37 and looking to graduate in 2027

[dallas27]

Quote:

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.

[kaudrey]

I'm shooting for 2026, so I'm close.

For the land, I'd say it depends. My parents bought land about 15 years before they retired, built a house on it when they retired, and have lived there for the last 20 years. But, they pretty much knew exactly where they wanted to retire and how, and found a lot that met those requirements. There was no upkeep on a 5 acre lot of woods, and taxes were minimal without a house on it.

[Brianeboatman]

Interesting! I am looking at 3 acres of wooded property in Washington state, where I was raised. I KNOW that I want to end up there and have plans in motion to be there in 13 years. The taxes (as of today) are approximately $350 per year. My thinking was that I could travel up at least once a year and camp out in the land and make slight improvements to the land. For example, I could plant trees, remove trees, put up a fence, build a shed, etc. Then, in 13 years, I would build the house and rot there. I can't wait. I do understand the liquidity issues and recognize that life happens. I'm not sure what to do. To be honest, I think my emotions are driving my desire to buy. Having that land would make me feel like I'm closer to moving up and retiring.


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