Raise your hand if this sounds familiar: At one time you bought a great piece of vacant land with the dream of building a second home or cabin; creating a recreational getaway where you could camp or park your RV; or to hold as an investment property and sell later when the land value increased. But now you’ve decided you’re not really in it for the long haul or you’re tired of paying annual fees like taxes or association dues and it’s time to sell. However the thought of going through that whole process can feel overwhelming. Not only can we help by giving you a fair and quick offer for your land, but in this post, we share our Top 5 Things You Can Do With the Proceeds from Selling Your Vacant Land in Arizona.
5) Invest In Something Else
There are so many ways to invest money. You could reinvest in a different piece of vacant land, maybe in a new area. You could put a down payment on a new house or even a rental property to make some residual income. You could also invest in the stock market with plenty of types of companies and varying degrees of risk. You can select stock in your favorite companies, or go with a bulk investment with a mutual fund. There are lots of companies and apps that make investing simple.
4) Start A Savings Account
Another great thing you can do with the proceeds from selling your vacant land is to start a savings fund. It is never too late to save money! You could save for a larger purchase in the future like a new house. Or maybe you want to start a college fund for your child or grandchild. Check around at a few different banks for different investment options to find the best return for your savings account. This is a slower, less risky investment than the stock market or other real estate.
3) Make Improvements
Proceeds from your vacant land sale could help remodel your kitchen! You might even be able to spring for the countertop upgrade. Or maybe your teenager’s first car needs a little fixing up before you hand over the keys. The proceeds from selling your vacant land would be a great way to fund improvements.
2) Pay Off Debt
We live in a society now that just about everyone is in some sort of debt. A smart thing to do with the proceeds from selling your vacant land would be to pay down some or all of your debt. Pay down some credit cards to avoid extra interest. Make extra payments on your mortgage. Pay off a large portion of your car loan and reduce your insurance costs. Large payments over the minimum due will save you interest in the long run.
1) Have Some Fun
Maybe you’ve had your eye on something that the rational side of your brain would never let you buy, like that boat you see every time you go to the sporting goods store. Maybe your spouse wants a new car. Maybe you need a new computer. The proceeds from your vacant land sale would be a nice chunk of change to buy that larger purchase that you’ve been wanting. Or, use the money to go on a much-needed vacation. Go somewhere you’ve always wanted to go. Making time to enjoy adventures in life is priceless.