"Whether you think you can or you can't, you're right."

I was in your same boat 15 to 20 years ago. Always wanted acreage and everything that came with it. Was never able to find a place that I could afford. Nothing where I was looking would have even paid the note, much less turned a profit as far as production off the land is concerned.

Finally, 4 years ago we pulled the trigger on 30 acres. That being said, we moved onto the acreage full time and didn't have to worry about finding time to go back and forth.

Thinking back on it now, as busy as our lives have been and continue to be with our kids and their activities, we would have never been able to utilize purchased acreage more than 30 minutes or so away, enough to make it worthwhile as anything other than an investment. If you can afford it and think you will get out there often enough to take care of it and keep it from getting overgrown, go for it. If not, I would just get a cheap hunting lease. Maybe get a hunting lease in the area you are considering for a couple years and see how often you end up going to it to enjoy the outdoors.

I've owned ~50 acres with a house for the last 8 years. Started out using it monthly and due to life circumstances and busy schedules, I think we spent less than 10 days there in the last 24 months. I got a great deal on it and the primary cost (mortgage, insurance, taxes) are very manageable. The repairs/maintenance have added up and are starting to pile up in terms of cost and general inconvenience. I'm also fortunate that my extended family is in a better position to go and they do a great job of taking care of the place...so essentially i'm paying for my sister and parents to have a second home.

The property is great, but it is not somewhere that we'd chose to retire to. As a result, I'm considering trading this property for a smaller property in a different area and putting a small trailer on the property until we're ready to build full time.

So - if it's somewhere you can envision retiring to AND the price is right for your budget, i'd say yes...but don't sacrifice either location or budget until you're certain.

thann07 said:

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"Whether you think you can or you can't, you're right."

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To follow up, I have a young family, a career, live in CS, and lease land from my parents about 45 minutes away. It has its blessings, but when you own land, you will ALWAYS have things on your to-do list (and your to $pend list, and to fix list, etc). Even 45 minutes away can make that difficult. And there are things that MUST get done out there, so it is a firm commitment.

There is also a very different life setup living outside of town (planning trips to grocery, trips to restaurants, etc.).
It's something you better really want.


The flip side is that my coming 3-year-old already knows and loves the ranch, and that time and energy we get to spend out there is completely worth it. The amount of fun that place should be for us is something. I would probably move there and live in a shack if I could get my wife to come too (but she didn't grow up on the place like I did and did grow up in the suburbs).

I think the idea of leasing to try something out would be smart. And, save what you have in the meantime and invest (try to be on the right side of the interest compounding equation).

Also, the hunt and the wait is a huge part of the fun. Once you buy it, you don't get to search anymore. Sometimes that's a good thing, but sometimes being able to imagine all the different possibilities is better than just picking the path. (That includes things like designing the dream house, etc.)

Short term, focus on getting those kids ready to be productive citizens, find their best talents, and make them ready to put that to use. Maybe the land gets you closer to that, but maybe not.

I'd advise living on the property you own. If that means getting less so you can afford it, then so be it. We have long since moved on from the first 25 acre farm we bought when we were 25 but we've loved every minute of land ownership. We now live on and run an operational ranch. I worked 1 hour away back then and drove it every day. Traffic sucked and I wouldn't change that decision if I could. Worth every minute to be able to be at my happy place. Eventually the love of the land and lifestyle led us to being self employed so we wouldn't be tied to anything with kids which is where we are now.

Anyway, at your stage in life you probably won't use it as much as you want if you don't live there. Life is busy. When life changes you can sell and get more. Life is always going to change and one thing I try to do is not worry about planning and waiting around for the future or retirement. Do it now. Make it happen. You might not live to retirement. Any number of things can happen. Do what makes you happy now and chase the dream now (within reason).

Excellent advice. Thank you, all.

My wife's parents moved to Wise county a few years ago and have 2 acres. My wife's two sisters either live close to them now or want to move close to them eventually.

I resonate with the hunt being more fun than actually buying something and it's become my daily daydream. Funny enough I think it makes me work harder/put up with more nonsense at work because my eyes are set on that ranch with my kids visiting with their kids one day etc. I know it sounds cheesy, but it's true. The crazier this world seems to get, the more I seek that quiet time and slower life.

Having land near (within 20-30 min) my in-laws would be nice but I'm not in a massive rush to do that now. I also understand that money made and saved today could help later on.

The sage wisdom says invest in something that will cash flow. I want it all and realize I can't have it all at once.

I don't know of many investments that you can use, pay very little taxes on and benefit from appreciation quite like land.

