New to Bigger Pockets and looking for advice

[Eric Kump]

Bigger Pockets members, I would love some advice on this situation!

I have a family member whose house is worth about 221k in an "okay" location.

There is a 1 acre(ish) piece of land in a prime location that is selling for 200k.  (It is just land, there is no house on the property.) They are very interested in finding a way to purchase the land and live on it as it would appreciate over time and be worth much more than their current house. They also love the area and want to live there long term. What could they do to acquire this property? They would be willing to build a "tiny home" for them to live on while they would save up to build a normal house. What do you think their best options would be? Could this be a smart investment or is it foolish to think this could work? (Haha! Thanks in advance for the help.)