Spring, TX · Member since 2016 · 42 posts · 5 votes
Hello Everyone,
I have been researching land in the NID area for the past 2.5 years. I recently traveled there and like so many love the setting...especially in Bonner's. I am looking to purchase land for retirement 15-20yrs from now. I have a few questions:
1. If you had a choice would you buy raw land early in life and pay it off before retirement
2. Does anyone have any history on raw land prices in the NID area? It seems to be averaging $4-$5k/ac right now...and seems to be a seller's market for sure. I am not sure if it's going to drop back down again but it seems really hot right now.
3. Has anyone bought raw land they are holding in NID? Would you do it again or wait till later in life?
Investor · Coeur d'Alene, ID · Member since 2016 · 551 posts · 218 votes
9y
Me personally,I would not buy raw land for retirement unless I was getting close to retirement. So many things can change and raw land is not the easiest thing to sell should you have to. If you have the money to buy now, you should look into having that money "working" for you. I would buy something that would have a higher return, either a rental or someother investment.
Bonner's isn't an area where the land prices are going to shoot up in value anytime soon, yes we are experiencing a buyers market here, but am curious to see what the higher interest rates are going to do to this market here.
Real Estate Coach · Coeur D Alene, ID · Member since 2013 · 458 posts · 295 votes
9y
Hey William,
I personally like the idea of finding the perfect land and paying it off quickly. It would be great to know you've got your dream parcel locked down.
As a full time investor here, I have made many realtor contacts. I can put you in touch with a great agent that specializes in North Idaho land. If you're interested, let me know.
Investor · Coeur d'Alene, ID · Member since 2016 · 551 posts · 218 votes
9y
Me personally,I would not buy raw land for retirement unless I was getting close to retirement. So many things can change and raw land is not the easiest thing to sell should you have to. If you have the money to buy now, you should look into having that money "working" for you. I would buy something that would have a higher return, either a rental or someother investment.
Bonner's isn't an area where the land prices are going to shoot up in value anytime soon, yes we are experiencing a buyers market here, but am curious to see what the higher interest rates are going to do to this market here.
Spring, TX · Member since 2016 · 42 posts · 5 votes
8y
@Janelle Groenhout I did not. I decided to look out in the Blueridge so that I can have better weather. I am in a FB group for NID though and it allowed me to see a lot of the community aspects of NID. Some good and some bad...lots of small town drama and people having stuff stolen by Meth Heads. The area is still phenomenally beautiful though.
Investor · Williston, ND · Member since 2017 · 180 posts · 36 votes
8y
My husband and I have bare land in Sandpoint which is where we were born and raised... just living in North Dakota right now for the oil industry, plan to move back in a few years and build on the land. Glad you did your research though and feel confident with your decision, can be small town drama but the lake and mountains will always have my heart. @William Lunsford