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Saving up for 'someday.'

1K views 7 replies 7 participants last post by  TedH71 
#1 ·
My husband and I are currently renting an apartment from my parents here in Idaho. We are only paying $500 in rent- so we are using this opportunity to save money, pay off debt, and get things we need. My parents have 1 acre, and a chicken coop. We brought our chickens, goats and dogs over from our old home and have been working on fixing up their property- cleaning up old brush, landscaping, and fixing fences. It's really nice, we can satisfy our "homesteading" wants for now, but we want to buy a property and home of our own.

The housing market in Idaho has gone out of control. Anything decent with land is easily $300k+ , not to mention subdivisions are going up everywhere- we can't help but think even if we ever did buy a little piece of land would it eventually become obstructed by a ton of housings being thrown up next to it within a few years. Nothing around here sounds appealing. Neither my husband and I want to settle for a overpriced subdivision home as we would hate to be so close to others and we would be giving up so much.

Anyone else holding out for a while to see what the market is going to do, or is it best to find a home now? We have always loved Oregon, and I feel like their are more affordable rural options. But honestly it kind of feels like throwing a dart at a map. Everything feels pretty impossible right now. What would you do?
 
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#2 ·
What worked for us but that doesn't mean it will work for you. The one thing I can say, is when you see it you'll know it.

You've raised legitimate concerns so even if you find "the one" do your homework. You also don't want an easement going through your property if it can be helped. If you don't have much acreage that came take up a chunk. And if utility companies or fire fighters need access they will cut fences and ignore coming to the gates.
 
#3 ·
Think jobs! Wherever you land, you will need to work. Very few people can sustain a homestead without working.
Think building codes, animal codes etc. when you look. There's much more involved than "I think it's a pretty area".
Make a list, pare it down to what you won't live without and go from there. Meanwhile, save, save, save!
 
#4 ·
You could look at the 7 acres in Texas that I am making available to a young, aspiring homesteading family. No big cash outlay needed and you would have 7 acres, barn, outbuildings, chicken coop, tractor & implements to get you started - for the cost of taxes and insurance. See my post under Real Estate, it’s called Homestead Start-Up Offer.
 
#5 ·
Land prices and development in some areas of the country are just crazy ridiculous.
Sounds to me like you are in one of those places, and the long and short of it is that unless you have a ton of FU money, setting up a nice little homestead or hobby farm is cost prohibitive.

Just as well accept this fact and start looking elsewhere, or settle on something affordable that will likely be very small.

You could easily acquire 50 acres with a liveable house for that $300k price range in many parts of the country.
 
#6 ·
From what I'm reading, the housing market may take a dive due to the C-19 virus. Be patient.
 
#7 ·
The #1 thing I recommend is an independent source of water. We have a well (with solar to power it), a handpump well - ok, it is a lot of work and not a lot of water but it works, a spring-fed pond and access to the Shenandoah River. That requirement should screen out the vast majority of properties.
 
#8 ·
My brother has some acreage with a newly built house that is solar powered and on well water (I think) in Idaho Falls. He is planning to sell and move in less than 2 years. He would probably sell it reasonably.
 
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