Looking for help on living "rural"

Mateo1041 · #1 03/12/10, 10:12 PM

Hi all,

In a nutshell, my wife and I recently managed to sell our house in the city and have a dream to live "rural". I put that in quotes as we don't quite have a definition for that yet. We are looking for something within a 30 minute drive of Prior Lake, MN. Our dream is to have 5+ mostly-wooded acres, a large garden, chickens, maybe bees, and work toward being more self-sufficient. We're tired of crowded areas, traffic, and people everywhere. We have 4 kids (under age 7) that would be coming along for the ride. My wife homeschools.

We have a budget of around $170,000 to make this happen. Our dilemma, however, is that we can't quite make up our mind on sacrifices that would need to be made. We'd love a 1,500+ sq ft house with enough bedrooms and 5+ acres of mostly-wooded land. But so far, we haven't found something like that within our budget.

It seems we have the following options:

1) Increase our budget to afford a decent house and acreage.
2) Buy acreage that includes a less than stellar house needing a ton of work.
3) Buy a decent house with less acreage.
4) Buy just the lot and build something that would somehow fall within budget.

As much as we'd love to do #4, I have no home construction knowledge. I'm a smart guy and have undertaken minor projects before (roofing, painting, some electrical work), but wouldn't know where to start if we did build something ourselves. I'm quite freaked out by the thought of it.

We did find a nice house we like that has 0.63 acres and is in a rural subdivision, but just haven't been able to "pull the trigger" as it's not 100% of our dream.

Do we compromise or go for 100% of the dream? And if so, how do we get there? I'm hoping you fine people may have some ideas to help us out. :-) Seriously, any advice would be appreciated. We've spent so much effort over the course of 3 years to sell our old place that we're extra careful now that we're finally able to buy.

- Matt

DenverGirlie · #2 03/12/10, 10:21 PM

what about option 5? Increase radius of your search area?

Of your choices I would go with option 2 off hand, but of course whar tons of work really means and how urgent those repairs would be upon taking ownership.
But only the right property would trigger this option.

,63 acres.. wouldn't be a consideration, but perhaps 2-3 acres would.

Since you just sold the city house, how soon do you have to make a choice? Can you rent for a bit to find the new place? or are you in a hurry?

best of luck in figuring it out

Mateo1041 · #3 03/12/10, 10:40 PM

We're not in a hurry, although do look forward to living "normally" again and not in a relative's basement. :-)

I just don't want to spend a large portion of my day driving. That's no fun. We unfortunately haven't yet found option #2. We did find a place with nearly 2 acres, but it was a bit over-budget and the house just didn't feel right.

Maybe our best option is to just wait and not do anything right now.

chewie · #4 03/12/10, 11:44 PM

waiting wont' hurt either. we bought a chunk and built a house. at first it seemed fun, but by now, 2 weeks from the 'walk thru', i'm burnt out and sick of working on the house ALLL the time. it isn't an easy option. we also didn't know what we were doing, but we learned as we went. you do figure things out. knowing what i do now, i'd look harder for a place lke option #2. it will take time tho. best to you.

roachhill · #5 03/12/10, 11:45 PM

If you don't get the acreage to start you never will. It's easier to add more housing over time. A lot can be done by home builders as long as you don't let people tell you that you can't do it. I've seen people live in mobile homes, campers, converted barns and sheds, over garages and even in yurts while they build. I guess it depends how much you want to make the switch to the rural life. If you want it enough to struggle and sacrifice to get it then find the right piece of land and make it happen. If not buy the cushy house in the burbs and forget about the country life.

roachhill · #6 03/12/10, 11:49 PM

I should mention that I've been working on my cabin by myself for about a year now with no building experience and virtually no budget. It can be done if you really want it to happen.

Joshie · #7 03/13/10, 12:19 AM

How long have you looked? It took our horse guy two years to find his place. We thought we found our place quickly. It only took a year. If your budget is $170,000 and you have no construction knowledge, you should probably purchase a house. Unfortunately, it can be difficult to have a house of any size built for that price. I do have a friend in Wisconsin whose husband is a quality, small builder. He's much less expensive than the big builders.

