Land

[Morning Owl]

How do you guy's do it? I live on an acre that is basically investment property as it is not enough land for me and they will tax me out of it in time. The owner is carrying it for me because it was 100k (out of my price range) and the other people looking at it wanted to put condos or apartments on it. How do you afford to buy land, live and work in town, and still have money to live off of? I want my own land so bad but I'm single with one income, about 17k a year take home. Not whining at all, I make decent money for were I live but the price of land is high here unless you go way out. Even then most of this cheaper land is worthless to grow or raise any thing on, just rocks and sage brush. I couldn't make 2 land payments and I couldn't live that far out and still work to pay for it.

How do you do it? Can you give me ideas - options?

[BTO]

Originally Posted by Morning Owl

How do you guy's do it? I live on an acre that is basically investment property as it is not enough land for me and they will tax me out of it in time. The owner is carrying it for me because it was 100k (out of my price range) and the other people looking at it wanted to put condos or apartments on it. How do you afford to buy land, live and work in town, and still have money to live off of? I want my own land so bad but I'm single with one income, about 17k a year take home. Not whining at all, I make decent money for were I live but the price of land is high here unless you go way out. Even then most of this cheaper land is worthless to grow or raise any thing on, just rocks and sage brush. I couldn't make 2 land payments and I couldn't live that far out and still work to pay for it.

How do you do it? Can you give me ideas - options?

I developed a philosophy over the years and it goes like this: Find a piece of land that no one else wants and you aren't ashamed of owning. When you find it it will usually be priced such that you can afford it. I know that sounds dumb but it has always worked for me.

[KrisW]

You can do 1 of 2 things … Sorry to be so blunt, but here it is ....
1. Accept what you have there in front of you.
2. Move somewhere else where you can afford land and still find work.

End of story.

Kris

[ET1 SS]

$100k for one acre of land is crazy.

I do not intend any insult, I do apologize if it sounded insulting, but that is just way too much.

I shopped for land for ten years, before I finally found everything that we could deal with.

a. land prices that we could afford,
b. close to ocean,
c. close to mountains,
d. rural,
e. far away from droughts,
f. homeschool friendly,
g. depressed local economy that drives prices of most things down,
h. close to colleges for the children,
i. river frontage,
j. year around maintained roads,
k. forest filled with wildlife,
l. a local culture where everyone hunts, fishes, or farms.

We paid $900/acre, annual property taxes are about $1.05/acre.

But these things are not the 'right' combination for other folks, only for us.

So keep looking.

[thechickenladyx]

open your range. be available to move. decide what matters more. your present condition or the land.

jesse

[Mountaineer]

Originally Posted by ET1 SS

g. depressed local economy that drives prices of most things down,

Most 'can't afford' to live in that sort of place. If that $100k is a "desireable" property, why not work your butt off and keep it? 1 acre is a great start, you can do a lot with just an acre (excluding large livestock in most cases) and you will be able to flip it at some point for your dream acreage further from town. Over time values go UP, and more rapidly closer to town than in depressed areas.

[ET1 SS]

Originally Posted by Mountaineer

Most 'can't afford' to live in that sort of place. If that $100k is a "desireable" property, why not work your butt off and keep it? 1 acre is a great start, you can do a lot with just an acre (excluding large livestock in most cases) and you will be able to flip it at some point for your dream acreage further from town. Over time values go UP, and more rapidly closer to town than in depressed areas.

Well I can more easily afford to live in a place with $300/acre land, than I could at a place with $100k/acre land.

I am busy working my but off building a house, raised bed gardens, tending goats and chickens, and fishing.

But then again I retired.

[radiofish]

Land at 100K per acre - man if I could move my acreage I would be rich!!!!! Luckily my place found me by word of mouth and Karma rather than my looking for it at a much lower price. In my circumstances, I am permanently disabled from the Federal Government, so I have a guaranteed income anywhere I live. Most of my driving is for medical appointents which I get a gas allocation, so I combine trips/ chores at 1 time. Learn to make every penny stretch as far as you can, no cable, or satellite TV partying all the time, no fast food, cheapest dial-up internet provider, etc.... That is how I do it on a fixed income!

I would say it is your own decision, if you wish to stay where you are, or to relocate to a different geographic location with much lower land prices. Having to make a living (i.e. JOB) is also a major consideration. Many occupations are condusive to their location. It is hard to be a Fisheries Biologist in the middle of the desert!! But it allowed me to live in very remote locations for many years while working!!! Maybe a change in your career is also in the cards in order for you to find your ideal place???

[montysky]

My family. GreatGrandfatherX4 I think and his Brother moved from Germany in 1860 to what is now Springhill Montana, and working my tail off keeping my share going full time.

[cozyhollow-gal]

Morning Owl.
I too live in Montana. It is among the highest states for Cost Of Living. Taxes are outrageous as far as I am concerned and I wouldn't buy land here. And rents have tripled since I first moved here in 1990. I plan to buy in WV or someplace near. I see Arkansas is among the States of cheaper Taxation. Mid-state Florida used to be considered among the cheapest places to live, but don't know if it still is. I know a lot of people have lost their land here in Montana and more will sell out because of the high tax rates and land prices..etc. It is out of control and just not fair to the Montana people. But government always wins.

