Buying land

[gmj]

What’s everybody opinion? Buy land with the minimum 20% down and pay a bunch of interest for the next 20 years or wait 5-8 years and buy land with a lot bigger down payment and save some interest?

[Buckslayertx]

Land prices are ridiculous now. No telling what they may be later. Buy now and enjoy or wait and who knows. If you have the money and you found a property you love then I say there is no time like the present. Wait and prices go up or you can't find that perfect spot and you've lost all that time to improve it and enjoy it. Its an investment.

[wsteffen]

Waiting would be good if land prices would slow down. Over the last 10 years or so it seems like the prices have gone up more than the savings on interest would equal. We're looking at the same thing right now, buy the land before we are ready to move or wait.

[Preacher Man]

I agree with Buckslayer. Prices are expected to increase. I’d buy now

[BitBackShot]

The population of Texas is projected to continue to grow very rapidly over the next 20 years.

I wouldn't bet on any sort of price collapse.

[solocam_aggie]

Land just continues to skyrocket in our area. Buy when you can

[Heath]

You can also look at the interest as money you would pay with a lease payment.

[Antlers86]

Buy land now. 20 yrs from now the amount of interest you paid will most likely be made back if you decide to sell. Investment! Find something you like and can afford then buy it.

Land debt is good debt IMO. Land holds value. Car debt and other toys is bad debt.

[kch73]

The closer you are to large Metro area's the more you will pay. If you live in a city and willing to drive, some value's still exist. Also availabilty of water and electricity play a large factor in price as well as the general look of the land.

[El Paisano]

If you find the right place, buy it. Don't just buy a place unless it will appreciate.

[RascalArms]

Like everyone else said...buy now. 2 things I know about land. It won’t get any cheaper and they ain’t making any MORE of it! [emoji108]

[Balcones_Walker]

Buy land because you want to use it, with an eye on appreciation a distant second. As investments go, you'd be better off with an REIT if you're just after the asset class. Even buying a condo or house and renting it out will at least recoup some of the costs.

Unless you have a way to make money off it, buying land is like buying gold, it doesn't produce dividends so its value only go up on scarcity.

[tps7742]

Buy land because you want to use it, with an eye on appreciation a distant second. As investments go, you'd be better off with an REIT if you're just after the asset class. Even buying a condo or house and renting it out will at least recoup some of the costs.

Unless you have a way to make money off it, buying land is like buying gold, it doesn't produce dividends so its value only go up on scarcity.

Good information in these statements. I would add it would depend on the type of land you are looking at and the old saying location location location would factor into it.

[brents45]

Buy land now, pay down principal as you can as often as you can.

[CMS]

Have you considered buying now with 20% down and getting a 10 year loan?