- 2 years ago
- Wedding: October 2013
My husband and I are renters in a major Canadian city, married almost a year and intending to start TTC in the next couple months. We recently moved into a spacious, clean and new 2-bedroom apartment where we intend to stay for at least 2-3 years. We have $40,000+ sitting in the bank but since that won’t cover the down payment on a 1-bedroom condo in our city (where 1-bedroom condos and fixer-upper houses begin at $350,000), we intend to buy once we move closer to my family, again, in about 2-3 years.
We recently visited his family at their family cottage, about 2 hours outside of the city. It’s in a quiet, rural area with lots of other cottages. Now my husband is sending me links to land plots in the 1-5 acre range ($40,000-$80,000). I think his idea is that if you find a spacious plot that’s not too far away from expanding cities, it would make a good cottage or ultimately re-sell for greater value.
So, have you ever bought land for this purpose? Would you? If not, why?