Parents here would always tell us that the best investment is land - a lot or even a farm. For the simple reason that land retains its original value and albeit it increases in value as time goes by. When I was younger, subdivisions and villages would be conducting an open house to sell their lots. But now what they sell are housing already - a lot they will build your house on. There are only few subdivision developers that sell only lots that's why if you are going to invest in a lot, you have to find an owner, an individual who is selling his lot.
It's quite hard to get deals on lots, unless you know the market really well. I wouldn't buy from a developer, truth be told, because I know most of these business are built on the idea of cutting the costs as much as possible and increasing the profits as much as possible. This often means cheaper materials, therefore a lower quality. Yes, maybe the best idea is to find individuals. However, keep in mind that most of them have already been offered good amounts of money for their lot and probably refused. Most of them are expecting bigger offers.
In the classified ads here, there are many lots for sale which are mostly owned by individuals. Those who can afford to buy are people with cash since most of the lot owners needed cash and wouldn't enter into an installment scheme. One of our neighbors have bought 2 lots already from their retirement pay 5 years ago. Those 2 lots are just lying around but the plan of our neighbor is to give each lot to their 2 older children, and the youngest to inherit their present home.
