Monday, February 21, 2005

"Don't Wait to Buy Land..."

The rest of the line is, "Buy Land and Wait!"

Great advice from a great man, Will Rogers.

Other smart investors say, "Don't put your money in the bank, bank land". Banking land can be a valuable investment/retirement strategy-- that is, making purchases of land in areas that will experience future growth and development with an eye towards later sale at a tidy bankable profit.

The White Mountains of Arizona is an attractive area in which to bank land. The area has great natural beauty, an enviable climate, an abundance of 4-season recreation, a great lifestyle and culture, and more important, land is limited. In the White Mountains of Arizona, there is only about 18 to 20 percent total land available for private use. And, raw land and real estate values are climbing. More and more people from all over the world are slowly discovering Arizona's Little Secret, and canny buyers are buying now.

Land banking can be an excellent way to diversify your investments. No matter how long you have to retirement, careful purchases of land can add to your planned retirement income. Try to add one new land purchase every few years. Work with a White Mountains Realtor to help you choose parcels in different areas, but with paths to future growth and development. One, two, three small parcels or more, carefully chosen at the right price, and sit back and wait. Or, consider making a large purchase at a reduced amount per acre for future maximum clout, splits into smaller saleable parcels.

Be patient and use your White Mountains Realtor to help you find the best value at time of purchase. Buy slowly and buy well. A few years before retirement, get your selling plans in order. You may want to sell a parcel each year with a goal to having everything sold in five years; or you may make other plans. You may sell for cash, OR you may want to carry a nice note back, guaranteeing a steady cash flow over years. You're in the driver's seat. No one can guarantee a market; but by watching carefully and working with your White Mountains Realtor, buying and selling land as an addition to your retirement plan can be exciting and rewarding.