Originally Posted by 38Chevy454
I would not buy bare land. Invest the money instead, and then in future you can buy the land at increased prices with the increased investment money.
Bare land now will cost you each year in taxes and potential upkeep, while being a lot less liquid in the event of changed plans.
Agreed, creating a sunk cost with negative returns based on a presumed far future value that ultimately would have probably calculated out to a wash anyway creates humungous risk for you. 13 years from now everything could be rezoned, gas station gets built, local employers move out of the area, city government goes bankrupt in a scandle.
Now, if you can buy the land, and rent it to a local farmer for hay to cover expenses, that's a different story, but never buy something that isn't either 1) productive or 2) brings you value through enjoyment/happiness/utility.