This entry was posted on Monday, July 16th, 2007 at 10:38 am and is filed under Home Buying, Did You Know?. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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July 16, 2007
Often when buying homes, people encourage each other to buy the most land possible. While there is certainly some value to buying the largest lot in a nice suburban area that you feel will grow in value, you should always opt for actually being in that nice suburban area regardless of the size vs owning several acres in a completely undesirable area (Look on eBay, people can’t GIVE AWAY plots of land in Box Elder County).
The ample supply of inaccessible acreage in the Florida swampland or locked in the Rockies should be a warning sign to buyers that size should never be the primary deciding factor. Location, particularly neighborhood, is generally a better benchmark for finding a good deal.
Of course if the land happens to be filled with Oil you may strike it rich…but there are cheaper lottery tickets out there.
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