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Buying Land

Discussion in 'The Lounge' started by Capman2k, Jun 13, 2004.

  1. Capman2k

    Capman2k 3/4 ton status

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    I want to buy land sometime in the near future, maybe sometime next year... I've been looking on ebay, and I guess some of the prices look reasonable. I don't know a darn thing about buying land though. What's a good price for an acre or two in a remote location in the woods? I'm thinking maybe a place to put a cabin up or something.

    How would one go about determining if it'd be a wise investment? If I end up getting something without power or water or anything, I'd hate to lose money on it or be stuck with it forever if I want to upgrade to a place I can build a house and live year-round.

    http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=15841&item=4306911754&rd=1

    There are a lot of places like this in southern Colorado on ebay, with a balance around $10,000 each... The one in that link I think would be frickin awesome /forums/images/graemlins/cool.gif /forums/images/graemlins/cool.gif /forums/images/graemlins/cool.gif
     
  2. Can Can

    Can Can Pusher Man Staff Member Super Moderator

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    Hmmmmmmm......I just went through this a couple of years ago. I'll try to give you some useful advice:

    1. Depending on the area, land can range from $1000 an acre to $50K an acre. Generally, remote land with poor road access and lack of infrastructure/services means you'll be getting a better price. The downside is that the farther away from civilization you are, the farther you have to go to get supplies. You may also be a fair distance from the closest hospital/EMS hall.

    2. Decide what your future plans are for the property. Do you want to eventually build a cabin/retirement house? If so, you might want to think about buying something that already has power/phone/gas on one of the property lines. Lots of people use generators/wood heat/solar setups but they are far from convenient and cost a lot of money to initially setup.

    3. MAKE SURE THE PROPERTY HAS WATER!!!!! I cannot stress this enough. Your county should have a list of wells in the area that include depth and gallon/minute info. Be forewarned that drilling a well can cost a whack of cash(I paid $25/ft for a 6" well a few years ago).

    4. Check with the county on zoning in the area you're interested in. A lot of rural property is unzoned which means your neighbor could start up a pig farm right next door to you if he wanted to. Most rural residential areas up here are classified as RR2, which basically protect land valus by limiting what you can do on your land business-wise(ie. no pig farms).

    5. Find out what the taxes are and what they include. Lots of rural areas are NOT protected by fire depts and that can have an affect on whether a bank will give you financing for said property. Also be aware that lots of banks don't offer very flexible options for financing raw land(this might be different in your area).

    That's all I can think of for now. Let me know if you have any other questions, brother!!!!
     
  3. Can Can

    Can Can Pusher Man Staff Member Super Moderator

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    I just checked out the link, brother. I would be willing to bet that that particular lot is in area that has a building commitment, meaning that within a set time from the purchase of the land you have to have a house built on the lot. Some subdivisions also specify the minimum square footage you're allowed to build as well as the style/color of the house...

    If you're looking for land that can just sit for awhile or that you camp on for a few years before you decide to build, make sure it has no building commitments written into the contract.
     
  4. Capman2k

    Capman2k 3/4 ton status

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    Good info, dude... Like I said, I'm not sure what I'm looking to do just yet, but I'd like to have my own chunk of land whether it's just to have, or camp on, or live on, or whatever... I'll take all your points into consideration though once I decide for sure my future plans /forums/images/graemlins/waytogo.gif /forums/images/graemlins/waytogo.gif /forums/images/graemlins/waytogo.gif /forums/images/graemlins/waytogo.gif
     
  5. big pappa b

    big pappa b 3/4 ton status

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    Isn't land in Wyoming about .25 cents an acre? /forums/images/graemlins/tongue.gif
     
  6. Capman2k

    Capman2k 3/4 ton status

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    Yeah, Wyoming land seems cheap... but all the land is flat and boring... at least on Ebay anyway /forums/images/graemlins/whistling.gif I want something with trees /forums/images/graemlins/peace.gif
     
  7. darkshadow

    darkshadow 1 ton status

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  8. rjfguitar

    rjfguitar 3/4 ton status GMOTM Winner

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    If you are interested look for property that you think may be desired for development one day. Maybe not in your life time but for your kids.

