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Answers (10)
- Derek Zasaretti, "Derek_Zasaretti"
- Contributions:343
Location location location. Make sure that you have an exit strategy.
- user696198
- Contributions:3
Land has been out of production for 2000 years !! It had always been a good choice until a few years ago , the market was reallly inflated , currently its undergoing a correction . There are some deals out there, If I was trying to make money I would buy a house , the rental market is going to be strong for a while ,it dosent look like the foreclosures are over. The most important thing is picking one thats undervalued or in an upcoming neighborhood.
- NORWICH11
- Contributions:6
Owning land in New York State is a headache. There are crooks everywhere. Neighbors want to steal your trees, or they want to ride their stupid four wheelers ( if they fall they will sue you because they figure you own the land so you probabably have lots of money ). If you dont have a house there and just visit once in a while the disrespectful neighbors will take their dogs to do their crap in there for you to clean up. They would just turn around and look like they have done nothing wrong. They will come for you two times a year to pester you with the taxes. If you dont have a family you are in for a surprise.In the long run though, despite the headaches, like stocks, owning land does become a good investment, depending on the location of course and the topography of the land.
- Chad Stewart, "Chad Stewart"
- Contributions:76
No residual income, and the constant expense of taxes & maintenance can make this a very tricky investment. At lease in our area, a very high supply of land, over 5 years currently, does not make is a wise idea.
Other areas, and with a good vision of the area, research, zoning change & more can all play into a good land investment.
Other areas, and with a good vision of the area, research, zoning change & more can all play into a good land investment.
- John Taylor, "JohnATaylor"
- Contributions:17
Buying land depends on what the use will be and how soon it will be used. If you are buying land to build your dream home in the area that you like and you plan on building soon then its a great investment.
Research the restrictions and usage of land before buying. If you plan on building down the road say 3-4 years ..remember , there will be costs associated with owning the land prior to building on it.
Research the restrictions and usage of land before buying. If you plan on building down the road say 3-4 years ..remember , there will be costs associated with owning the land prior to building on it.
- DebJacobs
- Contributions:13
I wouldn't even if I had the money to do it. I have a friend who bought and that they thought would be a great investment, but they ended up losing it because it did not generate any money for them - just ate them up in insurance and taxes.
- Thomas J Santore, "Thomas J. Santore"
- Contributions:247
Land is a great long term investment and short term. A plot of land that has no approvals but under advice of an engineer can be bought cheap enough that if you spend some money to get the approvals to build can have a return of 60-100% profit. A plot of land with approvals can also be a good long term investment in a down market such as today. But you need to keep the approvals current until you sell it a few years later when the market increases for a profit.
- sunnyview
- Contributions:25139
No return on land just taxes so you have to consider that and when demand for land in your area will return. In many areas, the high inventory of existing residential will mean that land stays flat for a while in those areas.
- Terry Stout, "TerryStout"
- Contributions:3
If you are looking to buy land for a long term investment it may be a good one. Before you purchase the land consider the prospects for utilization? How is the land zoned? Is there water/Sewer available. If you plan to build homes and it is currently zoned residential, the zoning could change so you would not be able to complete your plan.
Long term as the population grows land becomes more valuable, supply and demand.
- Linda Strasberg, "L Strasberg"
- Contributions:2315
location location location zoning zoning zoning
I wonder if buying land is a good investment.
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