I bought a little over 50 acres back about 1990. I paid around $ 540 per acre.It was part of a family estate that had not been settled since the 1950s.I had to buy out all of the heirs. A lot of the land is in 100 year flood plain and very little is worth farming at all so that was probably a pretty fair price at the time.At the most, it may have been worth $ 1000 per acre.
Now, the bank tells me it is worth $4000-5000 per acre.I would not sell it for that but I sure would not pay that for it either !
I think $ 2000-2500 is probably fair.
This land has been in my Mother"s family since the late 1700s so it has a great deal of meaning to me.
Anyway, my wife and I built a nice house here last year.The difference between us and the normal people that move to the country is that my wife is from the country and I spent a lot of time in the country when I was growing up.I have played on and hunted this land my whole life and my wife and son fell in love with it also.We are about 1/4 mile off the road and have lots of privacy.
I have known our neighbors for my whole life and they are super folks and they would do anything for any of us.When we moved here, we made sure that we respected our neighbors.
Now on the other hand, I know some folks who bought some land in another part of the county and were tickled to pay $ 7000 per acre !
They built a couple of huge houses and like to talk about how they have 27 acres so they have more clout than anyone around them.
I have 50 acres and feel very fortunate. I just happened to luck into the whole thing.I am really a small player around here.Most of my neighbors have a lot more land than I do.No one around here make a big deal of it. We all respect each other.
Its the people who move out here and try to take over that are ruining things for the rest of us.
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