First World Problem - Would You Buy Land Right Now??

[Pagosa]

I have always liked land, most of my life I could never afford it. Just be aware that land will consume a large portion of your time to keep it productive, which doesn’t always mean profitable. Spraying weeds is a never ending job in the summertime, building repairs, fencing, tree removal, gophers, wind storms, fire protection in the summer months, beetle kill tree removal, well/plumbing issues, keeping trespassers off in hunting season, haying…wtf… and it can seem overwhelming. Unless you have the means/knowledge to maintain it, it will be a constant job for a large portion of the year, or you will be paying a small fortune to hire someone that has the skills and knowledge to complete the repairs. And you will find yourself not having time to do the things like hunting, fishing, and horseback riding that you used to enjoy, bc you have projects at home. Anyone that leases land is not really going to put any work/effort into maintaining it like you would.

And as far as hunting, big game animals can move miles in 24 hours, and you neighbor can just as easily shoot them before they reach your property, or a lucky hunter from the road. And realtors are known for putting pictures of one bull/buck that passes through the property once a year on their website real estate listings.

So I have changed my mind on some things about land from growing up on family property. And have come to the conclusion that we don’t own the land, but just get our 5-40 years of ownership and it’s goes to someone else once we die and our labor passes with it. God owns the land and the animals on it, we don’t, but just manage it for a few years until we die. I would rather store up treasures in Heaven because I know I’m not meant for this world. And having time to go fishing at Ft. Peck with the family, riding horses with my daughter, etc is more rewarding for me. I agree that there isn’t anymore land being made, and I can’t afford it anyway, but our time on the earth is coming to closer really fast, just look at weapons of war, global populations, decreasing wildlife populations, etc and you will see that our days are numbered on earth. Owning land is great and rewarding too, but just be aware of the work and time involved.

 

[squirrel]

RE in general right now is tricky. (of course it always is) Biggest single question after looking at comps to make sure you are paying proper valuation is cash vs financed. Advantage cash...

Next would be ROI in cash. Gotta at least cover the yearly rent check to the gov't right?

Bringing up the rear but still important is would you be using it to live on and do you consider the work to keep it up to be fun or work. You hate the work or hire it out and it sure changes things same as if you love the work and do all of it yourself.

Historically RE holds better than most in inflationary times, but inflation is now over.

 

[Shodan]

I don't have reservations about buying it, it's more about what will happen over the next couple years which no one really knows the answer to. My concern is buying it now for X and it being worth X minus 20% over the next 1-2-3 years. It's more the covid run up that I have reservations about. I guess in the end it all goes up eventually even if you bought weeks before the 08 crash started and held to now you'd of made out pretty darn good.

But the "Covid run" started a bit before covid, and it's lasting trend: covid's over, yet the rich nerds who fled Silicon Valley and Los Angeles, perhaps to places like the one you're looking to buy (or just to renting in nearby mountain towns) - aren't eager to come back to the overpriced, overcrowded cities where they lived for years. Even as the prices in said cities have, indeed, for the 1st time in decades - dipped during covid. And I just don't see that happening in the forseeable future. I don't own land, but I've lived there myself, paid the stupid rent for very little housing, now I'm in Colorado. I'm still renting, heh - but now I'm paying way less $ for way better housing in a much nicer area (both micro-area aka neighborhood, and macro-area aka being on the Front Range of the Rockies) - and cannot see myself going back to L.A. or Silicon Valley. So I don't see the prices for land in places like that coming down. That's before any concerns about the national economy affecting USD values in the near future...

 

[ismith]

Self help for only $80.
Girl not included..View attachment 314480

How much with the girl included?

 

[ismith]

I'm getting close to making an offer in a property in a western state. It basically is a smaller cattle operation with house, shop, barn, etc. It's a low 7 figure price. I wouldn't be using it as a cattle operation but more recreational. I have the money to do it but part of me is hesitant because in the back of my mind I keep thinking maybe prices will drop to something close to 2020 levels and now I would be over paying, but maybe not. Even if that where to happen it wouldn't effect me in regards to paying for the property. It is priced a little on the high side because it's close to the mountains, has a year round creek, pond, good views, etc. I could go an get 2 or maybe even 3 times the rangeland for the same price. Would any of you pass on something now even though you could afford it or would you still pull the trigger knowing there could be a bit of a drop in the next year or two?

Buy it. It’s a race between interest rates and inflation rates.

 

[gouch]

If you want it and can afford it buy it. If you're just doing it for an investment, then study up on it a little more to see if it's the best choice.

 

[hank4elk]

...not near me. LOL
I paid nothing and it's worth more than nothing now.

Never had a property I lost $ on.

 

[wytex]

I put in an offer on it last night. Their agent(I don't use agents for buying) said it was a good offer so now it's on to them to decide.

Good luck and hopefully congrats on your purchase !!

