Sigh. It’s finally time to make that decision that has been resting in the back of your mind for a few years now. You love the family farm, but it’s getting harder each year to maintain.
You have to decide: Do you sell the land? or do you let your kids inherit it after you die?
Perhaps you are the recipients of that land that has already been passed down. What do you do with it?
If you’ve got multiple siblings, you probably already know that this is a difficult problem.
Should I sell my land?
First, lets look at the problem of inheritance.
This is a problem that I see. It’s so common, that it’s almost cliché. There’s always one sibling who wants to farm the land, one who wants to sell the land, one who wants to try their hand at developing the land, and one who is at their whit’s end, just trying to hold the whole family together.
Depending on how many siblings there are, figuring out how to handle the land can be a challenge. If the land gets split evenly between all parties, it becomes more difficult to do anything with, thus decreasing it’s value: It’s too small to farm, too small to develop, too small to sell.
Usually what ends up happening, is that arguments ensue, and once tight families find themselves at odds with each other.
The solution to the inheritance problem?
One thing that we’ve learned over the years, is that people have a strong emotional attachment to the family farm. So many memories were made there. The problem is, that it’s hard to split the farm up and satisfy all the children.
The solution is simple: Sell the land.
Ouch, really, but what if we…
We could probably come up with a hundred reasons not to sell the property, but in the end, you should ask yourself, what is easier to pass on to your kids? Money or land?
Money is easily divided up, land is not.
Money allows your farmer kid to buy a piece of farmland somewhere where development pressures aren’t as high, allowing them to get more farmland for the dollar. They could even end up starting a family farm of their own that is as big or bigger than your property.
Money allows your kid that just needs the cash, to get it.
Money allows your developer kid to run his or her own business, whatever that may be.
Money may not carry the same nostalgia as land, but it won’t cause the family to tear each other apart either. With money they can all pursue their own dreams.
Other benefits of selling:
As long as you’re not on your deathbed, you could really improve your retirement by:
Paying for medical bills
Downsizing to a home that’s easier to maintain
So who should you sell to?
This is a tough question. Most likely, if you own land, you’ve already been visited by multiple developers, each trying to make a deal with you.
Naturally, you want two things out of your property:
First, you want it to turn into something you’d be proud of. There’s a lot of developers who are going to just throw some ugly housing project together. You wouldn’t want to live there, and you’re sure that your neighbors would frown on it also.
Second, aside from being responsible with how your land is developed, you want to make sure that you get the best deal.
Wouldn’t that be great?
Could sell your home to a responsible builder, get the best dollar for your property, and still get to live on the same land, but in a community you’re not only proud of, but one that you would’ve wanted to live in anyways!
How to know if your land is a good fit for our product:
We are currently looking for land. If you think you might be in the market to sell, come talk to us. See if we can’t offer you a deal that is too good to pass up.
We are looking for land between 15-25 acres. We’ll entertain other sizes also. We have good relationships with other fantastic builders if your land is larger than 25 acres. If it’s smaller, we might see if your neighbors are interested in selling their land also.
In any case, come talk to us. We won’t pressure you into anything you don’t want to do. We are land hungry, but we also want you to close the deal happy. Too many other developers will promise you the world, then they’ll drag you through the swamps to get the deal done.
You’ve poured your heart and soul into your property. Over the years, it’s value has increased, and your property deserves a fresh new community from Leisure Villas.