[Terri]

I do not know. We got a house with an acre through HUD, so we have a mortgage.

Tell me, is it bare land or is there water? If there is water, you COULD have a garden out there! Dollar store seeds cost only pennies. If you have it, enjoying it sounds wise!

Or, since the season in Montana is VERY early, you might try planting some frost-hardy veggies to take advantage of the spring moisture. You can carry water in clean jugs every week when the weather gets dryer. Make a picnic out of it with the kids.

[Madame]

What keeps you in Montana? In Wisconsin, rural land runs $4,000-$7,000 an acre. May be cheaper way up north, I don't know. Definitely more $ near the cities.
If your job skills can transfer and you are open to moving, use vacation time to check out a few different areas, see if you can get work there. If not, if the land price is right, buy land anyhow and hold it for future use.
I have friends who bought acreage in Wisconsin. A few years ago they lived in a 4 bedroom house. Then they bought land w/a land contract. Year One, they lived in a camper - no electricity, no water, sawdust toilet. Year Two they got a trailer and now have electric and a well on the property, but still no indoor plumbing. They don't have much and are very, very frugal, out of necessity - but their dream is coming true. It can be done, and riches are nice though not essential - but location makes a definite difference.

[NWoods_Hippie]

Madam,

It is NOT cheaper "up north" taxes are out of control, at least here in tourist land, Vilas County to be exact! Also it is VERY hard to find land that is "farmable" in my area, unless you want to spend years cutting down trees and pulling stumps. I live on (rent) one of the few pieces of land in my township that was cleared for farming years and years ago so I am lucky! I drove by a 5 acre parcel that is for sale the other day, ALL STUMPS from recent logging, the road into it is barely navigable, no water, no electric run anywhere close to the property, and the realtor is asking $75,000 for the parcel, ridiculous!!

Margie

[Morning Owl]

Thanks every one. I will stay here along as I can, but no I will not be able to keep it. I will be taxed out of it eventually. I guess I will just keep looking, I found this place on a miracle.
Terri yes I do have a well, 13 gallons a minute. Which is really good for Montana. I will be planting a garden this year. I need to build a fenced in area for it first as there are so many deer and a moose on my property that it would be pointless unless I fenced it in. I am very excited for my garden.

[piglady]

We bought 190 acres in Missouri in 2000 for under 100K. No water other than a year round creek, no electric, and no fencing. All that has been added and now home to 20 cows, 50 boer goats, an ever changing number of pigs (13 at last count), 6 horses and poultry that manages to stay away from the halks. It's an hour drive to the nearest college but only 20 minutes to the nearest town (food, gas, etc.). We love the privacy, no codes of any kind, taxes (on the land, animals, equipment and 1600 sq ft new house) is only $1,000 a year. I think there is 120 acres for sale down the road but not sure what today's prices are.

[Madame]

Originally Posted by piglady

We bought 190 acres in Missouri in 2000 for under 100K. No water other than a year round creek, no electric, and no fencing. All that has been added and now home to 20 cows, 50 boer goats, an ever changing number of pigs (13 at last count), 6 horses and poultry that manages to stay away from the halks. It's an hour drive to the nearest college but only 20 minutes to the nearest town (food, gas, etc.). We love the privacy, no codes of any kind, taxes (on the land, animals, equipment and 1600 sq ft new house) is only $1,000 a year. I think there is 120 acres for sale down the road but not sure what today's prices are.

I'm drooling with envy!

[ET1 SS]

Originally Posted by NWoods_Hippie

Madam,

It is NOT cheaper "up north" taxes are out of control, ...

Just not North enough.

[ET1 SS]

Originally Posted by piglady

We bought 190 acres in Missouri in 2000 for under 100K. No water other than a year round creek, no electric, and no fencing. All that has been added and now home to 20 cows, 50 boer goats, an ever changing number of pigs (13 at last count), 6 horses and poultry that manages to stay away from the halks. It's an hour drive to the nearest college but only 20 minutes to the nearest town (food, gas, etc.). We love the privacy, no codes of any kind, taxes (on the land, animals, equipment and 1600 sq ft new house) is only $1,000 a year. I think there is 120 acres for sale down the road but not sure what today's prices are.

Wow.

190 acres at $100k, and $1,000 taxes each year.

I could never afford all that.

[haypoint]

Morning Owl,
A lot of people aren't going to like this, but sometimes you have to do what works in your situation. If, as I suspect, that acre is located in a high traffic area, there is a way to live on the land and earn a living. Grow vegetables on the whole acre. Live in a tent. Those traveling past will see you toiling the garden. Once crops ripen, set up a stand to sell fresh vegetables. At night, purchase vegetables from the local wholesale market, filling your tent. This way you can buy what seems to sell best to keep up with the demand. Save your money for a down payment of land that is more reasonable. Read the books- 5 acres and independence and 10 acres enough.

[fantasymaker]

Originally Posted by Morning Owl

How do you guy's do it? ......................................

How do you do it? Can you give me ideas - options?

You answered your own question you cant afford to be there....so be somwhere else.