Why Waiting Another Five Years May Not Increase Your Land's Value
By Thomas Santore Lic Associate Real Estate Broker, Realtor®-ABR-Land, Residential & Commercial Sa
(Coldwell Banker Realty/Coldwell Banker Commercial NRT)
Why Waiting Another Five Years May Not Increase Your Land's ValueOne of the most common things I hear from vacant land owners is:"I'm not in a hurry. I'll just hold onto it for another five years. It'll be worth more then."Maybe.But maybe not.Many people assume vacant land automatically increases in value simply because time passes. While that can happen, it's far from guaranteed. In fact, waiting too long to sell can sometimes cost you money instead of making you money.Before you decide to hold onto your property for another five years, here are a few things to consider.Land Doesn't Always Appreciate at the Same RateLike any real estate, vacant land is influenced by supply and demand.Some years buyer demand is strong.Other years buyers become more cautious because of higher interest ra...
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