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I haven't done it but did a lot of research as it was an option a few times as we were looking for a house, where we'd have a sub dividable piece of land that was a candidate for us to build a house and develop. I don't know where you are but if you're buying 15 acres for < 100k, I would not presume that holding it undeveloped would be a good investment. The potential for investment gains would be to develop it and what you need to understand is that, when you are buying raw land, you are assuming all of the risk that it cannot be developed further. As you progress in developing it, it increases in value because you have eliminated some part of the risk. Even just preliminary approvals to sub-divide increase the value, and then on down the line to ready to develop lots where there is next to no risk for buyers. I will second the concern that if the thought of 20% down concerns you that you probably aren't in a great spot to be able to do this because of the numerous costs fishhooked out lined once you get the land.
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Feb 11, 2015 17:19
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| # ¿ May 11, 2024 10:26 |
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