I want to buy land now to build on in ten years. Is it better to invest that money and wait to buy?

The land value could double in ten years.

Asked by swh3009

2 Answers

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Answered by Charles Scott, Financial Advisor in Scottsdale, AZ
As the folks in the land business like to say, "They aren't making any more of it." Do you have the funds available today? Will the land likely cost more ten years from now? I would also suggest looking at any other investment choice you could make and seeing if that might appreciate more than the land might. Be honest with yourself when you compare the potential choices. | 05.17.16 @ 15:27
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$commenter.renderDisplayableName() — {comment} | 12.06.16 @ 14:26
I would hold off. We almost certainly will have a recession over the next ten years, which will likely give you a better buying opportunity than today. Real estate prices are broadly overvalued. You have flexibility of time, therefore I would keep that money liquid and safe (think a Money Market Account) until the next recession and a downturn in land prices. | 05.17.16 @ 20:42
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$commenter.renderDisplayableName() — {comment} | 12.06.16 @ 14:26
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