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

[gonhunting247]

Buy it and enjoy the heck out of it!

 

[HONEYBADGER]

I dont see how you can go too wrong. The push to leave cities is only getting louder. I bet if you wanted to sell it in 5 years you would make money. If you keep it you will enjoy it.

 

[Trial153]

Yes

 

[Dave N]

Go for it. We bought a place in Alaska to serve as a basecamp for future trips and as a foot in the door type of investment while looking for a more permanent place. Then covid hit and shot everything to hell as far as travel and rental cars. Sold it for a profit. If you like it and you think it would be something you would make good use of then there's really no bad decision if the money is workable.

 

[Kiwi]

Yes, buy it. Time will resolve any short term price dips.

 

[mdhunter]

I have bought three farms over the last seven or so years. My only regret is the ones I missed out on.

This might also be the time to say “past performance is not indicative of future gains, please invest wisely”.

 

[Salmonchaser]

Attributed to Will Rodger’s. “Buy land, they ain’t making any more of it.” Wish we would have bought a lot more when we were still working.

 

[Brittany Chukarman]

It sounds like a rare find these days. If you don't use it for ag will that affect the zoning/taxes? Ask around about the large ranches as neighbors. If you can afford it buy it, the time you are able to use it is more valuable than money. I've missed out on some good deals by procrastinating.

 

[Mallardsx2]

I guess it really depends on how bad you want it. But if it was me and I had that kind of money, just sitting around, I think I would just invest it and go on guided hunts or pay lease fees with landowner tags, and let everyone else take care of the nonsense.

Owning the land isn’t everything it’s cracked up to be. Between taxes, trespassers, general management, there’s a lot of work that goes into owning any kind of large amount of land.

If you do decide to buy it, take my advice and don’t go in with anyone else to buy it. Only buy it yourself and if you can’t then don’t buy it at all. Involving someone else will be your nightmare.

 

[blb078]

I guess it really depends on how bad you want it. But if it was me and I had that kind of money, just sitting around, I think I would just invest it and go on guided hunts or pay lease fees with landowner tags, and let everyone else take care of the nonsense.

Owning the land isn’t everything it’s cracked up to be. Between taxes, trespassers, general management, there’s a lot of work that goes into owning any kind of large amount of land.

If you do decide to buy it, take my advice and don’t go in with anyone else to buy it. Only buy it yourself and if you can’t then don’t buy it at all. Involving someone else will be your nightmare.

I would only be buying it myself. The guided hunt part is a pretty good argument but I would also be buying it for other recreational uses. And while guided hunts real create memories so will this property and you can sell it(hopefully) later on for a profit, taxes I'm not too worried about it's a low tax state.

 

[VikingsGuy]

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.

Interest rates coming down will likely only increase sales prices, so a double edged sword. For cash buyers high interest rates are great.

 

[VikingsGuy]

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.

Listen here buddy, this group can definitively answer (repeatedly) much greater questions than this - like can 6.5 creedmoor kill an elk - we take on all questions!

 

[Treeshark]

Interest rates coming down will likely only increase sales prices

Agreed in theory, but I would hope for a lag. Then again, increasing rates should have also triggered price drops recently (didn’t really happen).

 

[VikingsGuy]

Agreed in theory, but I would hope for a lag. Then again, increasing rates should have also triggered price drops recently (didn’t really happen).

Sellers held pat with existing favorable mortgages shrinking supply and shoring up values. But I agree, lots of variables in the pure investment side of the question. But when you add the recreational side, seems like a no brainer if OP can afford it.

 

[MThuntr]

I have a better idea...give me the money to buy a property and I'll let you come hunt

 

[blb078]

I have a better idea...give me the money to buy a property and I'll let you come hunt

Sure, I just need your bank account number, address, social security number, mothers maiden name, and the name of your first pet and I'll send it right over.

 

[geetar]

My wife and I have been talking about building a house one day. We are a 3 years or so out from doing it so we are hoping to pile up some cash a be able to catch a lower market when the time comes to buy a piece of land. With the land prices right now I'm not even trying to buy and be able to pay what land is currently going for.

 

[Brittany Chukarman]

The place next to me just sold after being on the market for a year. Old neighbors passed away and the family trust sold it. 158 ac rundown cattle ranch. A widow lived there the last 10 or 12 years and leased out the cattle operation. That seldom works out well for the owner in my experience as far as upkeep. The family trust put the price at $950,000. It sold for $600,00 to a family that wants it for recreation.
When I bought my place 30 years ago the locals all thought I paid too much. I've done a lot of improvements but I'm sure I can get 5 times more right now. But the life I've had living here and hunting out my front door is priceless, much more rewarding than a guided hunt.

 

[sccritterkiller]

I just closed last week on some recreational property. It was the absolute worst time for me, kids starting college, high interest rates, ect...Its a decent chunk of ground, over 50 acres, one side boarders the lonest untamed river on the east coast the other side NF. At the end of the day if I didn't buy someone else would have.

Date the rate and marry the land...interest rates will go back down you can always refi...

Can't go wrong buying dirt.

 

[blb078]

The place next to me just sold after being on the market for a year. Old neighbors passed away and the family trust sold it. 158 ac rundown cattle ranch. A widow lived there the last 10 or 12 years and leased out the cattle operation. That seldom works out well for the owner in my experience as far as upkeep. The family trust put the price at $950,000. It sold for $600,00 to a family that wants it for recreation.
When I bought my place 30 years ago the locals all thought I paid too much. I've done a lot of improvements but I'm sure I can get 5 times more right now. But the life I've had living here and hunting out my front door is priceless, much more rewarding than a guided hunt.

Yea the idea of waking up and going right out back to a spot I see all the time is pretty intriguing. What I'm looking at is just over 500 acres so it's a little bigger than what you mentioned but it's a nice area, private road, creek going through it.