Should I buy land?

[RogerIn]

I'm considering purchasing a plot of land in a nearby town in Colorado for $40,000, with the goal of building a home. I currently rent a small apartment there for $100 a month. Do you think buying land in this area is a sound financial decision?

[Kaile]

Purchasing land always offers potential growth for significant returns, especially in developing areas. But before investing, carefully examine zoning ordinances, property tax rates, utility connections, and anticipated value increases.

Analyze the long-term financial comparison of building versus renting to ensure alignment with your financial objectives.