We found lots of nice houses with horrible land and horrid houses on nice land. We finally settled on this place because the land is nice and the house is OK. It's only 1200 sq ft (we came from a suburban house that was about 5 times larger) so we intended to add a master suite, two car garage, and a basement under the bedroom. My health has dramatically declined and I have been on medical leave since September. My doc recently told me he didn't think I'd ever return to work. Soooo, unless I win the HGTV Dream House on Monday I don't think we'll be adding on. (Of course if I do win we won't add on either. We'll move this place to another part of the property because you know we need a caretaker cottage.)

This property is just over 27 acres. We have about 10 acres in hay. We have fencing all around. It was set up as a horse property by the previous owner. We have several nice pastures and a nice outdoor arena. We have wonderful garden space and the most beautiful creek ever. We've even got several promising pond/lake sites.

My point is that you most likely need to be patient. When you find the ideal spot for your family you can jump on it quickly.

We never dreamed that we'd end up with this much acreage but it's beautiful and I'm glad that we have it. We just had to wait until we got the best property for us. It's located in a good school district. I homeschooled until my health declined so much so school districts we not really even a consideration in the house hunt. Even if you homeschool you really should consider the school district as that's important for resale value.

rambler · #8 03/13/10, 01:52 AM

I'm about an hou & 1/2 south of you - bit west.

Around here over the past 4 years I've seen several 5 acre plots with house & outbuildings sell for about $120,000. I know you are closer to the 'Cities ther, but still. These are on gravel roads, it keeps out the fancy people some, to a more manageable price.

Auctions are a good way to find deals around here.

You can live in a rougher house, and you can upgrade it someday.

Once you have a 1/2 acre of land, there you are, won't ever have any more.

Guess I would look to compromise on the house, and go for the right land to start with.

--->Paul

blooba · #9 03/13/10, 07:27 AM

If you really wanted your "dream" perfectly setup house than I would suggest building. It's not too bad and kinda easy to learn since the technical (electric ect.) stuff is done by contractors usually anyways.

Although I would probably buy a house that needs fixed up. You will have an instant roof over your head and can slowly modify as the budget allows.

StephanieH · #10 03/13/10, 07:45 AM

I would not buy the house on .63 acres. What will that help? You will still have the dream and when you realize you are not happy on .63 acres you will have to sell and start over...I am not sure how it is where you are but here houses are not selling. I would want to buy the house I was planning on staying in.

SFM in KY · #11 03/13/10, 07:45 AM

Just two suggestions. probably somewhat related. I don't know anything about the specific area you are in, how much it is expanding or likely to expand, etc. but I would consider the option of going a bit further out. Depending on "why" that is your limit ... work? medical care? shopping? ... it might be reasonable to trade a little more distance for less $$ investment.

My second suggestion would be related to that as well. I absolutely would not buy in any kind of subdivision, rural or not. I lived in one which had some subdivision "rules" that I figured I could live with when I bought ... but the other owners kept adding to them and as the only real "farm person" I really had no say in the situation as it as a majority rule thing. I'd vote no ... everyone else would vote yes ...

Mateo1041 · #12 03/13/10, 08:05 AM

Thanks for the input, everyone.

We've been looking for about a month so far. Something my wife and I question is how badly we want this. It's something we still haven't been able to answer. We have a dream to live more rural, but are not sure what sacrifices we're willing to make to get there. Part of it is that we just came from a problem house we regretted purchasing. :-)

Perhaps we just haven't found property yet that is worth a less desirable house. We're somewhat flexible on layout, but are more concerned about something requiring a ton of work.

Deb862 · #13 03/13/10, 08:10 AM

Quote:

Originally Posted by Joshie

We found lots of nice houses with horrible land and horrid houses on nice land.

This is the story of our current search as well,and we've been searching for 2 years. The agents think we're "picky" but we just refuse to buy anything less than good land, and you'd be amazed at what some consider "good" land! Like you, we have had to drastically down-scale our expectations but feel that if we are going to accept 3-5 acres then they must be very good acres. We'll compromise on the house instead. You can fix a house, you're stuck with the land. We've been very interested in more than a few places but after diligent research on soils maps, topography, neighbors, etc., we ruled them out. Of course, this was disappointing to us as we were really interested in them, but we would have been more disappointed had we gone ahead with the purchase and had to live with whatever the property's deficiency was.

