Tuesday 16 June 2020

Looking At Real Estate Listings Is Dangerous

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!

1 comment:

  1. If there are buildings, then there likely already is utilities on the property. To bring in utilities would cost 10k or more. FYI
    Also there may be sewer or septic already as well as a well or city water brought in. You are looking at almost $50k in services.