If you have been thinking about making a personal and financial investment in a burial plot for you and your family, you have a lot to consider. To find out if it’s worth investing in a cemetery plot, explore this blog.
What Are You Actually Buying?
When you purchase a plot, it’s essential to understand that you aren’t buying the land. What you are buying is the right to decide who gets buried there.
And since the cemetery owners still own the land, they can enforce regulations on the type and size of your headstone as well as on any other extra features you may want to have installed on your burial site.
So when you’re buying a headstone in advance, you’ll want to make sure it follows the cemetery’s standards. Some cemeteries will even regulate if you can sell the plot as well as who you sell it to.
Also, buying a plot won’t cover the actual cost of your burial. A cemetery will have separate fees for opening and closing up the ground.
So when you buy a plot ahead of time, that’s one less expense your inheritors will have to worry about.
Will the Plot Increase in Value?
What gives a plot its value is the location. A rural plot can cost as little as $500 to $800, but that figure can jump up to around $2,500 for a similar spot in a city.
That’s because in urban areas, there’s only a limited number of plots left—and there isn’t room for more. In order for your plot to gain value, the demand must be greater than the supply.
Also, people will pay a premium for land in a historical cemetery; under a big, old tree; or with a waterfront view.
Then, the last deciding factor in value is the scale of the plot and whether it’s zoned for a headstone or mausoleum. The more unique features a piece of land has, the more value it has.
Can You Sell the Plot?
As we mentioned, some cemeteries will restrict you from selling your plot once you purchase it. Still, most companies understand that situations can change, and they’ll usually allow you to sell your parcel.
Some websites are even dedicated to aftermarket resells of cemetery plots around America. However, plots often sit for around 15 months before selling, if you’re lucky. So even if your land has increased in value, you might have trouble getting rid of it.
So is it worth investing in a cemetery plot? Because of the difficulties you’d face trying to resell a plot, it doesn’t make sense as a purely financial investment.
However, if you have an emotional tie to a particular location with limited spots, it makes sense as a personal investment that you can probably still sell off should you change your mind.
image credit: Adobe Stock
end of post … please share it!
Helpful article? Leave us a quick comment below.
And please give this article a rating and/or share it within your social networks.