Good place to invest in recreational property

[Trial153]

Any property I have bought has always had appreciation as the primary consideration with axillary benefits being secondary.
I am very leery when my thought process stray itto feeling that it, the property is worth more because of my wants and desires.
Also something to keep in mind, quality assets always seem expensive in the present sense but its value is realised when you look at in a historical context.

 

[Newtosavage]

100k land for recreation land, thanks no.
I would spend 3k for trips/camping/overlanding. And 7k for multiple hunting trips, or 1 guided hunt every year.
If lower the bar I would DYI Montana and Colorado hunts every year.

I figure land is a pretty solid investment. Nothing wrong with enjoying it until I decide to sell it. Owning 100K worth of land would not affect my ability to take a few trips each year, otherwise I wouldn't be looking at buying some land.

This is simply a consideration for investment purposes, potentially with the side benefit of using it while I have it.

 

[WCB]

So I'm caught between "buy close where you can enjoy it until you retire" or "buy where you plan to retire" right now.

Anyone want to argue in favor of one idea or the other?

Depends on what you mean by recreate and how much land you can get. I know guys that have spent more than that on 20acres of "hunting land" I would feel so confined and so at mercy of my neighbors.

I personally would hold on until I found land where I wanted to retire. Even more so if you are a few years away from retirement. Prices more than likely won't be going down and you could look for awhile and have that money on hand if the "perfect" property popped up. Obviously this depends on your financial situation but since you are asking I would assume you set that limit for a reason.

 

[Throwin Darts]

I wouldn’t buy any property now. There is a slump in the market coming.

Not unless interest rates jump which I don’t see how they can considering the mess we’re in.


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[Newtosavage]

Depends on what you mean by recreate and how much land you can get. I know guys that have spent more than that on 20acres of "hunting land" I would feel so confined and so at mercy of my neighbors.

I personally would hold on until I found land where I wanted to retire. Even more so if you are a few years away from retirement. Prices more than likely won't be going down and you could look for awhile and have that money on hand if the "perfect" property popped up. Obviously this depends on your financial situation but since you are asking I would assume you set that limit for a reason.

My next question is whether buying land 5-6 years before you retire in a place where you can't easily get to it now, makes more sense than just investing that money and seeing what the situation looks like on the ground at retirement. Lots of things can change in 5-6 years, and having money tied up in land that I only see once or twice a year worries me a bit. Not just because it's harder to get to, but also because I've moved to an area before, only to realize 6 mo. to a year later that I wish I had bought somewhere else.

Sure sucks to not know exactly where we plan to retire. LOL I sometimes envy people who know years or decades in advance where they plan to retire, and can invest early and often until they do.

 

[Laramie]

If you are thinking out west, I would strongly consider the past and predicted political landscape. I wouldn't buy even cheap land in Colorado right now.

 

[Newtosavage]

If you are thinking out west, I would strongly consider the past and predicted political landscape. I wouldn't buy even cheap land in Colorado right now.

why do you say that?

 

[Trial153]

Talk about convoluted logic, the only place that land has value is where you "think" your a part of the political majority.
Colorado is great states with great hunting, great people and great community's

 

[Marble]

Any property I have bought has always had appreciation as the primary consideration with axillary benefits being secondary.
I am very leery when my thought process stray itto feeling that it, the property is worth more because of my wants and desires.
Also something to keep in mind, quality assets always seem expensive in the present sense but its value is realised when you look at in a historical context.

This is why people who pay off homes as soon as they can then get the ability to become wealthy. They usually then turn right around and invest with the idea of building wealth.

 

[Marble]

why do you say that?

Its because politics in CO are closely following CA. And I'm from CA. Its a shit show for sure.

I love love love CO. But I've watched over the last 20 years, CA stuff slowly infiltrates CO. Every week laws and proposals come about that my wife and I just shake our head at.

 

[Trial153]

This is why people who pay off homes as soon as they can then get the ability to become wealthy. They usually then turn right around and invest with the idea of building wealth.

