I'm getting close to making an offer in a property in a western state. It basically is a smaller cattle operation with house, shop, barn, etc. It's a low 7 figure price. I wouldn't be using it as a cattle operation but more recreational. I have the money to do it but part of me is hesitant because in the back of my mind I keep thinking maybe prices will drop to something close to 2020 levels and now I would be over paying, but maybe not. Even if that where to happen it wouldn't effect me in regards to paying for the property. It is priced a little on the high side because it's close to the mountains, has a year round creek, pond, good views, etc. I could go an get 2 or maybe even 3 times the rangeland for the same price. Would any of you pass on something now even though you could afford it or would you still pull the trigger knowing there could be a bit of a drop in the next year or two?
First World Problem - Would You Buy Land Right Now??
- Thread starter blb078
- Start date
BAKPAKR
Well-known member
Does it come with landowner tags?
I’m not sure about actual land prices, but interest rates might bump back a bit in the next 6-12 months.
I have been waiting for land prices to “come back down to earth” for the past 15 years. So far hasn’t happened, and I’m wondering if it will anytime soon.
HappyCamper
Well-known member
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- Aug 8, 2023
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Is the property what you’re looking for in terms of recreation? If you could see yourself using it, no time like the present to me. Like above, prices don’t really seem to dip much
Hem
Well-known member
Self help for only $80.
Girl not included..
Girl not included..
If you don't someone else will. mtmuley
npaden
Well-known member
I finally gave up on finding the perfect place and bought something in June 2022 that checked most of the boxes.
Figured that I could at least get my foot in the game and down the road I could swap out for something else if I didn’t end up happy with it.
So far I’m happy with it and have added another 236 additional acres adjoining it. Pretty sure I could sell it at a small profit already if it came down to it.
Figured that I could at least get my foot in the game and down the road I could swap out for something else if I didn’t end up happy with it.
So far I’m happy with it and have added another 236 additional acres adjoining it. Pretty sure I could sell it at a small profit already if it came down to it.
antlerradar
Well-known member
If you like the property and have the money, buy it. Only reason not to is if you think you can find another that you would like more. Properties with mountain views and live water almost never lose value for long. Have you checked into water rights and mineral ownership?
That's kind of where I'm at, I went through this same thing just at the start of covid and had a property didn't work out during the inspection, had some "life crap" happen now I'm back to it again.
yea it's nice, it backs up to a section of land lock public and is surrounded by some larger ranches. I don't know that I would say it's everything I'm looking for but it's close. I think in my budget to get everything I'm looking for I either go smaller in acreage, different location, or increase price range.
As long as I can.
Marshian
Well-known member
I’ve wrestled with this myself for the last five years at least and always regretted not pulling the trigger the way land keeps creeping up. Coincidentally, I made an off today for straight land, no shop or house or any improvements. I’ll post back in a few days and let you know how the offer was received.
Yea maybe, it's not a huge amount of water rights, only 40 acres of it are can probably squeeze out a little more but it has the views, the creek, pond(reservoir), house/improvements are ok, nothing fancy but in really nice condition, the old man really took care of the place even the fencing is in good condition.
The fact that you are asking for advice from people you don’t know doesn’t sound right to me. I would pass on the land.
Bulldog0156
Well-known member
I'd do it. Turns out they're not making more land.
You are right about not making more land but land has never been ‘sold out’ either.
NEWHunter
Well-known member
I’ve watched recreational land prices here in WI for almost 20 years. Prices have never come down. Occasionally you can get a bit of a deal due to a distressed situation, but that’s property specific. If you like it and you’re confident you’re paying a fair price - buy it. Market prices may hold level for a bit, but the market overall isn’t moving lower.
Are you still waiting to buy into the stock market?
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