Author Topic: When looking at land, what other expenses do I need to be aware of?  (Read 1686 times)

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Offline teddy12b

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I’ve been looking for land to buy and build a home on for as long as I can remember.  I actually found something I like and that would be a good fit for me and my family recently and I might actually be making this happen.  In doing my homework I’m obviously trying to figure out how much everything is going to cost me and what new expenses I should expect. 

For example, currently I have a tiny yard that I can push mow, trim and be done with in about an hour or less so I know I’m going to have to look at buying a riding lawnmower.  What other costs or anything else should I expect to have to deal with when purchasing a couple acres?

Eventually, once all the dust has settled and we’d be in the new house, there’s enough land that I’d be able to plant trees and draw in wildlife so I’d really look forward to that if it all worked out.

Offline keith44

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #1 on: April 25, 2011, 07:51:18 AM »
I am one year in to my new property.  We found 12 acres that just fit, and was affordable, and built our new home on.  In no particular order, here's what I looked for (land related) and what tools and equipment I use most often.

Land and house related - Make sure you know if you will be on sewer or septic!!  If septic system the ground MUST "perk".  Also if septic what will you want to do over the lateral lines?  We drive over a section of ours so the construction was a bit different than "modern" designs.  How will you get electricity?  Over head lines or buried?  We buried ours, extra expences there too.  Are you going to be building in a low spot? or are you on high ground, we're on top of a hill.

Other equipment- 1 to 2 acres any riding mower will handle that. 5+ acres You'll need a substantial machine, We spent nearly $3K on a Cub Cadet with a 50" deck.  A good weed eater, fencing materials and equipment (post hole diggers, "T-post driver, etc (one or the other usually not both)).  Chain saw if there are any trees around,  Shovels, garden tools, tiller (if you plan to garden)  The list goes on.  Figure out what you want to do, then figure out how to do it with what you have, then look at the tools on the market to see if they make it easier enough to justify the purchase.  Also how often will you use them plays into whether you really need to spend the money.

Best of luck, and enjoy the journey (we are!!)

Keith
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Offline no guns here

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #2 on: April 25, 2011, 08:03:43 AM »
Additionally, most lenders want 10% to 30% or so down.  It's almost impossible from what I've found to get a 100% financing on unimproved land.


NGH
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Offline charles p

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #3 on: April 25, 2011, 08:27:32 AM »
Well and septic tank.  Driveway maintenance.  Trash pickup.  Propane if nat gas is not avalable.  Snow plowing.  Four wheeler.  Garden tractor and trailer.  Property tax.  Higher homeowner insurance than inside an incorporated town with fulltime fire dept.  Chainsaw.  Leaf blower.  Burning barrell. Generator.  Satelite dish.  Pickup truck.  Worksop.  Wood shed.  Wood fired boiler.  Pond and boat.  Bushhog.  Extra freezer for meat and veggies you put up.  Hard working wife.

The list of toys you will need will never end.

Offline Bugflipper

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #4 on: April 25, 2011, 10:24:20 AM »
Water, food, shelter and security. For sustainability those are the basic needs.

Water, should be enough to support what you wish the land to do. For instance the fruit trees, possible garden, possible livestock, family and maybe even power. It is really best to have a stream on site as well as a holding pond that does not become stagnant. In other words you widen the stream or build a pond with a branch feeding in and out back to the stream. Or the pond could just be spring fed from underneath. It is fine to have a well or city water. But it is also much better to have a sustainable source if either of those fail.

Food, again what is needed by you and also what is needed by what you have. Trees can pretty well get by without feeding them. The garden really needs some form of organic material to remain productive. The livestock needs to be sustained by the food the land produces. The family needs to be sustained by the land as well. Of coarse you may choose to have the land not provide your chief source of food, but that is an added expense in itself. As is if you choose to have edible animals and choosing to depend on feed bought from a store to sustain them.

Shelter is basic, but can be set up in a way in which it costs less than a standard home to dwell in. There are so many options on this that I really can't even scratch the surface. You can build a home in a way that it is self supportive as well. With thick insulation, solar heat, thermal heat, geo thermal heat and cooling, the list goes on.

Security. If you are further out away from the city, it makes you a little more of a target for thieves. Security is pretty simple. Bars on windows that allow you to exit said window in case of fire. A steel door frame. A metal door. Mushroom pins in the locks to prevent picking or bumping for entry. Maybe even security door. Secure outbuildings to protect your things. And of coarse guns to protect what you have. This is not only for people. In every venture involving fruit, vegetables and animals, most likely you are going to run into a problem with something else wanting to eat them before you have the chance. This also relates to food storage such as root cellars feed cribs and the like. Just keeping what you have from being stolen by man or mouse.

