Buying an island for wizards would be an interesting feat to accomplish. It would demand very specific requirements in order to be a "wizard paradise".
1) Population. Considering that an average of 1,200 unique individuals browse wizardchan regularly, we would need to consider calorie intake and living space. Single room occupancy (SRO) legal guidelines say one individual is mandated 110sqft of floor space; this means, to "legally" (comfortably) house all of our wizards, we'd need a bit over 3 acres of land (provided we don't make it multi-level housing), not including the amount of space walls would take. Imagine one city block in Houston, Texas; that would be the total space required to house everyone on one floor.
2) Food. We want to isolate ourselves from the evils of the world. This means we'd need to produce our own food. Forcing people to garden and work daily would mean everyone is burning an average of 4750 calories PER PERSON DAILY. Seems like a lot, doesn't it? Even if the fatties decided to cut their intake by 500, it's still a large amount, with a total of 5,700,000 calories needing to be produced by our society daily just to meet that amount. Businesses say that "about one acre" is enough land to feed a person, but "about one acre" produces "about 2700 calories" daily. This means that each individual actually requires "about one and three-fourth acres" to sustain themselves daily; for 1200 people, 2,110 acres total.
(So far, we've needed 2,115 acres of land, rounding up.)
3) Power. We need electricity to supply all our NEETneeds. I'll be honest, I'm all for renewable energy on our private island – the less burnable fuel needed to be imported, the better. Hydroelectricty and solar energy are probably out of the question, as we'd lack the tools to support and construct dams, and living in an area where we can get massive bonuses from solar energy is not conducive to the sweaty wizard. Wind, biomass, and even osmosis power sources seem far more valuable. Finland's 125MW biomass station is about 450 acres of land; Indonesia's 227MW geothermal station is about 60 acres; Spain's 0.3MW wave farm is about 92 acres; and the US' 662.5MW onshore wind farm is about 4 acres (I shit you not). If we could harness the preferred wind energy on just 4 acres of land, we'd hit a goldmine of power.
(So far, we've needed 2120 acres of land, rounded up.)
4) Cost. How much does this Wizard Paradise cost? I Post too long. Click here to view the full text.