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That is true Mr. Wabigoon and the realtors always tell me that,,, and then I tell them ," Ain't no one taken it with them neither".. They get a little quiet then.

Well, we are about as happy as we make our minds to be.

Location, location and location !

Good answer to that old, classic realtor claim.

DF

I started buying farmland in Saskatchewan in the mid 2000s. The first two quarters cost me $250 an acre at a slightly reduced family price but most was cheaper, and some with good building/recreation potential/location quite a bit more. Judging by neighboring sales that dirt is going for $3500-5000 an acre for cultivated acres. In the meantime I've long ago recouped my modest initial investment through cash rents.

I almost bought 80 acres near Bear Lake 6 years ago for $2000 an acre but the timing was wrong with a new house, health issues, and job change. I knew it was a deal and wish I'd have just done it. Now that same land could not be bought fir 10 times that amount.

Sometimes good deals come up and you usually know it when your getting one. Lately it's been harder to find a deal. I bought 4 rental houses from 2012-2016 that were all good deals. Then I made the mistake of selling a few too early. I made modest gains but nothing like I could have if I'd have waited.

Bb

Wish I'd bought that main street lot in Telluride, CO in the hippie town 1980s for $50,000, or the bankrupt condo development for $2 Million during the oil bust a few years later. Oh well, at least I'm happy.

Late in the housing crash... I had just paid my house. A 20 acer parcel went up for sale just down the street from my house... A bank had it...

I put a fair offer in at $2525/acer. Money borrowed to buy land was a higher rate than a home mortgage. So I re-mortgage my house for $51k and bought it.... 20 acers of open farm land with only a few trees on the fence lines... and one row of trees 10 feet deep along one side.

I planted fruit trees in the fence line, asparagus in other fence lines, cut down some trees out of the fence line and heat my house with the wood and a whole bunch of deer in the years that corn is going on it...

Property taxes are $260/year and I rent it out to a guy every year for $600.00

Three friends of mine, with my permission, have shot their first deer ever... off that stupid, flat, treeless 20 acer field... just crazy.

Last fall, a 20 acer piece 2 miles from me sold for 200k in 5 days for the asking price.

I tell family and freinds.... that 20 acers is going to pay for my retirement home cost....

I bought this place where we built our house 20 years ago for 3k an acre. Today, land around me is selling for 30k+ an acre. I can’t imagine it will jump 10x in the next 20 years, but who the hell knows?

I bought the 80 my house sits on for a little over $2400 an acre in 2007.

New neighbor just bought 22 acres across from me for closet to $195K.

Taxes on the agricultural portion of my land haven't increased that much, but but the house, barn, and ground the house sits on cost me just shy of $8K in property taxes annually. I'd really like to find a decent hunting property, but the cost per acre now is phenomenal and the interest rates on undeveloped land are unreal now. Back when we bought our spread it was 8%, when home mortgages were around 4%.

I came of age in the early ‘80’s, and rural land, neither farm land or recreational properties, were a good investment.

Ever since, interest rates have been dropping and land prices have been jumping. I see land as an interest rate play. If rates stay higher, or, dare I say, go even higher, the demand for land will dry up and prices will stagnate for a long time.

If rates drop back significantly (which I seriously doubt) prices will continue to appreciate. Just look in your crystal ball.