Leela, the standard ecologist's and designer's
answer applies: it depends. I suggest you make a list of all the factors you can think of that it might depend on, and then assess yourselves for each of those factors. Money and time are ones you have mentioned already . . . both biggies. What is the additional cost of cleared land compared to wooded? What is the cost of clearing? How do those two strategies compare in total cost? Are the
wood yields valuable in some way in building your home or gardens? Probably. That has a value too. Would you clear yourselves or have to hire people to do it for you?
If I had my druthers in your situation, I'd probably try for some of each and split the difference, get the advantages and disadvantages of both. More habitat diversity at the outset is probably a good thing.
Keep design for catastrophe in mind down there. Fire is probably going to become more and more of a design issue in that region, among others. Read Holmgren's The Flywire House for good design ideas. Read Mollison's autobiography for the tale of the Hobart fire in 1967--a harrowing account worth reading so you know what it takes to deal with such events. Make sure you assess any property you look at with that and other kinds of catastrophe in mind so you don't buy into a hard-to-amend situation. Pine forests are probably not great as far as fire safety goes, and can also be pretty bad in hurricanes depending on the species and health of the
trees!
For forest
gardening, pine forest are also hard to deal with. Not many species do well with pine overstory. But, as I said, if the stand is in good shape, you can get some decent building material out of the trees. Mixed woods are better, but still can be difficult to do much with--still a lot of shade that will limit what you can grow under it. But they are fun to play with and experiment with. You'll be able to make the kind of forest garden you want with cleared land; but cleared land is often poor in soil quality, especially in warmer climates. I am not a fan of clearing forest to start a forest garden--we've done so much damage to existing forests already! So those are some of my considerations. Again, I'd say amix of open and wooded land is probably the best option.
Good luck and keep on truckin.
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