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So I really want to buy some land. I have done no research other than eyeing a bunch of properties. I also have no rationale, other than this desire to own land, and the belief that its value is unlikely to decline, and likely to appreciate.
Lups and others - what are your thoughts as an investor?
The current property I'm eyeing has a river/stream running through the middle of it, so there will be a lot of environmentally protected land that I can't build on, but the idea is to land bank it so that in 10-15 years, I could try to get the zoning changed to allow for a subdivision / estate lots, or sell to a developer.
Also, the current property is slightly over 100 acres, and is a mix of bush, and listed for under $900K. I'd have to walk it of course to see if it is all low lying land that is marshy and not suitable for development, but if it were suitable....very interesting.
I could see it being worth $2.5M plus in 10-15 years, more if I could get the zoning changed.
The hitch of course is my wife has said no. As in "Not a chance". She's pretty adamant about it. And it would take a lot of effort on my part to try to convince her otherwise, so I'm not sure its worth the effort.
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