North Idaho (Sandpoint, CDA, Bonner's Ferry) Land Prices

[William Lunsford]

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?

Thanks for any help you are willing to provide.

William

[Mike Hanneman]

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.