Buying land tips and advice, free e-book for Windows. If you are looking to purchase a piece of land for your own residential use, you need to read this report. Experienced developers understand that there is more involved with a land purchase than the simple financing of that land. Exactly how much land do you want to purchase? One half acre to one and one half acres is considered normal residential size while three to five acres is considered estate size. Five acres or more is usually reserved for family farms and private agribusiness. If the land you are interested in is what might be considered a high growth area, you should consider buying several acres at once and then selling them as individual parcels.