You are getting a lot of comments telling you to buy land and also a lot of comments saying that they wish they would have bought land when they where in their 20's. I did buy land when I was in my 20's (1984) and it was not a good deal. Land prices did fall and they can fall again. We have seen land prices soften for the last few years and I personally think that will continue for a few more years. I would be careful borrowing a lot of money to buy land. If you pay down on your current debt you will have more equity and you can always borrow against that equity later if a real good deal comes around. If you don't have to borrow money to buy land and you feel that you will keep the land for the long run then I would look at it differently.