What To Do With a Vacant Lot in Philly?

What to do with a vacant lot in philly
If you have a vacant lot in Philadelphia, but aren’t sure what to do with it, you aren’t alone! Philadelphia is home to over 40,000 vacant lots! There are a few ways to end up with a vacant lot in Philadelphia. Most commonly, someone will buy a vacant lot when the market is down in hopes of building on it or selling it for a profit in the future. Another common situation is to inherit a vacant lot. In any case, situations change and plans get put on the back burner or become infeasible. 
This leaves many with the question, “What can I do with my vacant lot in Philly?” We came up with some creative, as well as some more traditional ideas. Hopefully, this will leave you with some thoughts and help you decide what you want to do with your vacant lot in Philly. 

Start A Community Garden On Your Vacant Lot in Philly

As Philly residents ourselves, we really love this idea. While it seems like a big project at first, anyone can start a community garden with relative ease. In fact, the Pennsylvania Horticultural Society even has a website full of resources for anyone looking to start a community garden. 
A community garden offers a ton of benefits for the surrounding area. First of all, a community garden is a great way to brighten up the street with some color and greenery. We also know how much of a pain it can be sometimes to get fresh produce in certain parts of the city. A community garden is a great way to ensure you can enjoy fresh fruit and vegetables!
Finally, a community garden is a great way to connect with your neighbors and bring the community together. If your vacant lot is near your residence, it is a great way for you to interact with your neighbors and help give back to the community. 

Build New Construction In Philadelphia

When many people either buy or inherit their vacant lot, one of the first thoughts is probably to build new construction on their property. So while we aren’t necessarily breaking any ground by suggesting this idea, we do want to point out a few things to keep in mind. First of all, you will need to make sure the property is zoned for the type of building you plan on constructing. For example, you may want to build a duplex in hopes of renting out some space, but the lot may only be zoned for single family dwellings. You can find more info on Philadelphia zoning here.

Another tip is to do as much research as possible before jumping into this endeavor. If you haven’t tackled building new construction before, you could wind up in way over your head very quickly. Make sure to properly vet any general contractors or others who will be working on the project for you.

The final piece of advice has to do with the current home remodeling/improvement market. Right now, building materials are extremely costly as some materials, such as lumber, are going through supply issues. So, if you have been sitting on a vacant lot for a while, it may make sense to wait until the prices of building materials come back to normal before starting such a project.

Sell Your Vacant Lot In Philadelphia

Many times, selling your vacant lot is the end goal you were aiming for when you initially bought it. Alternatively, you may have had other intentions that just never materialized. There can be a lot of factors to consider, so the question is, “Should I sell my vacant lot?”

When it comes down to it, this is a personal decision and there is no right or wrong answer. First of all, if you had other intentions, such as building – does that idea still appeal to you? You may have been sitting on your vacant lot for a while and plans may have changed. If you’ve realized that your initial plans were a bit too lofty, it may make sense for you to sell your vacant lot.

If your plan was always to sell your vacant lot at some point, then you just need to decide the timing that works for you. As we’ve talked about in other articles, now is overall a great time for sellers in the real estate market. With a market that is always alternating between high and low, you may decide to take advantage of the current market state.

How to Sell a Vacant Lot

While selling a vacant lot is usually much more straight forward than selling a home or larger piece of property, there are still proper steps that must be taken. Furthermore, you want to make sure you get the most for your vacant lot. While it is possible to list your vacant lot as “FBSO,” that is not your only option.

At Property Buyer Connect, we buy all types of properties, including vacant lots. We are a trusted name in the Philadelphia and New Jersey areas. When working with us, you can be sure that you’ll always get a fair cash offer for your property. You also won’t have to deal with any of the headaches associated with selling a property. To hear what our clients have to say, check out our testimonials page!

To get a cash offer for your vacant lot, give us a call at 215-770-3122 or send us a quick message online.

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