All depends on the property. We will not meet your limit but our lot is 5 acres on an island. We are about to pour the slab on our new home, but there have been a few times I wish we just bought something "off the rack." Although I plan to raise a few chickens out near the garden, few will call our home a "chicken shack."
My comment was not directed to you, but if you are truly spending 150k on a 100k land that is "prime real estate", thats a bad decision. You're actually devaluing the land and the surrounding land by doing so.
Now if its nice property and you're paying 20k an acre and putting a nice home to raise the fam for 150k, sure, more power to you.
There is no island on earth im aware of that prime real estate can be had at 20k an acre, which was the OP's question.
This post was edited on 5/21 at 10:12 am