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Message
Buying Land
Posted on 11/13/12 at 1:21 am
Posted on 11/13/12 at 1:21 am
Assuming it is currently being used for agricultural use, and would continue to be used for it, how smart $ wise is a move like this? I realize it would be very long term unless you got lucky with minerals.
2
Posted on 11/13/12 at 4:30 am to jimbeam
It depends on how much land, cost and taxes. Also if you can keep it in lease to a farmer that will take care of it, not rape it. Going rate around me is only $50 per ac per year.
Also, location plays a big part. In mine, I'm just outside the city limits like one street. There is no way the city can grow without coming my way. For years I been fighting them due to them trying to suck me in. That would send my taxes up big time, but also I could develop the land. My land in my area is now going for 10K+ and ac were just 10 years ago it was only going for 2.5K.
Land ownership is not all that great. If it wasn't given to me, I would of never bought it other then what is known as my home place. That is a bit over 60+ac which 75% is woods.
Also, location plays a big part. In mine, I'm just outside the city limits like one street. There is no way the city can grow without coming my way. For years I been fighting them due to them trying to suck me in. That would send my taxes up big time, but also I could develop the land. My land in my area is now going for 10K+ and ac were just 10 years ago it was only going for 2.5K.
Land ownership is not all that great. If it wasn't given to me, I would of never bought it other then what is known as my home place. That is a bit over 60+ac which 75% is woods.
Posted on 11/13/12 at 9:27 am to jimbeam
May want to wait a while, with all the prices being as high as they are you are going to pay through the nose. I plan on working like a dog after grad and save up.
Posted on 11/13/12 at 1:27 pm to GREENHEAD22
you think prices are going to go down?
Posted on 11/13/12 at 1:29 pm to jimbeam
I wouldn't wait. I doubt prices are going down. If anything, they will probably be going up.
Posted on 11/13/12 at 1:30 pm to guttata
exactly my thought
Posted on 11/13/12 at 3:25 pm to jimbeam
Well I am planning on a major collapse coming, people will be selling anything they can. Yea I know I am a little crazy. Until then though, yes they will continue to rise.
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