I have two places, but only live at one, the other has a house that is rented out. For the last 7 years they have produced a profit. The first place is paid for. If all goes well the second will be in 1-5 years depending on the economy. A lot of folks jump head first with very little planning. It is better to set all of your goals before hand and make sure the land can meet all of those needs. You also must factor in that 20 years from now those needs may have to change, so it must be flexible for that. Or at least profitable enough to sell and buy another place that will suit your needs then. Depending on what your current needs are, you may want to look into some books on homesteading. Maybe look into alternative energies here and other sites. Perhaps into farming and gardening as well.

Molon labe

Offline Pat/Rick

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #5 on: April 25, 2011, 10:41:51 AM »
If water will come from a well that needs to be dug, you can go to the county and find out the average depth of nearby wells are. Could give you an idea what a well driller will charge.

Call the power provider and find out how much a foot for a power line to the house, etc.

pretty much alot has already been covered with good advice given.

We are on nine little acres (almost a year now), lots to still be done. Going to start collecting goats and maybe a few feeder pigs soon, this place was neglected and got overgrown with blackberries and vine maple. Lot's of firewood and pie ingredients, but short on pasture for beef. (So far). Wanting to plant new orchard and get chickens next year.

Offline teddy12b

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #6 on: April 25, 2011, 11:15:59 AM »
A lot of the handtools I already have.  I grew up in the country so a lot of this isn't going to be anything new for me other than actually owning my own land.  I have wife who's due in about 2 more months and our daughter is going to be 2.5 when the new baby gets here so pulling this off would be a miracle, but there's nothing to say we couldn't buy the land now and start paying on it and build later.

If I'm fortunate enough to pull this off, the first order of business would be adding some fruit trees and some strawberries.  I'm reading a lot about strawberry's lately because I want to get them growing wild and plentiful.   I don't see myself raising any livestock out there, mostly because I haven't talked my wife into it yet.  I really want to get a decent garden up and going as soon as I could so I could at least I'd have some food coming in from the land.  I'd also like to learn how to starting canning fruits and veggies on my own with the mason jars.  I've never done it and haven't found a decent video on how to yet on youtube.

Offline The Hermit

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #7 on: April 25, 2011, 06:23:11 PM »
Bugflipper +1.

Lots of good advice here. If you end up with out power, on purpose or by accident, the thing that we found that was most needed and usually taken for granted is water.


The Hermit

Offline streak

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #8 on: April 25, 2011, 06:45:37 PM »
Looks like alot has already been covered here, I would add that be sure and be aware of what type of neighbors( if any) you might have! life can get pretty lousy with neighbor problems!
Also do not know about fences in your neighborhood, but if allowed I would definately put one up!
Good fences make good neighbors.
Also fences will almost for certain keep you from having the problem of "Adverse Possession" from happening!! You certainly do not want that to ever get started.
Lot`s of luck in your quest!
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Offline Lloyd Smale

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #9 on: April 26, 2011, 02:22:32 AM »
i would like to see the property in the spring when its its wettest to see the drainage on the land and the roads accessing it. Like was said make sure all utilitys are available or doable like elect. water sewer phone gas. Even if you dont think you need things like gas and can get by with wood. As you get older it may not be an option. If you have kids make sure you have bus pickup near by. Living way off by yourself has many advantages but also has many disadvantages. You need to make sure you understand them all and are willing to deal with them for the REST of your life. Just the price of gas right now will force most to live closer to where they work. One more thing is check on what the tax rates are in the area you are wanting to live.
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Offline torpedoman

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #10 on: April 26, 2011, 05:11:57 PM »
Well and septic tank.  Driveway maintenance.  Trash pickup.  Propane if nat gas is not avalable.  Snow plowing.  Four wheeler.  Garden tractor and trailer.  Property tax.  Higher homeowner insurance than inside an incorporated town with fulltime fire dept.  Chainsaw.  Leaf blower.  Burning barrell. Generator.  Satelite dish.  Pickup truck.  Worksop.  Wood shed.  Wood fired boiler.  Pond and boat.  Bushhog.  Extra freezer for meat and veggies you put up.  Hard working wife.

