Build or wait it out?

[Wyatt Anderson]

I posted a few months back about buying a dream house instead of investing. We were going to get it on a deal with my mother in law. 70 acres with the house sitting on a bluff. Easily could sell for over a million for the area. We were going to pay $400,000 for it. There was no sly stuff, we weren’t being sneaky. We told her it could sell for over that and she should get a professional opinion about how much it is worth.

Since then she has gotten a new boyfriend and apparently had a change of heart.

I know boohoo. Not what the post is about. Just an update.

The point of this is she wants us close by which is fine because I love the area. But the thing is, I want the land. Not necessarily the house. The mother in law wants to gift us land to build on. My wife of course wants to start yesterday. My gut is just saying wait it out and try to buy again in 5 years and hopefully having a bigger budget paying her more. Building this house kind of ruins it for me (the land) and it isn’t necessarily what I want. If I could pay over a million by the age 25 then believe me. I would.

Land is my dream. Lost of land, not necessarily investing in real estate.

Just looking for opinions. Fee free to scroll on by