Question
Would it be a smart move right now to invest in land?
My husband is obsessed with the idea of owning land. We are young and he is in the military, so we wouldn't be building or living on it any time soon; only making payments. I want land someday, and we both agreed that we want about 20 acres in or around Minnesota. I'm just worried about something happening or someday our plans change, and being forced to sell it. Would it be a poor investment?
6 months ago - 4 answers
Best Answer
Chosen by Asker
All such investments are risky. You could get lucky and find that, in a few years, you can sell the land to a developer for several times what you pay for it - or you could suddenly find it has been re-zoned and your taxes are impossible, forcing you to sell immediately for whatever you can get - and you could well lose your shirt. There ain't no rush, kids. You have plenty of time to consult with an investment counselor before laying your hard-earned money down. That really is your best move right now - gather as much real information as possible and look real carefully at what you want to do. Meantime, save as much as you can for several years so you can make a sizable down payment. That'll reduce the amount you have to borrow, and of course, your monthly payments. And if kids come along in your marriage, you're liable to be very glad for lower monthly mortgage payments, eh?
by Billy M
6 months ago
Asker's Rating: 
Other Answers
no one will be able to answer your question....
by mar c- 6 months ago
Unless you have liquid cash to pay for the land otherwise, buy only what you can afford. Living on loans may not bring financial rewards.
by SG Elite- 6 months ago
if you can pay cash buy it. If you have to incur interest expense to buy it then pass. Land is a horrible investment. so why pay interest expense for a bad investment?
by David Z- 6 months ago