Memorial lots are unique assets that can be purchased to provide a secure financial future. Instead of investing in a traditional real estate investment, like a residential property, you can buy a memorial lot and enjoy the benefits that come along with it. It can provide you with a passive income stream, as well as increased stability in your finances, and you can rest assured that your purchase will retain its value over time.

That said, if you are unaware of what memorial lots are, a memorial lot is a special type of cemetery lot that is specifically designed to honour and memorialize a deceased individual or family. Memorial lots are typically used to create a permanent place of remembrance and provide a tangible reminder of the deceased.

Memorial lots can be purchased from a cemetery or funeral home and typically include various features, such as a grave marker, a garden, or even a memorial tree. In addition to providing a physical place for people to pay their respects to the deceased, memorial lots can also serve as a source of healing for the family and friends of the deceased.

That said, if you’re interested in investing in memorial lots, here’s what you should consider:

1. Location

Location is the most important factor to consider when investing in memorial lots. The right location can make it a lot more profitable, while the wrong one can make it a loss. As such, it is important to consider the proximity to other memorial lots, as well as the surrounding area. If the lot is located in a desirable area, it may be easier to find buyers and increase the potential return on investment.

2. Zoning

Zoning is also an important factor to consider. It is important to check the local zoning rules to ensure the lot is suitable for the intended use. If the lot is not zoned for the intended use, it may be difficult to find buyers or increase the value of the lot. But of course, if you’re already buying memorial lots that exist, you might not have to worry too much about zoning.

3. Size

Size is another factor you must think about. A larger lot may be more profitable than a smaller one, but it also requires more maintenance and upkeep. It is important to consider the size of the lot in relation to the intended use and the potential return on investment. So, balance the costs of maintaining a lot at a specific size and the return you may get from it.

4. Access

Access is a vital consideration, but unfortunately, not everyone thinks about it. It is important to check the availability of roads and sidewalks to the lot, as well as the possibility of access to utilities. If the lot is difficult to access, it may be difficult to find buyers or increase the value of the lot.

5. Price

Price is the final factor to consider. It is important to research the market and compare the price of the lot to similar lots in the area to ensure that the price is fair and competitive. Remember, at the end of the day, you’re either here to make some money or use the lot for your personal use. Whichever route you take, make sure you get the best price possible.

Conclusion

When it comes to purchasing a lot for either personal use or investment purposes, there are several important factors to consider. Accessibility, size, zoning, topography, and price are all key considerations that must be considered before making a purchase. So, research the market and compare similar lots in the area with all these considerations in mind, and you’ll stand a good chance of finding an excellent memorial lot for your investment goals!

Grave listing is a cemetery brokerage company offering up-to-date listings on various funeral plots. If you want to purchase burial plots in Canada, check out our listings today.