I spent two years convinced I wanted 40 acres in Nevada. Cheap land, wide open, no neighbors. Made total sense on paper. Then I started talking to folks who actually bought out there and learned a hard lesson I wish someone had slapped me with earlier: deeded water rights and reliable water sources matter more than raw acreage, full stop.
I watched a guy I met outside Winnemucca buy 80 acres for practically nothing, then spend four times the purchase price drilling a dry well and hauling water just to keep a small garden alive. Meanwhile a neighbor with 12 acres and a senior water right was sitting pretty.
In the Mountain West especially, that conventional wisdom about 'more land equals more value' falls apart fast once summer hits. Arid country will humble you.
Before you chase those cheap per-acre prices, I'd strongly argue: research the water situation first, even before you set foot on the property.
Anybody else out here buy land and get blindsided by the water situation after the fact?