I've been a pretty big investor in the stock market the past few years and want to eventually break into some other things in the future once I develop some more equity, but one thing I haven't considered is investing in land. I got a text from an old friend the other day about roughly 25-30 acres of land that is currently available for sale close to his house for about $60k. It is roughly a 2 hour drive from DC.
Land is obviously something that we aren't exactly making more of and with the housing shortage the nation is currently facing, I'm wondering how long it would take before major housing developments finally reach this rural area. The land has nothing but a gravel road going through it according to the limited pictures I have of it.
Here is the description on the listing:
"Build a home on this property and walk into the 26+ acres for your private hunting ground where wildlife abounds. Property fronts on a State maintained road. Property at road is fairly level, slopes from road, and wooded. Zoned conservation and may be divided once with zoning approval. Nice pines on property."
Before I reach out to the realtor to make an inquiry, anything that comes up top of mind that I should ask them? I want to know exactly what percent of it must remain a conservation. If only one home can be built on a lot of this size, then I most likely will not be purchasing this land. I also want to know if gas/electric lines are available close to the property. I've never had to run them for any of my prior homes and can't imagine how much something like that would even cost.
Would love to hear some opinions from folks who have experience/insight as it relates to this subject.
Land is obviously something that we aren't exactly making more of and with the housing shortage the nation is currently facing, I'm wondering how long it would take before major housing developments finally reach this rural area. The land has nothing but a gravel road going through it according to the limited pictures I have of it.
Here is the description on the listing:
"Build a home on this property and walk into the 26+ acres for your private hunting ground where wildlife abounds. Property fronts on a State maintained road. Property at road is fairly level, slopes from road, and wooded. Zoned conservation and may be divided once with zoning approval. Nice pines on property."
Before I reach out to the realtor to make an inquiry, anything that comes up top of mind that I should ask them? I want to know exactly what percent of it must remain a conservation. If only one home can be built on a lot of this size, then I most likely will not be purchasing this land. I also want to know if gas/electric lines are available close to the property. I've never had to run them for any of my prior homes and can't imagine how much something like that would even cost.
Would love to hear some opinions from folks who have experience/insight as it relates to this subject.