So, I bought this land of 0.62 acres near a lake this summer.
If you don’t know, on my previous journal notes I wrote about the stage where I was in doubt of buying this (click here to read) because it was way over our budget. At this point I don’t regret the decision we took.
Why I don’t regret it ?
Well, I still think it’s the best spot for our dream lake house, it’s enough space for everything and got it at a cheap price (like $25k). If you read the article from above you’ll see that, in there, I’m saying it’s expensive and we can’t afford it. But now, it was a cheap investment.
Yesterday, in my spare time, I start looking through the selling ads to see who else sales land near my area. Guess what, I found one guy that sells his land for like $30 / 107 square feet. And I was like: WHAT ? (I got my land for $10 / 107 square feet).
The price went so high because everybody start building there.
So based on my “neighbor” price, I can sell my land for like $75k and even more. Why more? Because he doesn’t have access to the lake and I can increase the price a bit for this “feature”.
I’ve invested $25k like 4-5 months ago and now the land it’s worth $75k, that’s a profit of $50k.
For the moment, I paused a bit and I really got in mind if I should sell it. But NO, I don’t care about the money, I love that place.