Tips for buying some land?

JustAnotherSquid

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Hey all, KK and I are looking at buying some land. We are looking for something that could be a place to build our last home, or if not then at least be a decent investment for a while. Our thinking is currently something like this, but none of these are hard rules and we'd violate any of them for the right piece of land:
  • 2-20 acres
  • $0-50K
  • Somewhere towards the mountains or in the mountains
  • A hilly piece of land, maybe with a pond or stream flowing through it
  • In NC
We are also considering buying a condo in the Banner Elk area and using it as a VRBO property that we can also use ourselves, but it will likely be one or the other and not both.

I know at least three of you have bought land before and we've never done or seriously looked at doing anything like this so if anyone of you have any tips or advice we'd love to hear it. Could be anything from places to look to gotchas to look out for to best practices in buying.
 

bmart

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If you're referring to us...you may have given us too much credit.

I do not believe that one can take a traditional loan on undeveloped land anymore. That is a shame at these interest rates.

Building right now would be insane due to the high costs of materials.

Zillow is a good place to start, but there are likely other avenues to find such land opportunities.

Living in the middle of nowhere isn't likely going to be too great as we age. Lack of food options, medical care (and quality), etc. We may not ever build on our land, despite the romantic appeal.

20180707_115206_resized.jpg

What are you trying to uncover?
 

JustAnotherSquid

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Yes I was counting you as one of the three. That's a nice view you've got.

Not trying to uncover anything in particular - but when you don't know what you don't know any place is a good place to start. :) It will be a cash purchase unless we buy a condo in which case we'd mortgage it - and we are definitely not looking to build yet. We could, but like you said it's a horrible time to and we're not in a rush.
 

mikek

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Sep 2, 2006
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I have 31 acres, 4 miles north of collettsville. Off hwy 90. 2k elevation all wooded. 1.5 mile dirt road around property. 30x 40 shed, water collection system, septic tank, deck and 32 ft camper. Someday we should go there. We have considered selling. $150 K.
 

bmart

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We've got 12 acres just off of Lake Rhodhiss. Beautiful area. Not as snowy as the mountain and no Charlotte traffic. Good restaurants are another story...
 

JustAnotherSquid

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I have 31 acres, 4 miles north of collettsville. Off hwy 90. 2k elevation all wooded. 1.5 mile dirt road around property. 30x 40 shed, water collection system, septic tank, deck and 32 ft camper. Someday we should go there. We have considered selling. $150 K.

That sounds like a beautiful property! We would love to see it some time. But we probably are not potential buyers as that is more than we want to spend.
 

JustAnotherSquid

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We've got 12 acres just off of Lake Rhodhiss. Beautiful area. Not as snowy as the mountain and no Charlotte traffic. Good restaurants are another story...

It's funny you mention restaurants because one thing that is very important to us is good grocery stores, and those are pretty rare once you get out of the city.
 

bmart

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