How To Buy Land

Discussion in 'Money & Finances' started by Diane Lane, Jul 28, 2016.

  1. Diane Lane

    Diane Lane Veteran Member
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    I know most here have probably owned a home or two in the past, if not currently. However, there's a movement afoot wherein some people want to move out of the cities, and find a piece of land to settle on. I hope to be one of those people in the future. I came across this article, and wanted to share it, in case anyone here had considered doing the same. Buying land can be different from buying a pre-existing home or a home in a master planned community or other subdivision, and there may be things you hadn't considered, so give it a look if 'homesteading', or even buying a plot to put a modular home on, is something you've considered.
     
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  2. K E Gordon

    K E Gordon Veteran Member
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    I have thought of buying land before, but by the time you build on it, most of the time, it ends up being about as expensive as a stick built house. I thought i could save a few bucks by buying land and getting a modular home built on it, but doing the math...I don't think so, Also, you have the added inconvenience of having to find somewhere to stay while the house is being built. I haven't ruled it out completely, but I think I am gonna try the condo route if I can ever get this home sold for the price I want.
     
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  3. Ken Anderson

    Ken Anderson Senior Staff
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    Undeveloped land outside of the city is usually cheap, and can be very cheap; plus, the taxes are generally pretty low until you build something on it. We paid $35,000 for a hundred acres, and the owner financed it without interest.
     
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  4. K E Gordon

    K E Gordon Veteran Member
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    Land is cheap in West Virginia, but the cheapest land isn't perkable. That is a drawback if you want to have some kind of residence. I personally wouldn't move that far from the city...but some people that do,,,can have really nice houses for little money. However, I have come to learn, that a nice house isn't everything..if you are in a community you don't particularly care for.
     
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  5. Corie Henson

    Corie Henson Veteran Member
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    When I retire, our plan is to buy land in the province, maybe the size of 10 hectares or so. Lots in the city is very expensive and a retiree is best to stay away from the crowded city where the traffic is maddening. But the problem with land in the provinces is the peace and order. I have a colleague who bought a farm land in a nearby province, about 3 hours drive from Manila. He had built a small vacation house and had planted the farm with fruit trees and vegetable garden as well. Then one night, there were intruders who took him hostage and stole his pickup. It was a horrifying experience for him. He was lucky to be spared for criminals like that usually kill their victims. My colleague did not return to his farm anymore.
     
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  6. Ken Anderson

    Ken Anderson Senior Staff
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    We don't have that kind of thing in Maine.
     
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  7. Kitty Carmel

    Kitty Carmel Veteran Member
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    That's terrifying Corie, Henson.

    I'm a bit obsessed with the Tiny House movement. Yet I know it would not be realistic for me. The fact is, I would be afraid to be out on land alone. And my fear would be of other people.

    I guess there would be a lot of things to consider regarding land. Water, septic, electricity. I love the concept and idea and if someone is interested, I think they should look into it.

    Scanned the article. A lot to consider.
     
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  8. Krissttina Isobe

    Krissttina Isobe Veteran Member
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    Alas the age for living on acres of land is past for me and besides you need a gent to be married to who is handy with carpentry, electricity and plumbing to be safe in the wilderness. What a horrific thing being kidnapped! We had a shooting in Waipahu on Oahu and in a quiet neighborhood too!
     
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  9. Kitty Carmel

    Kitty Carmel Veteran Member
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    The handyman or woman is very important. I can fix very little. When I owned a house, I actually changed a dead bolt lock. That's probably the most repair thing I have ever done.

    I have an actual block to repairs etc. My mind will say 'you can't do this' and then I'm stuck.

    Again, love the concept but you are right, it's not for all. Though I have thought about it and have wishes that it could have been.
     
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  10. Avigail David

    Avigail David Veteran Member
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    We just bought a property, 4 bedroom 850 m2 in the suburb close to school and work, 40 minutes from our presently owned home, 10 acres. The first few months on deciding was heartbreaking for me to leave and possibly sell this land and home. But about end of July, my husband and I decided to keep our 10 acres and have it rented. I've been so happy ever since. Thanks to our conveyancer, she advised us to rent it out and earn from our fully paid property to help pay for our new home loan. It worked out well. She also said that we can pass it on to our children as an inheritance.

    The best decision we ever made!
     
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  11. K E Gordon

    K E Gordon Veteran Member
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    Yeah, I am not handy, but the boarder I have is, so he comes in very useful at times. I would rent this house and property out, but I need a down payment to be able to buy something. I would not consider renting anywhere, I would think that would be silly, also apartment rents are outrageous. I like to do my own thing, and I might buy a condo but apartment living would cramp my style.
     
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  12. Corie Henson

    Corie Henson Veteran Member
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    It is actually a dilemma when considering to retire in the rural area because the peace and order is not guaranteed. The cops will tell you that it is safer in the city because there are more cops patrolling the roads while in the rural areas there are no patrols. So when a criminal strikes in the rural area, the victim would be somewhat helpless. That is also the primary reason why condo units are selling - residents are assured of ample security with the reception guards and the cctv camera.

    In one of our casual conversation regarding the subject, I agreed to my husband's suggestion that we buy a farm land for leisure but we will be staying in this present home of ours. At least we feel very safe here especially at night.
     
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  13. Ken Anderson

    Ken Anderson Senior Staff
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    Mostly, it's the opposite here, @Corie Henson. The biggest dangers are in the cities, while the rural areas have far less crime.
     
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  14. Diane Lane

    Diane Lane Veteran Member
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    Here in Texas, there are a lot of ranches and also farm houses in the rural areas. For the most part, it seems, people are armed, and well used to taking care of matters on their own. Although there are always deputies within the county, counties here can be pretty huge, so it's best if you plan to live remotely to also plan for defense. As Ken mentioned, the majority of the crime here in the U.S. is in the large cities, but there is also a growing drug problem in some of the more rural areas, where the kids are bored and end up hooked on meth and other drugs. Those who are looking for money to buy drugs will often turn to crime, and that isn't always limited to petty theft. Even though I live in a neighborhood, it takes the police a good while to get her. We have learned to call the constables first, but most here are also armed.
     
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