Right now we are more thinking of buying land and a small place to live, on large property in a thriving area...one close to where we are now, but in a resort type area where my sister in law bought land for $3670 six years ago and just sold it for over three times the amount. The area we currently live in has no real estate appreciation, but this lovely area is just the opposite and just built a classic golf course which is driving up home and land prices. It is very elite, I hear..??
There is a beautiful, clean lake for fishing and boating and swimming, lots of golf (we dont golf), tons of forest, ATV trails, wildlife, and lots of summer cottages and many come up from other states for the summer.
We saw gorgeous property today with a park home, place for an RV, two decks...it is right by the lake, not too close to neighbors for about $50k. Very good price.
We are probably going to buy here. It is very quiet, smells great, and is a rather countryish atmosphere. We are going to keep looking around!! We may rent it put when we travel...to one family. May not.
KT has a point about the possible liability issue. That being said, if you do it correctly then it can be a very worthwhile investment that not only allows you to enjoy it but to profit from it a bit as well.
Land is the one thing they aren't making any more of. It's usually a good investment. As everyone else points out, there has to be some serious liability insurance. You'd want to check on the cost of that, and whether there are any restrictions on the land that would stop you from being able to do what you want to do. It may not be as simple as zoning. For instance, Jabber's hunting land is outside the boundaries of any town and has no zoning. But there is a restriction written into the deeds that any houses must be so many feet from the road and so big and no livestock, no mobile homes, etc. We've gotten around that by putting in a "non-permanent" structure - a shed with no foundation. Very important to check those things.
Thanks Lil. I dot thi k we will have others on our property after talking about it with hubby. The land will be the ivestme t. Due to tbe co fusig and various ordinances involed in our area of choi e we spoke to realtor wbo is going to look around and che k details for us. We are buying the RV first, the land probaly next year.
SWOT - You have inspired Jabber and me. Though we're more than 10 years from retirement, we're seriously considering buying a camper or RV and becoming snowbirds when the time comes. He wants us to have a "home base"; possibly our existing cabin fixed up into a small home, so we can have a permanent address. We've gone so far as to look at a number of campers (we're leaning to them over an RV) to see what we want for sure. For instance, two "must-haves" are a bed we can both get out of without having to crawl over each other, and a bathroom that is big enough to actually use! (We've found plenty that Jabber's shoulders won't fit in the shower!) We don't actually need a large RV - we like each other enough to stand close quarters.