Advantage/Disadvantage of Buying Land

tylerrr · Post by **tylerrr** » Sun Jun 10, 2012 12:22 am

Who here has decided to buy land and do the homestead thing?
I struggle with whether or not to buy a few acres because sometimes I think I should just invest the money instead and have more monthly income with flexibility.
I love being in nature a lot, but I also love being in the city at times so I can enjoy art, music, architecture, etc.
What choice did you make? Or do you try to enjoy both city and country life?
thanks....

Ego · Post by **Ego** » Sun Jun 10, 2012 2:31 am

The world is changing fast. The pace of change is accelerating.
Those who succeeded most in times of rapid, accelerating change in the past where those who were the most flexible.
Land is inflexible.

Christopherjart · Post by **Christopherjart** » Sun Jun 10, 2012 3:19 am

I would imagine that owning land would be good against inflation.

tylerrr · Post by **tylerrr** » Sun Jun 10, 2012 3:24 am

@Ego,
yes, land is somewhat inflexible. That's what has kept me from buying. I guess I'm wanting the best of both worlds.

Ego · Post by **Ego** » Sun Jun 10, 2012 4:26 am

Innate desire to nest and to secure ourselves, fixed and stable vs. the rational understanding that we must remain flexible to facilitate adaptation to change. Conflict. No easy solution.
I tend to err on the side of flexibility, believing that whole industries are based on the exploitation of my innate desires. Others value the peace of mind that comes with ownership and wouldn't trade it for all the flexibility in the world.
There is no right answer.

chenda · Post by **chenda** » Sun Jun 10, 2012 10:23 am

Maybe diversify and do both ?
I plan to get some land eventually, but personally I would not want to rely on income from growing produce, unless I was skilled and wanted to run it as a full time business.
But perhaps as a hobby and maybe to earn some extra cash.

jennypenny · Post by **jennypenny** » Sun Jun 10, 2012 10:34 am

Owning land, if you choose wisely, would give you the benefit of being able to feed yourself, provide fuel for heat and cooking, and protect yourself if you see that as an issue. It's also a big commitment of your time and resources. DH is pushing for land, but I hesitate because I don't like being tied down either.
I think I'm coming to the conclusion that having land is probably a good idea, but I would only want to own as much as I'm willing to walk away from if needed.* So how much is that? 10% of your net worth? 20%? Not sure. I think I would also apply that rule if we decided to buy an apartment and live in an urban setting.
* note: I don't mean walk away from a mortgage

BeyondtheWrap · Post by **BeyondtheWrap** » Sun Jun 10, 2012 12:47 pm

Remember, owning land doesn't necessarily mean you have to live there.

mikeBOS · Post by **mikeBOS** » Sun Jun 10, 2012 1:06 pm

Depending on where you are land can be so cheap as to make it a fairly inconsequential financial move relative to your entire estate. If you're just looking for a few rural acres you can probably find that for about the price of a used car.
As far as city vs country. I prefer rural life, but being less than 2 hours to several large cities makes it easy to spend a day at the museums, or taking in a show, or making it to a special event. Bonus if you can get land near a railway station that could take you into the city. New England's good for that kind of setup. Boston and NYC nearby, and dozens of medium and smaller cities all around, and once you're about 90-120+ mins outside of the cities the land prices plummet.

tylerrr · Post by **tylerrr** » Sun Jun 10, 2012 1:54 pm

If I bought just a few acres more than 2 hours away from a city, I could walk away in a worst case scenario like someone mentioned above. My only expense would be taxes on the land. That way, the risk is not huge.

Dezdura · Post by **Dezdura** » Sun Jul 01, 2012 9:00 pm

I believe that innate desire stuff as well, but I am 53 and do not want to work when I am 60. I plan on buying a little cheap fixer upper in a cheap place-- I think suburbia might be both in and out of a city. I like the country, but I am not a country girl. I like the idea of going to buy bread in the middle of the night if I need it. I want to be close to various events and services, so I would have to choose living in a city. To me, it would be pretty isolated and scary to live "in the country."

Fred Tracy · Post by **Fred Tracy** » Sun Jul 01, 2012 9:39 pm

I'd probably homestead if I were already FI. But because I'm not, to avoid commuting and such I want to live in the city.