First World Problem - Would You Buy Land Right Now??

[blb078]

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?

 

[BAKPAKR]

Does it come with landowner tags?

 

[Treeshark]

in the back of my mind I keep thinking maybe prices will drop to something close to 2020 levels

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]

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

 

[buckbull]

How long do you plan to hold onto it?

 

[Hem]

Self help for only $80.
Girl not included..

 

[mtmuley]

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?

If you don't someone else will. mtmuley

 

[Buschy]

Absolutely. If you can afford it, do it. As stated by others, land rarely goes down in value.

I close on recreational property in June. No regrets the way hunting is trending.

 

[npaden]

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.

 

[antlerradar]

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?

 

[blb078]

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.

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.

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

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.

How long do you plan to hold onto it?

As long as I can.

 

[Marshian]

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.

 

[buckbull]

Then I would say go for it. The fact it has water would be a big deal to me. If you are in for the long haul you will eventually be well ahead even if property prices dip temporarily.

 

[brymoore]

Buy. Real estate values are on a long term rising trend. 20 years from now you will be happy with the price.

 

[blb078]

Then I would say go for it. The fact it has water would be a big deal to me. If you are in for the long haul you will eventually be well ahead even if property prices dip temporarily.

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.

 

[rebjfan]

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?

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]

I'd do it. Turns out they're not making more land.

 

[rebjfan]

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]

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.

 

[brymoore]

You are right about not making more land but land has never been ‘sold out’ either.

Are you still waiting to buy into the stock market?