Would You Buy This Land?

I'd out move further out, too. Cities have a habit of annexing in neighboring lands/properties to expand into...and then stop you from doing what you were intending to do. And charge you for the 'service', to boot!

Meg

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All life requires death to support itself. The key is to have an abiding respect for the deaths that support you. --- Mark T. Sullivan

If you are looking for a long term home, I would pass.

If you are looking at moving down the road, I would buy.

Large dairy farms out west buy land as close to cities as they can get. They farm until they get an offer from a developer. They then sell at a profit, and move out again as close to a growing city as they can.

Look at what you think your place will look like in ten years if you buy or pass. Then choose base on your projections.

If you are questioning, you already know it's a no go.

You can make money from raw land, but you really have to do your homework and plan on holding it for a while.

If you can rent it out without having the land destroyed to cover payments & taxes, you're even better off but that seldom happens.

Get a seasoned land realtor that knows the area you want & pick her/his brain.

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Only she who attempts the absurd can achieve the impossible

We bought five acres of land with a decrepit house, just INSIDE city limits six years ago. We paid 230k.

We were offered (admittedly with many conditions) 1.5 million a year ago. We told the developers to come with an unconditional offer or to ---- off. They ----ed off.

Land can be an unbelievable investment. When your stocks crash, you can't grow pork on the worthless piece of paper you hold. When real estate crashes, you've still got the land.

Pete

There's too many questions that only you can answer. I have bought land adjacent to my land and home in the past. Paid a little more for it at the time then it might have been worth. Could have bought land cheaper down the road but I couldn't get it moved next to my land so I bought the land next to me.
You can run away from town but in the end town will catch you. you can buy land away from your home but you'll most likely never go there or do anything on it and gas ain't getting any cheaper.

15k per acre isn't high for land that joins city limits east of the Mississippi. Unless somehow they've invented something new I don't think they're making any more land in Ohio so it's always going to be worth something. There will be increased taxes on it so it might not be the great investment property but it might make you happier than a CD or a mutual fund.

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"Education is the ability to listen to almost anything without losing your temper or your self confidence"
Robert Frost