The Ag exemption on property taxes is fantastic for parking money in a relative safe investment and the best part is you can recreate on it while it's appreciating....or lease it to ranchers/hunters.

The cheapest time to buy land was yesterday but the next best time to buy land is today.

Crazy how similar our situations appear to be.

I have a good friend in Coal County, OK who runs a ranch. There is a 100 acre parcel connected to his that the owner is willing to sell, likely at a screaming deal.

My wife scrunches her nose when I say "Oklahoma", but it's beautiful land and I'd let my friend use it until I decided to build on it. It's an hour and 45 mins north.

Pros: Someone would always be watching/using the land, Close to my friend, much cheaper than TX land

Cons: Not near family, so it's difficult to imagine retiring or living there full time, not sure how easy it would be to sell in the event I needed to.

If I'm going to put so much cash into an investment, I want to get some recreation out of it. Whether that's building a container lodge/cabin, etc. for the kids to camp and explore, or hunting pigs for fun...

Just having a place to escape to sounds so amazing to me. The Collin County hustle is something I'm thankful for, but it's becoming too crowded. Especially with our SE Asian friends moving into our neighborhood everyday. Just feels like a lot of change happening. I want that place I can breathe fresh air and drink coffee and be still.

Here is my biggest piece of advice buying both land (ranch properties) and rental properties. "Don't wait to buy land, buy land and wait". I have always done well on all my land plays and continue to buy now.

NWE said:

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https://www.zillow.com/homedetails/7122-County-Road-3677-Allen-OK-74825/448100123_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare



Like this. Look how perfect this property is for what I'm describing. The ONLY bad thing happens to be the biggest thing: location.

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If this is the dream, then you have to find ways to make everything else work around it. Everything. For instance, you mentioned location being bad. Why? If it's because your job isn't there, then find a job that is. Find every objection you have and find a solution for it.

A couple of thoughts:
Know your Why!!! Why do I want to buy land. Is it strong enough to over come obstacles along the way.

I bought 57 acres about 5 years ago. Initially was looking for 10 acres just for weekend recreation. Then I met a realtor and she rolled her eyes and said: Joe, everyone is looking for 10 acres, smart investors will buy 50-100 subdivide and get their portion for free. Made a lot of sense!!

I was buying more to share with my 40 yr son but for me it had to be a GREAT investment, not necessary cash flow but either good potential for appreciation or undervalued.

What I discovered is that land is not priced objectively, it is more subjective. Meaning if you study an area enough you can recognize inefficiency in pricing. We found 57 acres priced at 9.1k an acre when I thought the market was at 15k an acre. You can find the same if you become an expert in one locale.

Things to look for:
Ag or Wildlife exempt
Ease of access to the property
Fenced in property
Water and electricity on property
Within two hours from you main abode
Cabin or Mobile home on site.....you will use the property 100 fold more
Characteristics that enhance the property....we like trees and wildlife for hunting.

Close enough to a population center to attract buyers when you want to sell.
Property on a paved road that has frontage is easier to subdivide.

Lastly, this can be a stepping stone to more or better property. Buy it, improve it, sell it and move up.
I thought 57 acres was a lot, but now I want 100 acres. I could easily sell my 57 and convert it to 100 no extra cost but may have to give up location a bit.

Good luck. Buy Right!

I would avoid the purchase with a friend. You're on the right track with your original thoughts. You won't cash flow with a note but just think of it as putting money in a save spot that will appreciate while you get to enjoy the investment.

I bought a ranch almost a year ago. I've been looking seriously since 2020, but had been a dream for at least 30 years. Looked at many places, but didn't pull the trigger. We had fortuitous timing of me upping the budget at the same time the price dropped over 30% on the place I ended up buying. We had set some criteria ( live water, good wildlife, Indian artifacts, etc). I was looking within 4 hours of home (I have 3 day weekends and soon to go to four).
This place checked all the boxes and then some. It has been a lot of work, and the projects are endless. I was showing a close friend the place and said I would be fly fishing in that section of the creek. He stopped the truck and said 'no, you have way too many projects to be fishing.' While he is right to some degree, it is important to do the fun things that led to you wanting to do this in the first place. So I make a point to make sure I do some fun things every time I go. I've been able to go at least twice a month, (Aggie football has made that trickier) and I also enjoy the work parts of it too. I have close friends within an hour that can come visit on short notice. Once we get some of the projects like remodeling the old house done, I suspect we'll have more visitors.
I don't have many regrets other than not doing it sooner when prices were lower. We look forward to creating a lot of fun memories with family and friends at the ranch. Getting away from the big city craziness gets more and more attractive every day.

Tell us more about your place!