 

[Shodan]

I don't use agents for buying

+100 to that! If you've made it to being able to afford that land - in terms of finances you probably know what you're doing better than most who claim to be a "professional real estate agent" :-D

 

[rebjfan]

I put in an offer on it last night. Their agent(I don't use agents for buying) said it was a good offer so now it's on to them to decide.

Good luck, I hope everything works out well for both parties

 

[geetar]

I see where you are coming from but there is no guarantee prices will go back down. A lot of people think they will and at one time I did too. But the only way prices are going to go down is for supply to increase and only way for supply to increase is for people to start selling which may not happen unless there is a big jump in unemployment.

Agreed there is no guarantee but my current house and land is paid for so no reason going in to debt at a high interest rate right now. If I build it will be when we need more room in a few years.

 

[Desk Pop]

I’ve wrestled with this myself for the last five years at least and always regretted not pulling the trigger the way land keeps creeping up. Coincidentally, I made an off today for straight land, no shop or house or any improvements. I’ll post back in a few days and let you know how the offer was received.

No shop or house....so you need a tent?

 

[Desk Pop]

I kid, I kid...but you can't set it up on a tee like that.

 

[Two Trax]

Bought my first piece of land, 60 acres, 31 years ago, have added 295 acres in the years since. Never regretted it for 1 second. Built my home on it. Have enjoyed every minute of owning and improving it. I can walk out my door and enjoy the fruits of my labor, whether just going for walks with our wonderful pets, hopping on an atv for a ride, going hunting or the many other things I do. Best money I ever spent.

 

[Boarmaster]

If I had the cash for it and buying it for my own long term enjoyment then I would buy it. If I had to borrow money for it I would pass right now. For myself losing value on a property bought with money I already made is more palatable than on money I haven't made yet.

 

[TimeOnTarget]

Good luck!

I’ll buy the right piece of land whenever it comes up for sale. It will only be for sale once in my lifetime.

 

[DWarcher]

The fact that you are asking for advice from people you don’t know doesn’t sound right to me.

Yep, that seems odd.

 

[Straight Arrow]

The fact that you are asking for advice from people you don’t know doesn’t sound right to me.

Not meant to be disrespectful to you, but I think if you remain a reader of Hunt Talk threads you will recognize the vast knowledge, expertise, and professionalism of many Hunt Talk regulars who are CPAs, lawyers, engineers, realtors, financial planners, plumbers, electricians, bakers, and fancy woodwork makers. Readers of Hunt Talk may gather valuable information and advice on much more than hunting, wildlife, and public land issues, but also regarding a mydriad of other topics of interest and importance. Much of what you learn on Hunt Talk would cost a great deal more if you were to solicit the information elsewhere.
Personally, I hold much respect, admiration, and value in the opinions and factual perspectives of many Hunt Talkers whom I've come to recognize as knowledgeable and highly credible.
Yeah, there is also alot of nonsense to be found here ... but you gotta sort the wheat from the chaff!

 

[rebjfan]

Not meant to be disrespectful to you, but I think if you remain a reader of Hunt Talk threads you will recognize the vast knowledge, expertise, and professionalism of many Hunt Talk regulars who are CPAs, lawyers, engineers, realtors, financial planners, plumbers, electricians, bakers, and fancy woodwork makers. Readers of Hunt Talk may gather valuable information and advice on much more than hunting, wildlife, and public land issues, but also regarding a mydriad of other topics of interest and importance. Much of what you learn on Hunt Talk would cost a great deal more if you were to solicit the information elsewhere.
Personally, I hold much respect, admiration, and value in the opinions and factual perspectives of many Hunt Talkers whom I've come to recognize as knowledgeable and highly credible.
Yeah, there is also alot of nonsense to be found here ... but you gotta sort the wheat from the chaff!

Thank you for a polite rebuttal, which I think that I probably deserved. Surprisingly I thought the next day that I didn’t word that response right. He could have said’ I can’t wait to buy this land but the way I read it he was saying I reckon (southern term) I will buy this land. Kinda like someone said’ don’t marry a woman you can live with, marry a woman that you can’t live without’.

 

[mtmuley]

Not meant to be disrespectful to you, but I think if you remain a reader of Hunt Talk threads you will recognize the vast knowledge, expertise, and professionalism of many Hunt Talk regulars who are CPAs, lawyers, engineers, realtors, financial planners, plumbers, electricians, bakers, and fancy woodwork makers. Readers of Hunt Talk may gather valuable information and advice on much more than hunting, wildlife, and public land issues, but also regarding a mydriad of other topics of interest and importance. Much of what you learn on Hunt Talk would cost a great deal more if you were to solicit the information elsewhere.
Personally, I hold much respect, admiration, and value in the opinions and factual perspectives of many Hunt Talkers whom I've come to recognize as knowledgeable and highly credible.
Yeah, there is also alot of nonsense to be found here ... but you gotta sort the wheat from the chaff!

A motley crew for sure. Glad to be part of it. mtmuley