I’ve been sitting on prime waterfront property in a very popular tourist destination for years. It’s just dirt and rocks. I get asked to sell it 10x a year. I always said no because I was going to build on it and I’m fine with where I am. Now, with the housing insanity there are no homes available here. My presumption has been it will be worth more in the future but how much more? Will rising interest rates cool the market, if so, when. I don’t need the money but I know I’ll make a nice profit now.
If you plan to use the property then keep it. If not, sell and reinvest.
You answered your own question.
If you don’t need the money then don’t sell…
They ain’t making more land. So i’d lean heavily towards keeping.
However, you can’t take anything with you when you ultimately die from auto erotic asphyxiation. If there is a need to provide for others after you’re gone, keep it. If not, get the loot now and spend it on hookers and blow.
I was going to keep it but I don’t think I could build any cheaper in five years so I think I’m going to try and sell at the hottest time and buy a boat, hoes and blow, then auto erotic asphyxiate as the Pundit suggested.
What state are you in? PA? OH? West Virginia?
I’d do everything in my power to build and retire there provided I like the town
You don’t really sound like that’s your idea at all, I’d sell and reinvest if you never plan to use it
Market is crazy high right now
Well I would have said hang on to it since it’s only going to go up in value but after seeing your plan I’m leaning towards sell… just for the forum posts leading up to the asphyxiation part!
Great SN by the way.
What I wouldn’t do is ask a bunch of KKM morans for advice.
If they knew anything about adulting they wouldn’t be playing internet all day
They are not making any more land…just sayin…
If you sell it, what are you going to do with the cash?
I’m not a money-ologist but I think we are going through a pretty significant period of inflation right now. If I were you, I wouldn’t want to hold cash. I would want my $$$ in a real asset.
I had some magnificent wooded, rural property that I sold last year. Made almost 2x what I paid for it. I have regretted selling it every day since.
not sure if this has been pointed out to you, they aren’t making more land!!!
they arent making more land… especially waterfront.
you can prob sell and make more than any other time in history… and yes that may include some time in the next 2-3 years as well.
but in the long term your property will be worth more… much much more
so why sell unless you want to spend the extra cash now
or need to have the extra cash now
i can play on the interwebz all day because i do know some things
Mind Blown GIF
Sell it but then squat on it and refuse to leave!
You’re in California right?
i like your thinking
the only concern I have is… any period of high inflation has traditionally been countered with high interest rates.
for some reason our govt feels 20 somethings should own their own homes
the should have the “right” to own their own homes, but fuck the gov artificially cooling the houising market to cater to 20somethings
they can scrimp and save and do without to save for a downpayment the same as me
dont fuck with my assets or potential ROI