2

I was bored the other day so I was looking through the real estate listings up in Cottage Country. I noticed a plot of 4 acres of land for sale for $30,000.

I was wondering what one should consider before investing in land they don't intend to live on? What can I expect with regard to taxes at time of purchase, while owning the land, and if I eventually sell it.

For the sake of argument assume I'm not planning on building a house or cottage on the land. It would be only used as an investment and maybe an annual camping trip.

4
  • 1
    Is this actually specific to Ontario? Sep 7, 2010 at 16:55
  • I'm curious about Ontario and I assume the laws would be different depending on the province. Sep 7, 2010 at 17:29
  • I don't mean that it isn't pertinent to the question. Rather, that the question is general enough that it doesn't need to be included in the title. You are correct that it should tagged for Canada and have Ontario noted in the body of the post itself, as there may be specific issues to consider. On a side note, unless you are commenting on my answer/question I won't get a notification without an @george. The full gory details on comment notification can be found here: meta.stackexchange.com/questions/43019/… Sep 7, 2010 at 18:06
  • 1
    From WikiPedia "Cottage country is a common name in Canada for areas that are popular locations for recreational properties such as cottages and summer homes." - For those who, like me, did not catch the reference. Sep 8, 2010 at 3:05

2 Answers 2

2

Make sure that the land does not have a stipulation that you are required to build on it within X years.

1

4 acres for 30K strikes me as low, is the land buildable at all or is it just usable for camping? What is the abutting property? One of the ways to value any property is to find "comps", similar parcels nearby.

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .