What would you do with $200,000?

Stev · #1 07/16/13, 04:43 PM

Imagine that you were starting fresh... you didn't own any land or any equipment, but wanted to end up as self-sufficient as possible - living at least mostly off grid. What would you do? Where would you buy your land? What would you want on your property?

Yes, I'm fishing for ideas :-) No, I don't have $200,000 saved up (quite yet).

I look forward to reading what you can share.

rambler · #2 07/16/13, 05:06 PM

Well, off grid and such, I guess I'd look for not too hot, certainly not too cold, and easy access to water, and not needing a lot of irrigation so more rainfall than less. Moderate climates allow longer gardening and grazing as well.

15 acres often covers what a person needs, trees for shelter and fuel, pasture for a couple critters, area for house well septic, and a good garden. Little more, or a lot more, if you have the money and desire.

You can generate electricity with cells, wind, or water, guess that leaves a lot of options so work out which you prefer, you might not control water flowing through your land in all locations so watch that, and making tall windmills might not work in some locations.

Paul

Rockytopsis · #3 07/16/13, 05:07 PM

Well if I came into that kind of money, the very first thing I would do is handcuff DH to the bed rail and duct tape his mouth. I would have to as he is Mr. Shopaholic and there would be little left to do hardly anything with.

I know that is not the answer you are looking for, but it is the truth for me.

I love East Tennessee so I guess I would look around here. I would want some pasture, some woods and would like a creek that ran all year to be near the pasture/wooded area.

Small house, nice barn, good garden spot.

Nancy

Homesteader · #4 07/16/13, 05:16 PM

The first thing would be decide on investing. You may want to be able to have income, especially later as you age, cuz some of the homesteading activities could become too hard.

Figure out what you might think you need, then cut that in half, make do with that and use the leftover from that calculation to invest.

MO_cows · #5 07/16/13, 05:26 PM

A big difference in what $200k will buy in different parts of the country. And in the productivity of the land. Also, what sort of "equipment" do you want? Do you already own a good assortment of tools? An appropriate vehicle?

But if I had the $200k saved up, I'd begin tearing our old house down as soon as I finish typing this and call the foundation guy to start on the new one! We have been wanting to build a new house on our property for years but circumstances keep coming up to eat into our savings and delay the project. I hope "life in general" doesn't get in the way of your goals too much.

okiemom · #6 07/16/13, 05:32 PM

here that would buy the land with a small house. income would have to pay for the taxes and insurance. that is with the thought land is a growing asset where machinery is a tax offset.

Andrei · #7 07/16/13, 05:58 PM

$200k would be the incentive to stop working for others and start working for myself.
I have the land and the plans and the knowledge but I lack the time due to the regular job.
Get me the $200 and I will quit.

NamasteMama · #8 07/16/13, 06:14 PM

Quote:

Originally Posted by Homesteader

The first thing would be decide on investing. You may want to be able to have income, especially later as you age, cuz some of the homesteading activities could become too hard.

Figure out what you might think you need, then cut that in half, make do with that and use the leftover from that calculation to invest.

You might as well take the money and go spend it at a Casino. Investing now days is like Russian Roulette.

I would buy a small farm with a small house and then make it as self sufficient as possible.

d'vash · #9 07/16/13, 06:30 PM

There's a 300 acre hobby farm with a restored century home, a small guest house and a barn for $375,000 near me. It will probably sell for 20% less than the asking price, making the purchase price $300,000. $200,000 would amount to 67%, put towards the down payment leaving me with a mortgage of $100,000. At 2.99% interest fixed for 5 years, with a 30 year amortization, my monthly payment would be $420.

Or, then there are 211 vacant acres for $325 per acre ($68,500). I'd need to put a septic system in ($15,000), a well (don't know how much that costs) and electricity (don't know either). From the money that remains, I would build a modest home.

I would move my folks, whom currently live 2000 km away, into my current home where they can be both close to myself and our beautiful beaches.

In terms of what I would grow and raise, it would not be much different than I have now: chickens, ducks, dairy goats, honey bees, horses, LGDs, and lots of fruits and vegetables. As for living completely off-grid - in short - I like my modern conviences.

MichaelZ · #10 07/16/13, 07:01 PM

Before or after taxes? Big difference. With 200K before taxes, paint a big red bullseye on your pocketbook, especially in the state of WI. But assuming after taxes, I think I would want to pay off our very modest home, buy a new car, and maybe get some land. Of course, my wife would have other ideas about the "get land" option.

200K would be gone a lot faster than one may think!

Le Petit Norman · #11 07/16/13, 07:29 PM

I'd get a talk with my manager to confirm that I could work from home and then determine what place I would called home ... with 200K a small home a couple acres a good working truck ... ah the joy of day dreaming

Miss Kay · #12 07/16/13, 08:09 PM

I would invest in land. As they say, they aren't making any more of it. Make sure it is good fertile land, not just pretty. You may want to be off grid but most do not so if you go too far out in no where land, it may not be as good of an investment. Even if you think you will never sell, you must buy with the thought of how well it will sell in the future. You just never know where life will lead you.

rharper · #13 07/16/13, 08:48 PM

Go smaller than you think, and make sure you save enough back to get it into shape.

If you go an spend it all on land/house, then you'll end up living in a ramshackle sty because you can't afford to do anything with it (yes, I'm living this experience right now).

What you can buy with 200k isn't the same as what you can get running with 200k, and the difference is crucial.

suitcase_sally · #14 07/16/13, 08:52 PM

Quote:

Originally Posted by NamasteMama

You might as well take the money and go spend it at a Casino. Investing now days is like Russian Roulette.

Only for the uninformed.

Rose1317 · #15 07/16/13, 09:29 PM

As the old joke goes, I'd farm till it was all gone.

Easterly · #16 07/17/13, 12:46 AM

Buy somewhere with mild winters. better weather = more products. if i was in USA i would try to go west coast. Fairly mild and no hurricanes

**Shrek** · #17 07/17/13, 01:24 AM

What would I would do with $200,000 ? Avoid it and the added tax hassles as I have all that I require and the capability to maintain my lifestyle until I'm dead and broke so there will be no estate battles.

unregistered358895 · #18 07/17/13, 02:21 AM

Were I to have that much money at my disposal, I would buy a lot of land with a basic dwelling, a decent truck, and a dozen chickens. Then, I'd finally take a day off.

sweetmusicj · #19 07/17/13, 04:36 AM

Personally I'd pay off debt and use the rest as a downpayment this house I have my eye on with 18 acres (5 tilled) almost connected to a couple hundred beautiful acres owned by my relatives (parents, grandparents, uncle, cousins). I'd have to rent it out as I'm currently away from home until I got home. The acrage would help off the grid living, but being next to relatives (who are the self sufficient types...not mooches) would also help in a survival situation (if that's what you're going for).

To dream.

Big Dave · #20 07/17/13, 05:09 AM

At 61 I think of my comfort. So your imaginary money in my mind would be to strive toward that. Buy as much land as possible, staying out of debt, with a comfortable home, Good Barn, pipe fence for livestock area, home garden, small orchard, Live creek, stock pond or ponds with live water, good working farm truck. Now to stay off the grid????????? Why I just would not but here goes. Wood burning fireplace in the home, I do use wood to heat our home and this year am buying soap stone to place around my wood burning stove to radiate the heat longer. Would you want to cook with wood? Then you would have to wrangle that idea around. Wood off grid you will need a good saw, splitter and storage to keep it dry. What kind of food preservation? A root cellar would be nice to have. If you want a refrigerator you will need maybe a propane powered one or if you want electric you may want to produce your own power??? Wind, Solar, water powered generators. There again be sure your home has a room for the power circuits, batteries and such you will need to store you energy. Preserving your harvest is another essential. We dehydrate because it does not require us having thawed out food from a freezer problem. Battery back up for your computer so you can get on the forum. These are some of my thoughts on the imaginary money. What would I do if I won the lottery or one of those $5000 a week deals? Well it would be a lot of enjoyable work.