With Real Estate demand so high, interest rates low yet growing, and inflation that seems
to have no end in sight as it continues rising daily, then it stands to reason that buying land
where you can start to build your own future wealth is one of the safest moves you can
make today, as well as always. Of course price depends on location and other factors too.
No matter what, land is a safer and smarter investment than putting your money in a bank savings at much less than 1% interest, or in the stock market which is a real gamble. When you take time to get answers that you need to know about the land, the area, and what the county and state requirements are that the land is in, this will give you the assurance as to whether or not the parcel of land is right for you and your plans for it in the future.
If there is no time limit to build, then there’s no need to rush into building right away either, which allows you to do things at your leisure through time and as your finances allow you to continue moving forward, one step at a time, or as fast as you want if you want. There are always construction loans you can get, which most Credit Unions are your best bet for that. However, in order to get a construction loan, you need the land, so that's step one. Get the land first. 😉
Although some people have become wealthy investing in the stock market but way too many have lost an awful lot. It's a known fact that practically all wealthy people who have become rich mostly did so through investing in Real Estate. And many of those own land elsewhere as well. Don't believe me? Just Google "Bill Gates Land Ownership", or "Jeff Bezos Land Ownership", or any other wealthy well known investor.
Investing in the stock market is a much higher risk which is fine if you have money to burn since it won’t matter if you lose or not then. That’s not to say that land is a guarantee your investment in land will grow "IF" you overpaid for the land to begin with. There are a multitude of ways to value land so you can determine whether it’s a good price at the time you're buying it. Don’t overlook this important tip. If you need help with figuring that just let me know.
As long as you buy at a price that is right “for you”, and you see the value in it, then the land will do more than grow in value over time; it can serve as the door to a much better future because you invested in something which will help to build what you’re looking to create. Whether it’s a home you want to live in, or the fact that your money is growing much better than any bank can ever provide, investing in land gives you much more through time in order to move up into the life you’d like to have. And, that’s real truth you can bank on. 😉
By the way, if you’re utilizing Seller Financing then be sure it’s something you can invest in safely throughout time which makes sense. Not all investors are alike when it comes to selling their own land, so consider all fees factored into the total end cost after all is said and done, which needs to be well laid out in writing within your Agreement.
Those other fees can include things like property taxes, HOA or POA fees if applicable, servicing providers, billing/ accounting, recording, documents, holding fees, and any other costs estimated over time which would be factored into the monthly payment.
Of course, Cash is always best without all the extra costs, and it’s more immediate allowing for a quick close and transfer of the property Deed as required by law. To me, this is such an easier way to understand exactly what you’re getting and paying for rather than having to do the math, and for far less. After all, who really likes Algebra, right? LOL.