The list of toys you will need will never end.
add power is it in or will you need to run expensive power lines to you building site? Phone  some rural areas only have dial up puter service you may need something faster (read EXPENSIVE)
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Offline Bugflipper

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #11 on: April 30, 2011, 12:33:06 PM »
If no city water or available clean spring or creek fed water you may also need to factor in power outages. A generator may be needed to pump up the well to keep you in water. Of coarse you could come up with a non electric well pump. Or a water holding station that is elevated and gravity fed. It just takes them a little longer to get power restored to the folks out in the country in most cases. They can get the majority online at one time so they usually focus on the city. We have been out of power for 3 days and they are projecting 5-7 more. I live off the grid so no matter. But if your life depends on electricity being delivered that could become a problem in the long term.
Molon labe

Offline Empty Quiver

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #12 on: April 30, 2011, 06:41:33 PM »
The extra trips to town add up. Kids ball practice, dance lessons, school functions, visiting the neighbor kids / play dates. if you live on gravel, expect shorter vehicle life cycles, brakes, ball joints, rust, exhaust all of it. Electricity may be much higher cost / kilowatt if on a power co-op. A long lane is nice till you are dressing it with fresh gravel, or plowing it out from under a couple hundred yards of heavy drifted snow.
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Offline Shu

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #13 on: May 01, 2011, 12:45:13 PM »
Don't forget emergency services are even farther away. A good first aid kit and a some studying on the subject. It may not be an "expense" but it does need to be looked at.

Good luck with your plan sounds exciting.

Offline hillbill

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #14 on: May 01, 2011, 02:46:00 PM »
being a property owner comes with all kinds of expense that yu wont ever expect.i purchased 30 acres of paid for land and then realized a needed a backoe and a bulldozer to bring it to its full potentiol.then i needed to build a shed to keep them in cuz i hate my junk rusting in the rain.then i needed a tractor and bushog, a disc and digger for food plots, a spreader for fertilizer and seed.yu get the idea.but i have all the equipment and have greatly improved the value of the property.now i need a pond and more diesel to clear more brush for more food plots.the equipment can pay for itself by hireing it out for jobs.the short story is that i love it!my son killed a huge deer there last season and it was worth just about everything i put into it.just the look on his 15 yr old face made it all worth it.

Offline teddy12b

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #15 on: May 02, 2011, 03:16:06 AM »
One of the best parts of this land is that it's secluded, but not clear out in the middle of no where.  We'd actually be closer to family and so one.  There's a long gravel drive, but multiple houses will use it, so it's not really going to be a big issue, but I'd glad it was brought up. 

Offline mannyrock

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #16 on: May 03, 2011, 11:44:35 AM »
   
    That long gravel drive will eat you alive!

     Every four years or so, you wil need to put down an additional four inches of gravel, ten feet wide, along the entire length.  Imagine what that will cost.
 
      And, as mentioned above, the wear and tear on your vehicles will be extreme.

      I lived on a 45 acre place for 16 years, with a 150 yard long gravel drive.  So, I know what I'm talking about.  Every four years, I spent a minimum of $1,800 having new gravel put down.  If I didn't, the road just disappeared into the ground.

       By the way, if any water flow cuts across the drive, then you can count on it washing out at least once a year, which means tractor time and more gravel.

       If you get deep snow, and have to snow plow the road, then that will move huge amounts of gravel out of the road as well.

      So, you need to plan your expenses accordingly.

Mannyrock


Offline 30-30man

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #17 on: May 11, 2011, 05:22:23 PM »
Property taxes are the biggest killer for me.  You have to buy at least 10 acres at a time so that it will be zoned agricultural use. If it's less, it gets taxed at the residential rate.  Your local government may eat you alive with property taxes, so check it out. There is also zoning to contend with.  I am able to sell pine straw on my place every year to pay my taxes on 1200+/- acres. Now this land was given to me, I could have never afforded it in my lifetime. I was blessed, but even at the age of 30 when it was given to me, I didn't think I could afford the taxes on the place. The taxes on the land are cheaper than they are on the house. Another thing.... If you buy a piece of agricultural land that is not large enough, your county might hit you with back taxes for the last seven years because it is now considered residential.  That is what they do here. I learned this when I gave my neice an acre to build a house on last year.  Property taxes are not that bad in SC, but up North they can be a killer. Most people who are selling land will not want to tell you what they are paying every year in taxes, but this info can be had at your county tax office in most places. Check it out.

Offline guzzijohn

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Re: When looking at land, what other expenses do I need to be aware of?
« Reply #18 on: May 12, 2011, 04:10:08 AM »
There have been a number of good post so far. A few things that I have not seen mentioned.
If building a new home, etc. on the site, check and see if the county requires a "road damage deposit". Some counties in central Kansas require a deposit of 2-3 thousand dollars. When we did out place I had to put down $2,000 that was held for five years. It was refunded in full but without any interest. If the county thinks that the roadway sustained any kind of "damage" from your construction they will take all or part of your deposit.
Second, be sure and check the water and mineral rights. It is possible for you to buy the land but someone else may still own the mineral and/or water rights.
Third, I will also say check out your neighbors. They can make or break your country living experience.
Fourth, about everything will cost more. Service calls, etc. are more expensive depending upon travel distance.
Fifth, regardless, it is damn well worth it all compared to living in the city. :)
GuzziJohn