Should I buy land?
My aunt owns my grandfather's home in Star Valley that he built after he retired.
There is a pasture in the back, that my aunt says she is holding for me if I want to buy it. I'm not sure how big it it. Maybe 2-5 acres. Something like that.
Now here's the rub. My dad already owns a small parcel of hillside land very near my aunt's property.
I figured that one day in the future I might pitch in and help my dad (with $) build a house on his property.
I have no idea how much my aunt would want (market price vs. lower than market). I'm certainly not going to do anything with the land anytime soon if I bought it.
Yet, I know that property out there is at somewhat of a premium, and it might be good to grab mine.
If I bought it, I doubt I would ever sell it. I buy ancestral land, I don't sell it. So it wouldn't be an investment that way.
Though I might look into renting it for a few buck for hay or alfalfa, or whatever.
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