Pros and Cons of Acreage or Can One Have too Much?

txdon · Mar 26, 2004

Mundamanu, I also was initially looking for a 20 acre piece of land but ended up buying a 120 acres. Best investment I ever made. Just make sure you check out the Ag tax exemption in your area and do whatever it takes to qualify. In Texas, if the land is already on Ag a exemption you can switch to wildlife exemption and maintain lower taxes. There is nothing like your own private park and trails. You only have to maintain as much area as you want. You never run out of projects. Initially the fence will be your biggest project and if the land has good fences that is a big plus. And when you get really old and need money think reverse mortgage if you plan on living on the land till you die.

mundamanu · Mar 26, 2004

I was a suburban kid that always felt more comfortable--both physically and culturally--on his grandfather's small farm (dairy goats). And after 10 years in the city, my rural-girl wife wants to get back to her roots, which means first of all pastures full of horses. So, that means I like what I'm hearing from everyone! The more land the better is what I've always thought. Even when I was a kid, my grandfather's 25 acres started to seem not so big after being there for a week or two.

( You would also have room for a tbn proving grounds. Hosting the annual tbn convention would be a real honor.)

I'll set aside 50 acres and section it off for the convention. We can dig holes, fell trees, pull stumps, rip, drag, rake, grade, mow, hog, trench, get stuck and unstuck, and argue about color, transmissions, hydraulics, and whatever else anybody can think of. /forums/images/graemlins/grin.gif

[Muhammad -- On a serious note, with 8000+ registered members (a huge number by the way, congratualtions on a fantastic site!) an annual TBN convention is an awesome idea. If only 10% showed up, you'd have 800 people, a nice-sized convention.]

BubbaJr · Mar 26, 2004

So, my question is, can one have too many acres? 

I don't think you can ever have "too much" of anything good. Can't have too much beer, too many antique cars, too many pies, too many girlfriends (if you're single), well you get the idea. /forums/images/graemlins/grin.gif Buy as much as you can, and hold it until you need some money, then sell off a little. I haven't seen land prices drop in a long long time.

Buck · Mar 26, 2004

100 acres near Albany! I am envious. Very nice area. One of the few areas I would prefer living in comparison to where I live now.

With respect to your question, I agree with what others are saying here. Depends on you.

If you do get 100 acres, definitely get a good tractor and don't compromise!

Buck

5030 · Mar 26, 2004

Andy:

I can't go there. My family is entwined with the Federal Gummit. I will say that the benefits outweigh the liabilities.

As far as the neighborhood in Youngstown, All big cities have them. We are talking about rural land here, not slum landlords. Remember, those slum areas were once appreciating neighborhoods that were neglected.

I know that you don't want to live there and neither do I.

AndyM · Mar 27, 2004

I know that you don't want to live there and neither do I. 

My cousin was one of those who bought a $10,000 house.
He would go on and on that he wasn't in debt for the next 30 years like all of us, but after he got robbed a few times, it's now a rental and he's in the suburbs! /forums/images/graemlins/tongue.gif

Anyhoo, I agree that real estate is the best investment one can make. I would even say that you could make money in the inner-city, if you really knew what you were doing.

Poncho · Mar 27, 2004

I agree with Jimbrown.... you will need everybit of that acreage if you plan on riding stables, boarding etc. You will need at least an acre per horse just for size, and then fenced off sections so you can rotate the horses to different pastures. If you can swing it go for the acreage.... you'll never regret it.

fivestring · Mar 29, 2004

"I would even say that you could make money in the inner-city, if you really knew what you were doing." 

Buy it, fix it up, then sell it.

Keep a gun with you as you are fixing it up. /forums/images/graemlins/wink.gif
Do not leave truck unlocked. /forums/images/graemlins/blush.gif
Do not leave tools in the bed of the truck. /forums/images/graemlins/shocked.gif
Do not leave tools at the site when you're not there. /forums/images/graemlins/ooo.gif
Once appliances (and the heat pump/central air) move in, do not leave the house un-occupied or they'll find a way to leave on their own. /forums/images/graemlins/mad.gif
etc......

I'd rather not try to make money in those locations.
I'll leave that to the yuppies. /forums/images/graemlins/grin.gif