Do you think buying your first landed property in a bushy area is a good investment for the future.
Based on my personal experience, I will not suggest or advise anyone to venture into acquiring the first landed property in a bushy or underdeveloped area irrespective of the fact that land does not depreciate rather it appreciates as long as times and years keep running and the area that the land is located is hoping for development in the future. I will advise the Op not to invest in a landed property in a bushy area because as your first investment, you don't need something that will take so many years before development will get to your side of the investment rather I will advise you go for developing areas to invest because you will make double gain of your investment capital within a short time.
Not really, Firstly, the land will not depreciate over time, secondly, the population density is increasing, the land in the central area is increasingly difficult to buy and expensive. Buying land in a bushy, undeveloped areas will take quite a while to develop but not without potential in the future. Investing in real estate, you can't expect quick returns like cryptocurrencies, this takes a very long process to do.
Real estate as well as other financial investments, prices are still inflated, so you have to be very careful or you will be buried for a long time.
Responding to what op asked, I can not invest in a bushy area otherwise known as an underdeveloped area with my first investment.
Going with your response, land does not depreciate fine but the amount of funds available to me will determine if am to invest in such areas because having a landed property in a developed area may be expensive but you will definitely get double of your investment capital because people will always want to buy lands in a developed city where companies and industries are located rather than investing in an under the developed area that may take several years before developing. Crypto investment can not be compared to land investments because even crypto is not quick money-giving scheme.
Of course, land in a bushy area, and undeveloped areas will not be as profitable as developed areas, if you have a lot of money it's not a problem. Once you have determined investing in real estate, you can't expect a quick return, I said it must be calculated in years, sometimes up to 10 years. So I don't agree with you that buying land in a bushy area is called risky, there are underdeveloped areas that get little attention but have a lot of potential in the next year or month.
In the area where I live, many real estate investors are looking to the periphery, which has not been developed much, they think that it has not been exploited much, so the potential in the future is great. Unlike areas that have developed, costs are high and have become crowded, and difficult to expand. The demand for land is increasing day by day and in the developed area, once it cannot compete, the periphery and the periphery are not developed, cheaper price will be the next choice.
You spoke passionately like a realtor @minairia3. While it is true that buying land in an undeveloped area is a future investment sort, most times these undeveloped areas may disappear depending on how the topography of the place. For example, a man I knew way back bought a 100' × 100' in a swamp-logged area. No matter how much he tried to fill up the land and erect pillars, the ground sinks. He has to wait for the dry seasons and fill up again. Although the place is fast developing, one simply has to have the patience and means to look after the land, especially when one buys in an uncertain topographical scape. Over time when I visited the place, he had erected a solid concrete structure, and has filled the land more than 5times, that it hardly sinks as before. He spent money and had patience.
In other cases, persons had been scammed during the land purchase of these bushy areas and had no way to reclaim their funds.
It always advisable to DYOR before investing in land especially for a long term benefit.
Furthermore, in developed areas where land prices are on the high, what most persons do is to buy a structure and renovate to taste.
