Another of those 'what would you do' questions

Discussion in 'Homesteading Questions' started by Deb862, May 29, 2006.

  1. Deb862

    Deb862 Well-Known Member

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    Hi everyone.
    Since I've found that I have generally gotten some great ideas/feedback when I've asked something here, I thought I would post to get some much needed feedback.

    As I think I have posted here before, we are currently looking for a property to purchase here in upstate NY. I work at home but am tied to having either cable or DSL internet (absolutely no dial-up or satellite internet can be used). I make really good money so cannot see giving up this job right now. The problem we seem to be encountering is that most (just about all!) of the more rural properties with acreage we have seen do not have cable or DSL available. Thus, to our thinking, we are down to 3 options:

    1) Purchase a home nearer to town that has cable or DSL now, work and save for about another 3-5 years to buy a more remote property at which time we would have probably enough equity in house-in-town to pay off at least half of the rural property and I could then afford to make less money and not need to be tied to cable or DSL;

    2) Purchase the remote property we want now and also purchase a cheap 2-unit home in the nearest small town so I could "commute" to work and have the tenants pay the mortgage on it for approximately the same 3-5 years until, same as above, I could get by with less income; or

    3) Buy an expensive home at the top of our budget with acreage AND DSL or cable now and live there forever, albeit with a large mortgage, but I would be able to afford the mortgage because I would be able to keep the internet access.

    In our conversations, really all of the above have their pros and cons. We have just gone round and round about this and really cannot decide which is the better way to go. Part of the reason I work at home is because I like working at home :) but both of us really want to get back on some land. The first two options would have us as close to debt-free as we will probably ever get within about 5 yrs, as in either case we would be able to sell 1 property to pay off at least a chunk of the other. We also think that land is not getting any cheaper and are worried that if we wait 3-5 years we may end up not getting what we waited for.

    What would you do? Would you "commute" for land now or wait the 3-5 (probably closer to the later) years as above? Thanks in advance for the advice!
     
  2. insanity

    insanity Well-Known Member

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    Wondering if the dsl or cable company might have a map of there coverage area.So you could look for the most remote property with in there coverage area.Maybe not as remote as you want but maybe something that would make you happy.Or in a direction you hadn't thought about.
     

  3. bostonlesley

    bostonlesley Guest

    Don't "they" have those fancy laptops now which come with some kind of card that negates the need for DSL and can be used anywhere?
     
  4. agmantoo

    agmantoo agmantoo Supporter

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    #3 ...... You will not have the inefficiency of having to commute, the headache of keeping 2 places up or the rent collected. The high property will appreciate greater and when you eventually sell,the profit will be greater.
     
  5. donsgal

    donsgal Nohoa Homestead

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    How is it that you can't use satellite? All you need is a view of the southern sky. Even in a heavily wooded area you should have enough room cleared for your house that will accommodate a satellite dish. Personally, I am in the same boat as you and I am very confident that Wild Blue (NOT DIRECTWAY) will do a fine job of providing me with my very necessary broadband.

    The only other alternative would be to try to interest someone in applying for a grant to install DSL into the area via the "Rural Broadband Initiative".

    You might also check locally to see if there are any Wireless Internet providers out there. If you are within 3 - 5 miles of a router you can get the signal (depending on the terrain).

    donsgal
     
  6. Idahoe

    Idahoe Menagerie More~on

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    The only trouble with satellite broadband is the relatively slow upload speed, usualy only 56kps, while download is usual broadband speed. I suspect you'd be uploading a lot of stuff if you do work with your puter. I'd say it is still worth it, compared to straight dial up.
     
  7. Deb862

    Deb862 Well-Known Member

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    Agmantoo, I have not thought of it that way. Thank you for that bit of advice. It is definitely something for us to talk about. We were just looking at the huge mortgage as a bad thing but it might be a good deal for that 3-5 year timeframe (or at least until we have built enough equity in the home) that we could then sell and move more remotely when I am able.

    Donsgal, eventually I hope to use high-speed satellite internet but unfortunately, right now the company I work for and the account I am on (transcription) does not support satellite internet at all. As all good things eventually come to an end, at some point in the future I could lose the account or have to change companies and at that point I would go for a company/account that supports satellite and move more rurally (hopefully after having built up a nice nest egg via savings and equity in a house). I must find out more about this Rural Broadband initiative. It sounds great!
     
  8. free-2-b-me

    free-2-b-me Well-Known Member

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    Deb862 - Where abouts in Upsatate NY? . We live in Delaware County . There are some pretty big places for sale around here . If you get on the main highway you will be able to get cable . DSL around here is pretty scarce unless you live within a 3 mile radius of the phone office (learned that from the phone repair guy) . I can't get either and the people at the bottom of the road which is 1 mile have cable . We have dish TV here . ~~~~~~~Vickie
     
  9. boxwoods

    boxwoods Well-Known Member

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    Also in Delaware County, Trout Creek Area and I mean in the woods and I have DSL.
     
