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IMO I wouldn't think it would be a great investment unless you think there is something special happening in that area in the coming years. But if you are trying to do something nice to help out your niece that of course is a different matter if you can afford it. Would anyone else buy it from her?
I think of land without a house on it the same as buying a house. The value mostly fluctuates with 3 things, inflation, supply and demand, and improvements made. It will generally keep up with inflation, so that part is a sound protection of money but not an increase in value.You can make imporvements on the land (in this case something like building a house, sidewalk, getting it on the grid if not, etc.) which will sometimes incease the land more than what you put into the improvement, sopmetimes not. After that it mostly is speculation that comes down to a supply/demand issue. If something really builds up in the area in the next 10 -20 years it may go up. Of course if there is a decline in the area, then it will go the other way. So do some homework into what may make the area go up in value.
The other issue is that you are tying up money that could be invested elsewhere. So if you figure to get 7% in the market, then the land has to go up that much per year just to compete. I would think most likely it won't.
Also you can't take any depreciation on your taxes for land like you can with a rental home. Any chance building a house and finding a renter is a realistic option.?Anyone living in the area at this time?
Sounds like it might work ,but do alot of research first, of course