    EXAMPLE: My great grandpa bought a rice ranch here in Modesto California about 60 years ago for $100/per acre.
    Developers have gone nuts over the last 10-20 years and we were just offered $146,000 to $200,000 per acre for our ranch that we now live at. Did I mention that it's a 70 acre ranch? /forums/images/graemlins/yikes.gif /forums/images/graemlins/yikes.gif /forums/images/graemlins/yikes.gif /forums/images/graemlins/woot.gif Thanks Grandpa!!! /forums/images/graemlins/smile.gif
     
  9. Capman2k

    Capman2k 3/4 ton status

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    /forums/images/graemlins/waytogo.gif /forums/images/graemlins/waytogo.gif /forums/images/graemlins/waytogo.gif /forums/images/graemlins/waytogo.gif /forums/images/graemlins/waytogo.gif

    About talking to Steve... I don't have a clue about how buying land and stuff works, I just know I want some... I figured Steve was only selling houses and crap... Maybe I'll shoot him a PM sometime /forums/images/graemlins/waytogo.gif
     
  10. darkshadow

    darkshadow 1 ton status

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    couldent hurt
     
  11. 75-K5

    75-K5 3/4 ton status

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    [ QUOTE ]
    If you are interested look for property that you think may be desired for development one day. Maybe not in your life time but for your kids.

    EXAMPLE: My great grandpa bought a rice ranch here in Modesto California about 60 years ago for $100/per acre.
    Developers have gone nuts over the last 10-20 years and we were just offered $146,000 to $200,000 per acre for our ranch that we now live at. Did I mention that it's a 70 acre ranch? /forums/images/graemlins/yikes.gif /forums/images/graemlins/yikes.gif /forums/images/graemlins/yikes.gif /forums/images/graemlins/woot.gif Thanks Grandpa!!! /forums/images/graemlins/smile.gif

    [/ QUOTE ]

    Bobby, please don't ever sell that ranch. I hate seeing farmland disappear. I'll hold on to our property until my nuts fall off. Urban sprawl sucks! /forums/images/graemlins/weld.gif
     
  12. rjfguitar

    rjfguitar 3/4 ton status GMOTM Winner

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    [ QUOTE ]
    [ QUOTE ]
    If you are interested look for property that you think may be desired for development one day. Maybe not in your life time but for your kids.

    EXAMPLE: My great grandpa bought a rice ranch here in Modesto California about 60 years ago for $100/per acre.
    Developers have gone nuts over the last 10-20 years and we were just offered $146,000 to $200,000 per acre for our ranch that we now live at. Did I mention that it's a 70 acre ranch? /forums/images/graemlins/yikes.gif /forums/images/graemlins/yikes.gif /forums/images/graemlins/yikes.gif /forums/images/graemlins/woot.gif Thanks Grandpa!!! /forums/images/graemlins/smile.gif

    [/ QUOTE ]

    Bobby, please don't ever sell that ranch. I hate seeing farmland disappear. I'll hold on to our property until my nuts fall off. Urban sprawl sucks! /forums/images/graemlins/weld.gif

    [/ QUOTE ]
    I have always said the same thing but if they build all around us it will be nearly impossible to farm because we use airplanes and choppers to put out all our seed and chemicals. They are building a new high school right next door. Besides 14 million bucks does funny things to your plans. /forums/images/graemlins/crazy.gif /forums/images/graemlins/eek.gif
     
  13. BlazerGuy

    BlazerGuy 3/4 ton status

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    Check the floodplains with the county. It would suck if the land is underwater most of the time. /forums/images/graemlins/doah.gif
     
  14. gjk5

    gjk5 3/4 ton status

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    I know the area, and that is definitely not an issue. The water rights are however. You have to keep in mind that land like you linked could only be used as vacation prop., there is no local economy to speak of, or place for you to work. There is still some land pretty cheap in CO., but most of it is way out or unbuildable. And keep in mind that 1.7 ac. is not that much either, especially for vacation. I would say by looking at that website, it would be mostly vacation cabins and some mobile homes on those parcels.

    there is a place a little south of there that has a nice big lake bordering the property and the lots are 20-50 ac.

    http://www.melbyranch.com/
     
  15. behemoth

    behemoth 1/2 ton status

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    [ QUOTE ]
    How would one go about determining if it'd be a wise investment?

    [/ QUOTE ]
    Land is ALWAYS a wise investment because they're not making any more!!! (always wondered who "they" were). /forums/images/graemlins/thinking.gif
     

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