  10. LagoVistaFarm

    LagoVistaFarm Well-Known Member

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    Some guys pretty high up on the corporate food chain have figured out how to be remote with reliable high end internet. They are installing T1 and T3 connections into a building near a phone switch. They are then bouncing the signal up to a hill or tower in line of site of their property. Once set-up they turned it over to a ISP to sell off wireless internet to others. The only stipulation was that they were given priority bandwidth. After its all said and done they are getting pretty close to a T1 at home in the woods for a few hundred a month.
     
  11. mxwynn

    mxwynn Member

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    I like option #2, but then again, I'm a real estate agent, among other things. :rolleyes:
     
  12. LagoVistaFarm

    LagoVistaFarm Well-Known Member

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    MotoSAT and DataStorm now offer fixed enterprise class satellite internet capability. This is not like Direct TV internet. My buddy runs the data team for a couple of NASCAR teams. They load up the cars and plug them in to upload the data to the tech center. This is high end and considered very critical to them.
     
  13. almostthere

    almostthere Well-Known Member

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    How much would buying a very small house to use as a office take off your profit margin? If it was big enough you could rent out half of the house to another legit business or even a renter; in 3-5 years sell for a profit. Commercial properties always sell for about double (around here) than residential. Right now where I am in IN there's 40 acres of FARMLAND selling for over a million, because when the vehicle plant moved in down the road everything attached to the highway suddenly became Commercial. Everyday renters can be a pain to deal with and commercial renters pay better.
     
  14. RLMS

    RLMS Well-Known Member

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    I have satellite, Directway. I think it has changed to Hughes. Doesn't matter, works just fine. We run our business with it and only encounter problems when the snow mounts up on the dish. Quick spray with the water hose, even when it is COLD, solves it quickly.

    Have the whole place set up with wireless LAN, have several TV's and TiVo running on it also.

    The above applies to both of our places. And they are each quite off the beaten track. Both located in nowhere's--NY and Nevada.

    We moved our NJ operation from the Princeton area to Otsego County, NY spring of 2003 and the move was the right one. In central NJ everything was available, but that wasn't enough reason to stay.

    I would personally prefer to be in Nevada exclusively, but my wife and daughter refuse to live anywhere that there aren't any trees.

    Good luck.
     
  15. Deb862

    Deb862 Well-Known Member

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    free2bme, we are actually looking just about EVERYWHERE in NYS that is rural given that I can move anywhere provided it has the appropriate internet. Unfortunately, we are finding that Delaware and Otsego counties home prices have skyrocketing in the last year or so basically making acreage there unaffordable to us. However, I am still keeping my eye on the market in those areas if something happens to come up.

    As for the idea about a commercial property, DH brought that up the other day but we don't feel we know enough or have enough experience to purchase a commercial property. We have owned a 2-unit house before but the only renter we ever had was DD :) . We were just thinking if we could purchase a cheap 2-family (probably under 90K) in some tiny town we could get anywhere from $400-$600/mo from renters, which would pay a large bulk of the mortgage. Then, any money that I had to pay out to maintain my office would be being paid into something which we could recoup in the end in equity.

    I think someone mentioned T1 also. This is something else we are currently considering, albeit my research has found that it is expensive, to the tune of $450-$500/mo for the service I would need. As it would be tax deductible as an office expense, we have considered it, however, unlike the 2-unit house, the money is "nonrecoupable" in the end. We are still thinking about that though.
     
  16. Ruby

    Ruby Well-Known Member Supporter

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    She said she was doing transcriptions. They (the companies who the transcriptionest work for) don't want the satalite, and wireless connections, because they are too easy to hack into. There is lot of medical or corp. info goes into the transcripts. That is what was explained to me from some of the companies I applied to.
     
  17. Maura

    Maura Well-Known Member Supporter

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    Could you live where you want to, and rent a space somewhere that you can get the kind of connection you need? It would be a tax deductible business expense. I'm sure someone would be willing to rent you a tiny little corner to hook your computer up to.
     
  18. terrythetaod

    terrythetaod Well-Known Member

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  19. turtlehead

    turtlehead Well-Known Member

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    Before you assume you can't get cable or DSL, be sure to ask.

    We live in the *boondocks* and we have DSL. Folks in town can't get it but for some reason it's available to us, 20 miles away.

    Definitely ask.
     
  20. Deb862

    Deb862 Well-Known Member

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    Yeah, actually it is the first thing I ask or found out about because if I don't have that I can't pay my mortgage. Everything is secondary!

    We just looked at DW on 20 beautiful acres for 124K, good deal in my opinion, though it does not have internet that I need. DH really does not like the idea of me having to commute and also having to keep up a 2nd rental property, though. I say I would do it until some day came that I didn't have to anymore. We are still considering our options, though, and are looking at higher priced properties that have acreage and HS internet. Geesh, and I thought finding our "dream" would be easy!