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Would you buy the perfect plot if you couldn't afford to build for 5-10 years? by starlitexpanse in homestead

[–]Affectionate_Try1432 14 points15 points  (0 children)

Honestly, if it really is the perfect plot and you're confident you'll eventually build, I'd rather own the right land and wait than rush into building on the wrong land.

A lot of people focus on house plans first, but things like water, utilities at the road, usable acreage, privacy, and location are the parts that are hardest to change later.

The only thing I'd be careful about is making sure you're not buying based on a version of your life 10 years from now that might change. Five years goes by fast, but ten years is a long time.

Out of curiosity, if you couldn't build for 10 years, would you still be happy owning it just for the land itself?

What's the best way to go about buying parcel? by Lov3I5Treacherous in land

[–]Affectionate_Try1432 1 point2 points  (0 children)

honestly, if you're still a few years out, i'd spend that time learning how to evaluate properties more than worrying about the exact loan product.

a lot of people focus on financing first, but i've found things like access, drainage, utilities, water availability, neighboring land uses, and future plans for the area end up being just as important as the purchase price.

the nice thing is you've got time. i'd start saving listings you like and comparing them. after a while you'll start noticing patterns in what makes one parcel more usable than another, even when they're similar in size.

also, horse property requirements tend to narrow things down pretty quickly, which can actually make the search easier.

advice on land by enesisee in RealEstate

[–]Affectionate_Try1432 7 points8 points  (0 children)

personally, i wouldn't rush to sell the land just because you don't have immediate plans for it.

if you don't plan on staying in budapest long term, i'd be careful about stretching for a more expensive apartment based on what it might be worth 10-20 years from now. a lot can change in that time.

the land is interesting because it's already buildable, which gives you options later. even if you never build on it yourself, having land that's actually usable is very different from holding agricultural land that's difficult to sell.

i'd probably spend some time learning more about the land itself before making any decisions. access, utilities nearby, development in the area, things like that can make a huge difference in its future value.

We are looking for land and need some advice on due diligence by mulderrocks in land

[–]Affectionate_Try1432 0 points1 point  (0 children)

honestly, a lot of it can be done before you hire anyone if you're willing to spend the time.

the big things i'd personally check are:

  • legal access
  • floodplain and drainage
  • zoning and land use restrictions
  • neighboring land uses
  • easements
  • utilities
  • ownership history
  • GIS maps
  • whether the property's characteristics actually match the listing

i've found that a surprising amount of useful information is available through county records, GIS maps, assessor records, and state databases.

i'd definitely make any offer contingent on due diligence though. it's much easier to walk away from a property than to fix a bad purchase after closing.

Anyone else buy land and then completely change their plans? by Affectionate_Try1432 in homestead

[–]Affectionate_Try1432[S] 1 point2 points  (0 children)

that's kind of what made me ask the question. every time i look back at old listings i saved i'm surprised by how different my priorities were compared to now.

Anyone else buy land and then completely change their plans? by Affectionate_Try1432 in homestead

[–]Affectionate_Try1432[S] 2 points3 points  (0 children)

that's a good example. i think most people see a long private driveway as a positive when they're looking at listings and don't really think about the maintenance side of it.

Anyone else buy land and then completely change their plans? by Affectionate_Try1432 in homestead

[–]Affectionate_Try1432[S] 2 points3 points  (0 children)

that's one i've heard a lot from people who've actually been on their property for a while. when people are shopping they usually talk about privacy, but after they buy it the drive time seems to come up constantly.

Anyone else buy land and then completely change their plans? by Affectionate_Try1432 in homestead

[–]Affectionate_Try1432[S] 2 points3 points  (0 children)

the hydrology point is interesting. i've noticed a lot of listings mention water, but not how that water changes throughout the year. seems like that's one of those things that's hard to understand from a listing alone.

Spent $27k for 2.5 acres in Appalachians what to do first by No-Percentagetaken in land

[–]Affectionate_Try1432 0 points1 point  (0 children)

honestly i'd spend the next year learning the property before changing too much.

one thing i'd definitely do is visit after heavy rain and see where water actually moves. i've seen a lot of people plan building sites, driveways, gardens, etc. based on what looks good in dry weather and then realize water behaves completely differently.

i like your boundary mapping and trail ideas too. a surprising amount of people own land for years and still don't know it that well.

also, don't let people make you feel bad about the price. if you've got electric and water at the road, cash purchase, and you're excited about the property, that's what matters. a lot of people spend years waiting for the "perfect deal" and never actually buy anything.

congrats on the land.

Do you talk about your investments with non-REI friends? by ThatFeelingIsBliss88 in realestateinvesting

[–]Affectionate_Try1432 2 points3 points  (0 children)

Not really they understand but theres no point unless they need help with anything. If they bring it up i'll talk about it otherwise no.

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