Investment-wise, why is buying land less popular than buying property?
I’ve always wondered this question. Land seems to require much less maintenance than property. Wouldn’t it be wise to purchase some while you’re young, and hope that the value goes up over time. In 1-2 decades, you either get yourself a plot to build your retirement home, or sell it at a margin. People do this all the time for properties, but it seems not so much the case for lands.
Is there a catch in owning and maintaining a plot of land?
———————————————————————————
Edit: I probably should’ve added some context. So, in short, I have no plans in acquiring a property anytime soon due to geographical uncertainty and my unwillingness to take out a loan (I like to keep my cash outflow at a minimum).
However, I have to admit I’m concerned with property/land prices going up. I can’t afford to outright buy a house but can probably purchase a small plot of land in full cash.
Would it be a good idea to buy some land just to ‘lock’ the biggest cost of home ownership once and for all? Of course I still need money to fund the building costs later but I’m not convinced that those will rise faster than my invested portfolio. Basically the plan is just to guarantee (or at least, maximise the chances) that I’ll have a roof under my head even if all hell breaks loose one day.