As another poster pointed out above, we also have been searching for quite a while and it seems like it will just never happen, but as we enter a new selling season we are again hopeful to find something this year. My advice would be to not compromise on the quality of the land and have patience. What's that saying....'fate is when opportunity and preparedness meet' or something to that effect. If you're prepared in all other ways then you'll be ready to jump when the right opportunity arises.

ronbre · #14 03/13/10, 08:14 AM

go to every bank and lending institution in your area and ask what they have on their repo lists that might fit your needs..lots of times repos are not listed as regular real estate..

another good one is to list what you are looking for in the paper or on craigslist..a lot of people who are just about to default on their houses figure they can't sell them in this market so they aren't listing them at all..they would much rather sell them than to ruin their credit..so if they see your ad you probably will be bombarded with phonecalls and emails..

we sold MIL's house on craigslist in the depressed market for $100K less than it was worth just to get out from under it..

conventional real estate agents just want their cut

Mateo1041 · #15 03/13/10, 08:23 AM

Some good ideas. We'll have to try some creative approaches.

Our limit has been 30 minutes. Prior Lake is fairly rural, so we're at least in a good position to look outside city limits. We just need to find someone who's selling within this radius. As much as I enjoy the radio, driving any longer than 30 minutes to get to work would outweigh the benefit of a great property to me. And it wouldn't be friendly on gas used.

We do have a buyer's agent that's been fairly good about taking us to see houses. I think she's already getting tired of our indecision, though. We've probably looked at 20 houses so far. With our last place that ended in disappointment, we looked at 7 or so. We have her until July or so and have been fairly happy with her.

brreitsma · #16 03/13/10, 08:27 AM

I live within a half hour of Prior Lake. If you are looking for rural acerage within a half hour I hope you got a small fortune for your home. I think local land prices are about the highest in the state. Not trying to be discourageing just saying.

Deb862 · #17 03/13/10, 08:31 AM

Mateo, this is of course my opinion, but we have refused to work with an agent for many reasons, but mostly because they're really working for them even if they're a buyer's agent. I have taken on the role of 'agent' for us instead. I monitor the MLS's in our area many times daily and call the listing agent myself. I know what we're looking for better than anyone else so know what I need to ask to either rule it in or out immediately. I then go on www.maps.live.com or Mapquest and check it out on satellite view. Some would say that having a buyer's agent is better as you have someone "working" for you, but as I said, they are ALL really in the end just trying to sell you something and will sell whatever will stick. If one becomes educated enough about the local market, monitors the MLS like a hawk, does enough research, and knows exactly what they're looking for, all that's left is negotiation and you can do that also. It's not that difficult. Some have argued me that a buyer's agent will help you get a better price to which I say maybe or maybe not. As I said, if you become educated enough on the local market and do enough research you can represent yourself (with a lawyer to represent you of course for closing,etc.)

No one will represent you better than YOU.

woodsy · #18 03/13/10, 08:31 AM

"Good things come to those who wait"
Land and home purchases nothing to hurry in to.
We spent 2 years finding a piece of land that felt right.
Then another couple three years getting it DIY built. Moved in rustic to get out of renting.
Plenty of other good advice here, take your time...

Callieslamb · #19 03/13/10, 08:33 AM

When we moved we looked at 50 houses. Don't let a reluctant realtor drag you down. That's her problem and she doesn't get paid until you buy. Our last realtor basically told us he was putting out too much money? HUH? He drove us around and made copies. I was the one that looked for properties that we wanted to see. Granted, once we made th decision, he earned his pay.

Have you checked 'for sale by owner' properties? Many people like to save the realty fees and sell on their own.

I would go with the land you want definately. If you have a bit smaller house - add on to it later. That is more easily done than adding on land....or moving again.

As for worried about living 'rural'. The biggest difference we noticed was just getting the kids to their activities and their jobs. Other than that - it was all GOOD. They could run outside and scream their little heads off and no one cared. What you are planning isn't going to really change your lifestyle that much - other than time spent in the garden. Now, if you had said you wanted to start a goat dairy- there are some big changes! You will still be close enough for a quick trip into town for dinner or a movie - to meet friends, whatever you want. Flip side of that is that you are also far enough that you don't HAVE to go in as often either.

Good luck. Hope you find a good place soon!

Mateo1041 · #20 03/13/10, 08:35 AM

We have seen some rural acreage within 30 minutes of Prior Lake, but it hasn't really been what we're after. We're looking for something more wooded than what we've found. One property was 10 acres and very promising, but sold right before we began our search.