Cheap Land to Buy
It is getting more and more difficult today to find cheap land to buy. There are countless listings on the Internet advertising one-acre lots in old, antiquated subdivisions for “only” $4,995, but this price equates to $5,000 per acre and is certainly not cheap land to buy. A person has found cheap land to buy when the per-acre price is under $500.
For instance 160 acres for $31,840 is a much higher total price than $4,995 but the one-acre lot is priced at $5,000 per acre while the 160-acre tract is only $199 per acre. So in reality, to the seasoned land investor, the 160-acre tract is much cheaper than the one-acre lot.
Knowledgeable investors will always concentrate on per-acre prices as opposed to per-parcel prices of land. Since the Pilgrims landed and people began migrating west, astute land dealers have made substantial sums of money buying large tracts of land by the per-acre price and selling smaller lots by the per-parcel price.
The best place to find cheap land to buy is in the larger Western states: Wyoming, South Dakota, Texas, New Mexico and Nevada. These states contain the largest supply of land in the nation that is priced under $500 per acre, but that supply is drying up at an alarming rate. The massive number of new dollars the federal government plans on spending will surely create substantial inflation during the next five to 10 years. In the near future, it will probably become almost impossible to find land anywhere in the United States for under $1,000 per acre.
The amazing thing about cheap land is that it doesn’t even have to be used in order to increase in value. All that is required for cheap land to increase in price is inflation and more people, both of which are inevitable. It will take more and more paper money in the future to buy the same finite supply of land that exists today. In addition, the population of the United States, currently 307 million, is projected to increase to over 400 million by the year 2050. So while there will be another 100 million people in the next 40 years, there won’t be one new acre of land created!
Finding cheap land to buy -- and following through on a purchase -- can provide one of the safest assets to own in future years. A large tract of cheap land in the country can’t be stolen, can’t be destroyed, can’t be outdated by technology, can’t be reproduced, and always remains!
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