Where Is Real Estate Still Hot? At the Cemetery
Where is Real Estate Still Hot? That’s the title of this article in the Wall Street Journal, which is reporting that in tough economic times, increasingly people are selling their cemetery plots. The plots are usually either sold on the open market or back to the cemetery.
The article points out that tough times aren’t the only reason some people are choosing to sell. People are more mobile these days, which means they may not live near a family plot. Also, more and more people are choosing cremation as an alternative to burial. This is a trend I’ve noticed in my own practice the past few years.
The article notes that with the influx of cemetery plots on the market, now is a great time to buy. However, a buyer must be careful to find out what the cost includes – does it include burial, headstone or crypt? What are the rules for selling the plot later? In addition, buyers may wish to consider prepaid funeral services because of the rapid increase in costs for funerals.