Is it better to have money in the bank than in the grave when times are tight? Cash-strapped owners of pre-paid burial plots are cashing in, resulting in a trend which makes future death a buyer's market.
Financially struggling owners of prime real estate are cashing in as the demands of meeting today's financial needs outweigh the importance of holding onto an eternal resting place. The trend of selling pre-paid burial plots has caught on: parting with ones intended resting place is a viable way to raise cash, some people believe, particularly as more individuals than ever are opting for cremations.
Even with the burial plot beneath the belt there is the high cost of an actual burial to consider with caskets and headstones adding to the price, thus influencing the decision to sell. According to the Denver Post figures cited for 2009 show that the average casket burial costs $8,000 compared to cremation costs of $1,200.
It makes sense to have money in the bank instead of in the grave. Second-hand burial plots are openly marketed by funeral homes and burial plot brokers. Individuals choose to advertise them on Craigslist or eBay, or one of the dedicated websites. Sometimes cemeteries will be prepared to do a buy back. Keating Law advises that a profit can be turned even in a buyer’s market, if the plot has appreciated in value since its purchase, even though the actual value will be less than its worth.
There are more than simple burial plots advertised on Cemetery Sales website that specializes in Californian plots. Buyers can opt for mausoleums or crypts which overlook the sea, with sellers often including the transfer costs.
In Palm City, Florida, prices can range from $1,000 to $50,000 according to WPTV. Florida, Arizona, Texas and southern California are the states where the briskest business is done due to the high level of retirees they attract. Buyers could well be making a sound real estate investment for the future even if they have no intention of ever filling the hole.
Cash-strapped Deena Morgan told the Denver Post why she was selling her burial plot to raise necessary cash, saying "I'm out of work, and I'm selling anything and everything I can to stay afloat. I don't want any ceremony. I'm donating my body to science and then cremation. Ashes to ashes and dust to dust."