I bought 2 1/2 acres for about $50k in a proposed development area. i bought it in 2001,paying $476mo. for another 7yrs. I bought it for retirement reasons or my for kids. Any comments on this kind of investment good or bad. I just hope it pays off big time.
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I would not sell it now. But, it should pay off later. There is only so much land to go around, there will never be any more.
If the housing market manages to stabalize within the next few years, or even decades, that little bit of land can be worth quite a pretty penny. If you manage to build a good house on it, then you’ll be pretty much set for life…