RE: How would you spend it?
 

To be honest, there's a lot that you can do. Cabins are cheap - and if you can find one with property that abuts a national forest or game land, it's almost as if you've "bought 5000 acres for the price of 1." It only takes 10K or so to start a deer camp tradition - that's something that defines you, I think. Since you have no heirs, it seems that your deer camp would be something that YOU could start, with YOUR friends, and enjoyit with them- in a group enterprise - and leave itto go down the line, and stay within the chain of title of your closest friends. Something that will live on long after you're gone.

If you live out in the boons, 1/2 Mil will generally buy you an awfully nice piece of heaven. You don't need an extravagant home, since there's just the 2 (3 counting the dog) of you. As in anything else, the best solution is usually in the middle-ground.

Considerations: You've gotta consider your wife, since most men predecease their wives. If something would happen, you wouldn't want to leave her with a house that she couldn't manage, in a location that is unsuitable for a lone widow, or with a property that she doesn't enjoy.

I know some of this sounds a little morbid - but when you're planning long-term, you have to thing long-term.

Also, since your real property will likely be yourpersonal savings account and biggest asset - you shouldapproach it with that in mind, and key onfeatures that are likely to provide the highest return on your initial investment. I.E. - try to get a property with natural gas rights. Look at the timber potential. Isitzoned right? If you need to "cash out" a few thousand $$, will you easily be able to subdivide a chunk tosell to a home builderand get good value for it.

Think about your will. Who will you be leaving your assets behind to? What do you want to leave THEM, if something should happen to you.

Just things to think about.

RE: How would you spend it?
 

Can't I just spend it all on booze and wild women[8D]

RE: How would you spend it?
 

Big land, small house and huge pole barn.

RE: How would you spend it?
 

i would think that having land and a investment for there future would be better then a big costly house that will loss value over time.

i like your thinking but a big house with granite counter tops and hardwood floors may not be the best thing for the kids.

I know when i was a kid i would have gave anything to have alot of land to play on

RE: How would you spend it?
 

I would build a modest house and put more money into buying up some land.

RE: How would you spend it?
 

to quote tony soprano buy land god ant making any more of it

Investing is a good thing but there is no better investment then land you do not pay taxes on it risk losing it because a dumb investment

RE: How would you spend it?
 

We will be spending ours on enough house to live in the way we want andenough land to work (hunt, farm, privacy)the way we want.

RE: How would you spend it?
 

[/align]
[blockquote]Atlasman,

I'm trying to do the same thing on half the budget. We pretty much decided on 45 acres and we are going to build our dream "cabin/house" so we can hunt right out the back door. But I'm also that guy thats 3 years out of College.[/blockquote]

RE: How would you spend it?
 

sounds good to me i see no point in buying land and then buying a house somewhere else

more taxs more insurance
I also do no think you need hundreds of acres to have a good place to hunt

RE: How would you spend it?
 

[/blockquote]



Where??.........man, I just looked at a few houses that were $400,000 range and they only had 5-9 acres of land. Nice houses for sure with a view that would knock your socks off but hardly any land. I then started asking about land and got prices ranging from $2,000-$10,000 per acre........people around here are starting to move into the secluded areas........these people have money and the farmers know it. To aquire cheap land $1,000/acre I would have to get out in the sticks which we really don't want..........private yes, boondocks, no.

RE: How would you spend it?
 

Today's Boondocks are tomorrows private area's.

RE: How would you spend it?
 

I would purchase around 200 acres of property and section it off into 1 acre lots and sell them out to create a nice housing development :D Well, a new truck, something like a Toyota Tacoma, a nice mid-size house, and the rest would probablly go into the bank for the future!

RE: How would you spend it?
 

I would pay off the house I already have. Then buy some land on a river bottom.

RE: How would you spend it?
 

hey best hunting is in the doondocks

RE: How would you spend it?
 

Atlas,

I'd buy as big a piece as you can get with no house. Use select cutting to create open huntable areas while you learn the lay of the land and figure out where you want to put your house. Then use the money from the select cutting to build the house. While you're cutting and hunting you'll be paying very little in tax.

Tom

RE: How would you spend it?
 

Look at my buddy Fran being so selfless! One of the many reasons I like this guy!

RE: How would you spend it?
 

In addition to these good points that Fran mentions what about proximity to medical services,shopping,entertainment/cultural things,airports,your families.
Atlasman,you are in an enviable position,through your own hard work and planning I am sure.In converstaion with your wife determining the rank of particular priorities and then move forward.
I wish you good luck! I hope it all comes together in a way that is much better than you could ever have imagined!
About that Steuben County lease thing,if that is serious I may have an interest in participating.

RE: How would you spend it?
 

[/align]
[blockquote]Atlasman

We are in the western edge of Albany county. Boondocks yet 20 min to Albany. We looked for a while. Land is definitely going up. The only way we can afford to have what we want is to build it ourselves. We looked at a couple houses that werent large (1600-2200sq ft) that had 10-20 acres and the going price was $300k-$400k. Granted sweat equity is worth something but we hope to be done around $250k. Most land here is between 4k-10k an acre. There isn't much around 2k unless it isn't buildable. We had been looking at the 20 acre range and then stumbled upon this 45.52 acre peice that was in our range. Things happen for a reason I guess. And I may have the best future wife in the world that is able to see our dream through all of the trees. It helps that she is really likeing hunting also. Now we just need Rob (PABowyer) to move his house north for us. [/blockquote]

RE: How would you spend it?
 

Maybe I wasn't super clear..........$500,000 is my max budget. I don't HAVE $500,000 in my hands (far from it). ;)

That is what we can afford the payments on and still have some left over to live a decent life.


If I had 500K in my account I would buy the Lakoski farm..........on one condition ;)

RE: How would you spend it?
 

Land never depreciates, houses do. Buy a modest house in decent shape and spend the rest on a quality piece of property. Just remember that quality resells faster and at a higher return than quantity.

RE: How would you spend it?
 

I already have the house i want and the location, so forget the house and buy tons of land :D

RE: How would you spend it?
 

Land, land and more land......They won't make any more it you know.;)

I'd probably try to find a decent home, maybe something that needs a little fixing up or updating to keep the cost down somewhat. If your handy this can save you tons of money at the purchase as well as down the road with repairs and upgrades.Ideally, it would be situated on at least 100-200 acres. You can get away with less acreage if your property butts up against public hunting land. With that you can enjoy all the wildlife of the big forest (including hunting on it if you feel like it) and also have private land to hunt.

Good luck with your search and let us know what you end up with.

RE: How would you spend it?
 

i'd buy the biggest piece of land I could afford, pay cash... finance ahome..

I'd bring out a handfull of good fellas from right here on HNIevery year that have spent their entire life hunting their asses off on not so favoreable ground and say boys.. go get em its all yours!