re: Land as an investment

I'm younger... no wife... no kids. I recently decided against purchasing multiple acres waterfront for $20,000 per.

Here's why I wanted it: It's beautiful land. I feel that it's a good deal. Similar property in the area is selling for $30,000 per acre (smaller acreage). I want diversification because 90.00% of my assets is in stocks and funds. I want multiple acres. From a psychological perspective, I want something permanent in my life.

Here's why I didn't: That last reason from above is stupid. I rent. While I could swing the note on the land, building would require reallocation of cash flows that I feel would not be prudent to my long-term financial health. I'm not sure that I want to stay in the area. I have no interest in the maintenance of 20 acres at this age. It would be non-income producing and I've watched one too many fall due to the burden of non-income producing property.

That was my thought process. Good luck with your decision.