So, one of the things that I do is to look at real estate listings, generally for vacant land in the form of a Quarter Section (1/4 square mile or approximately 160 acres).
I try to keep an eye on what is available and what I can get within my price range.
Sure I could by a quarter section of land down near the city where I live, but it is beyond stupidly expensive.
I’m not saying that it’s now worth it, but only with a lotto win could I afford it, and even then it would be very expensive to own (as in, extortionary property taxes).
Anyways, so as it happens a nice property came along, a smidgen out of my price range (or target budget) yet it was not far from a town and had a house and shop on it.
Now, the house and shop were not finished but they were there and started. My mind started churning on how I could make this work . . . as in buy it now.
It was tempting but no matter what I came up with, everything resulted in doing so now would be folly.
It would be nice and I would jump at the chance, if I could find that property, in that price within commuting distance to where I work (even if just for weekends).
I came back to reality and decided against buying that place, and while I will continue to shop for land, I will only buy vacant land if it is the perfect piece of land without buildings.
Buildings will deteriorate over the next five years that I won’t be there. The thought of putting renters in there is not possible, as the buildings are not finished.
It is nice to dream and it is vital to keep looking, so I know what is out there for what price and can watch the trends over time.
Buying just now would be foolish, tempting but foolish.
As always: Keep your head up, your attitude positive, and keep moving forward!