You likely have an idea in mind about why you want to purchase land, but you may be uncertain when it comes to deciding how much land to buy. You’re not alone with this uncertainty; imagining the true scale of a five-acre lot compared to a 500-acre lot, for example, is difficult. Ask yourself these questions to conceptualize how much land you need.
What is my budget?
The first driving factor in deciding how much land to buy should be exactly how much money you have to spend. Most people looking to buy land have some sort of budget in mind, but accept the fact that your budget should be flexible, as getting what you truly want could cost more; however, it may be worth the investment in the long run.
Do I want to live here permanently?
If you’re looking for a plot of rural land on which to build a year-round home, whether for you and your family or for your retirement, you may not need—or want—much more than a few acres. Of course, this question comes with many other questions, like whether or not you also want to hunt on this property or how much privacy you’re looking for.
If you answered, “yes,” to this question, you’ll probably start looking for land close to a maintained road with access to all the year-round utilities you’d expect in a primary home. Once you start finding these lots, you’ll also notice that they tend to be smaller. Though five to 10 acres may not sound like a lot, visit the lot you’ve been eyeing, then walk its perimeter. You’ll realize just how big a couple acres are. Especially if you are planning to spend your retirement here, you need to think about how much land you will feasibly be able to maintain in your older age—unless for various personal or practical reasons, you simply want more land.
Or do I want a seasonal or vacation home?
If you’re not looking for land to house a primary home, then your options open up a little bit in terms of location. Why put your recreational home near the main road, with all the traffic and close-by neighbors that accompany it? Yes, you’ll get the convenience of utilities, but you can get the same utilities when buying significantly more acreage where you’ll have peace and quiet to relax.
What do I want to use the land for?
Some buyers in the market for land are simply looking for an investment, while others are in it for the recreational aspect—hunting, fishing, horseback riding, etc. Still others may be seeking land for livestock or agricultural work. For some buyers a 40-acre tract of land is enough for recreation. But the more you go up in acreage, the more privacy, topographical variety and timber you’ll have. If your budget allows, then 200 acres could provide for a better hunting experience than 50 acres, for example, and so on.
When it comes to knowing how much land to buy, your needs and desires come first. If you’re still a bit uncertain—or have other real estate needs in the West Alabama area—contact our office at 334-289-3470 or call Bill Mackey at 307-690-6879! Also, visit us at www.billmackey.com. For more land buying advice, follow the Bill Mackey Real Estate blog!
