Are you thinking about selling off your vacant land? Before you send out property listings, first make sure the market value is comparable. This lets you know if you’re asking too much, not enough, or just right.

Otherwise, you might waste your time with a potentially lousy offer. Or you might accept an offer on a property with lots of equity and end up with a bad deal on your hands.

Either way, you win by doing your research. So, take a minute and check out this guide for everything you need to know about the market value of vacant land.

Best Way to Gauge the Value of Your Land

To find the market value of your land, the best way to gauge the value is to find recent sales of similar properties in your area. You can search online for land sales in your county or use an online appraiser. Once you have found comparable land sales, you can adjust the prices based on the size, location, and other factors to find the market value of your land.

Consider the Location of Your Land

It’s important to factor in the location of your land when estimating its market value. Generally, properties closer to urban areas or other popular tourist destinations will be worth more than rural land. The size can also affect its land value. Large parcels of land are usually worth more than smaller ones.

Discovering the Worth of Your Vacant Land  

There are several ways to determine the market value of the land for sale, and a professional appraiser can provide the most accurate estimate.

You can also use online tools and resources to get a general idea of the value of your land. You may view this land value estimator.

Understand the Zoning of Your Land

Vacant land can be a valuable asset, but only if you understand the zoning of your land. The market value of your land will be determined by the zoning regulations in your area. If you are not sure what the zoning regulations are, you can contact your local planning and zoning office.

Once you know the zoning of your land, you can research the market value of similar land in your area. This will give you a good idea of what your land is worth.

Account for the Improvements in Your Land

To find the market value of your vacant land, you need to account for the cost of the land and the cost of the improvements. The cost of the land is the amount you paid for the land, plus the cost of any improvements you made to the land. The cost of the improvements is the value of the improvements you made to the land, minus the cost of the land.

Start Marketing to Potential Buyers

The main key thing you can consider is to consult a real estate agent and look at the land’s development potential. Once you have a good idea of your land’s value, you can start marketing it to potential buyers.

Wondering what other steps you can take to sell your vacant land for the best price? We’re here to help! For more information on how to buy and sell land, check out the rest of our blog.