I agree in principle. However in practice I think I would have been behind the curve if I let leverage, on my primary residence get in my way of acquiring assets.
Home ownership has many facets and there is no denying that for many people it turns out to being their biggest asset. I always felt like that was trap I didn't want to fall into.
But I agree, free up cash and credit to purchase assets for long term growth and value

 

[tdhanses]

I’d buy a 40+ acre parcel in Forbes Wagon Creek Ranch. Private land owners associati

If I was given $100K to buy land (that I would recreate on) and had to spend it in the next week, I would buy some acreage in the Upper Peninsula of Michigan. $100K doesn't go very far out west. Gimme $500K to spend and that would be a different story....

Oh there’s plenty of nice places in the west for $100k or less, even up to 70+ acres in prime elk and deer hunting, just have to look.

 

[tdhanses]

TX for the next 6 years unless I can find a quicker way to get out.

Why do you ask?

Being your in TX I’d look at southeast CO.

 

[HoneyDew]

I agree in principle. However in practice I think I would have been behind the curve if I let leverage, on my primary residence get in my way of acquiring assets.
Home ownership has many facets and there is no denying that for many people it turns out to being their biggest asset. I always felt like that was trap I didn't want to fall into.
But I agree, free up cash and credit to purchase assets for long term growth and value

My philosophy is that a home is a HOME not an investment. You should buy it because it’s where you want to LIVE. Sure it may appreciate and you may turn a profit but that’s dependent on you buying another HOME. It does you no good as an investment if you’re living in it or can’t sell it when you need liquidity. Sure I’m over simplifying it as there are vehicles to access that equity but if it requires more leverage on your home then it likely isn’t likely the easiest or best path. If you want a property or house to rent out or somehow appreciate then that’s an investment and I treat them separately with such purpose in mind.

 

[tdhanses]

If you are thinking out west, I would strongly consider the past and predicted political landscape. I wouldn't buy even cheap land in Colorado right now.

Why, do you feel it’ll lose value or Is this just because it’s leaning left? Land will always appreciate unless you buy in a wasteland of violence.

 

[tdhanses]

Its because politics in CO are closely following CA. And I'm from CA. Its a shit show for sure.

I love love love CO. But I've watched over the last 20 years, CA stuff slowly infiltrates CO. Every week laws and proposals come about that my wife and I just shake our head at.

Guess I’d do the opposite I mean look at land values in CA, based on your logic CO will be a gold mine to landowners In 20 years.

 

[Trial153]

My philosophy is that a home is a HOME not an investment. You should buy it because it’s where you want to LIVE. Sure it may appreciate and you may turn a profit but that’s dependent on you buying another HOME. It does you no good as an investment if you’re living in it or can’t sell it when you need liquidity. Sure I’m over simplifying it as there are vehicles to access that equity but if it requires more leverage on your home then it likely isn’t likely the easiest or best path. If you want a property or house to rent out or somehow appreciate then that’s an investment and I treat them separately with such purpose in mind.

Agree, my home's have been to live in. Our investment property's have been just that, investing. Any axillary benefits that came from the. was just that, secondary to the investment.
I think if your serious about acquiring assets that lead to wealth you need to do that in addition to paying for a home, meaning at the same time. Time is your allie and can be your enemy if you wait to long.

 

[Laramie]

Guess I’d do the opposite I mean look at land values in CA, based on your logic CO will be a gold mine to landowners In 20 years.

The OP is looking for a retirement property. Building wealth isn't typically a key consideration. I don't think CO would be bad right now if you were off the front range but the outside influences, as mentioned previously, are slowly taking more control yearly. Just look at your policy differences right now between Wy and Co regarding the pandemic - tells you all you need to know imo.

 

[tdhanses]

The OP is looking for a retirement property. Building wealth isn't typically a key consideration. I don't think CO would be bad right now if you were off the front range but the outside influences, as mentioned previously, are slowly taking more control yearly. Just look at your policy differences right now between Wy and Co regarding the pandemic - tells you all you need to know imo.

Usually people look at investment properties as that, but we all have our views, I bought my retirement land in CO last year and I’m 30 years from retirement, who knows may just sell it as the value grows.

 

[Laramie]

Usually people look at investment properties as that, but we all have our views, I bought my retirement land in CO last year and I’m 30 years from retirement, who knows may just sell it as the value grows.

In your case that makes sense. The OP is retiring in 6 years. Likely not a lot of value change between now and then.