u/extra-anxiety

Advice or warnings? We are low income and not able to borrow the amount we would need to buy land and build a home. Same with an existing house.

But I have saved a decent chunk of money and I may be able to purchase a plot of land- is this a stupid idea to buy land and sit on it until we can afford to build ?

I understand costs are expected such as rates and we would need to ensure the land could stay as is indefinitely with no time constraints to build.

We were so close to building a home a few years ago until borrowing terms changed and we were unable to afford it, then every plot of land in our area went up $50k - $80k + and was sold off. I guess the fear of missing out again is getting to me.