.
3. Check Utilities and Access
Land value often depends on:
Road frontage
Water or sewer availability
Septic suitability
Power access
A parcel with sewer nearby can be worth significantly more than one needing wells and septic.
4. Determine the Market Value
Many inherited landowners guess the value based on:
What their parent paid
What a neighbor sold for
Or tax assessment
But land pricing is very different from houses. Comparable land sales and development potential matter far more.
Since you work in the land market yourself, Thomas, you already know how wildly values can change depending on subdivision potential or utilities.
5. Decide Your Strategy
Once you know what you have, you usually have three choices:
Sell it now
Good if you don’t want the taxes, maintenance, or responsibility.
Develop it
Subdivide or build if zoning allows and the numbers work.
Hold it
Land in growing areas often appreciates over time.
💡 One mistake many heirs make:
They sell quickly to the first buyer because they don’t realize developers or builders might pay far more.
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