best way to buy land?
12-16-2007, 04:17 PM
#12
Join Date: Nov 2007
Posts: 8
RE: best way to buy land?
As fast as maine is getting developed its nice to see you can still get land for under $1,000/acre.
http://northernmainerealty.com/listings/listingview.php?listingID=70
http://northernmainerealty.com/listings/listingview.php?listingID=70
12-17-2007, 08:35 AM
#13
Thread Starter
Join Date: Jul 2007
Location: michigan
Posts: 68
RE: best way to buy land?
can i ask you guys something do you have to be a millionair to say buy 120 to 160 acres I mean when I get out of college I sould make good money like 75,000 a year is that enough to buy some land
12-17-2007, 08:51 AM
#14
Typical Buck
Join Date: Aug 2004
Location: Columbus, Ohio
Posts: 702
RE: best way to buy land?
Wow... If you are making 75K out of college that is pretty amazing... I made half that 5-years back and I had a Master's Degree!
Consider yourself lucky!
Anyway, I am lucky enough to have "family" money, my parents basically purchased my 100-acres for me. I told them it was a good investment!
Consider yourself lucky!
Anyway, I am lucky enough to have "family" money, my parents basically purchased my 100-acres for me. I told them it was a good investment!
12-17-2007, 08:51 AM
#15
Spike
Join Date: Dec 2007
Posts: 46
RE: best way to buy land?
I'd also like to know if you can afford 100-120 acres on an average salary. I would like that and a nice little cabin so I can get away on some nice hunting trips.
antlerking fan 09, just out of curiousity, what will you be doing right out of college that pulls 75 grand, thats pretty impressive?
antlerking fan 09, just out of curiousity, what will you be doing right out of college that pulls 75 grand, thats pretty impressive?
12-17-2007, 08:54 AM
#16
Typical Buck
Join Date: Aug 2004
Location: Columbus, Ohio
Posts: 702
RE: best way to buy land?
I should also add there are some major road blocks in purchasing vacant land.
Loans can be very difficult to get, most want 25%+ down...
You guys might want to consider getting a hunting group together and purcase the land.
You could also consider hunting leases... They can be had for sometimes between $10 and $25 dollars an acre per year.
Loans can be very difficult to get, most want 25%+ down...
You guys might want to consider getting a hunting group together and purcase the land.
You could also consider hunting leases... They can be had for sometimes between $10 and $25 dollars an acre per year.
12-17-2007, 10:41 AM
#17
Nontypical Buck
Join Date: Feb 2003
Location: Blanchester Ohio USA
Posts: 1,269
RE: best way to buy land?
Newguy23,
Did I mention your my new best friend. LOL
I think you could afforda peice of ground if you really make that money. It not hard to figure out what a payment would be. But remember you have to live someplace too. Figure all that in and figure that land will likely be a 10 year loan with 25% down. If your able get a fixed rate. Likely you won't be able. Even if you do make 75k out of college you credit isn't going to be the greatest most likely. All that adds in.
The hunting lease may be a good idea too. I'd love to find some around here. Also don't forget that the right smaller peice of property may be a good hunting spot as well. I'd love to have a nice wooded 25 acre piece. Ahh one day.
Did I mention your my new best friend. LOL
I think you could afforda peice of ground if you really make that money. It not hard to figure out what a payment would be. But remember you have to live someplace too. Figure all that in and figure that land will likely be a 10 year loan with 25% down. If your able get a fixed rate. Likely you won't be able. Even if you do make 75k out of college you credit isn't going to be the greatest most likely. All that adds in.
The hunting lease may be a good idea too. I'd love to find some around here. Also don't forget that the right smaller peice of property may be a good hunting spot as well. I'd love to have a nice wooded 25 acre piece. Ahh one day.
12-17-2007, 02:03 PM
#18
Fork Horn
Join Date: Oct 2006
Location: Upstate NY
Posts: 267
RE: best way to buy land?
We are in the process of buying land now. We are buying 29 acres with the intent to build a housein the next couple years. We have to put 10% down and have to start building within 3 years and refiniance into a construction loan. Its not all that hard but definitely nerve racking. As most others have stated, not many people comming out of college making 75k with a 4 year degree.
12-17-2007, 02:25 PM
#19
Nontypical Buck
Join Date: Nov 2005
Location: Illinois
Posts: 1,482
RE: best way to buy land?
Cheap hunting land is getting harder and harder to find, but check out auctions - especially when a mining company is auctioning off land.
My family (along with another family) was fortunate enough to pick up 60 acres in 2002 for $725 an acre from a coal company that was auctioning off parcels. (this is in Eastern Ohio) I think it went so cheap because at first glance it doesn't seem like much - half of it is reclaimed strip mine land and there's a lot of marshland as well. But we actually went out there and stomped around a lot of the parcels that were up for sale before the auction. This parcel actually seemed to have the most promising hunting possibilities, and I think we were right.
Since we bought the land, our 2 families have averaged 6-8 deer and 2-3 turkeys taken each year. We routinely see 15-20 deer a day when out hunting. Don't just look at the aeiral or satellite maps - go out and get your boots dirty to see what the land holds for yourself.
My family (along with another family) was fortunate enough to pick up 60 acres in 2002 for $725 an acre from a coal company that was auctioning off parcels. (this is in Eastern Ohio) I think it went so cheap because at first glance it doesn't seem like much - half of it is reclaimed strip mine land and there's a lot of marshland as well. But we actually went out there and stomped around a lot of the parcels that were up for sale before the auction. This parcel actually seemed to have the most promising hunting possibilities, and I think we were right.
Since we bought the land, our 2 families have averaged 6-8 deer and 2-3 turkeys taken each year. We routinely see 15-20 deer a day when out hunting. Don't just look at the aeiral or satellite maps - go out and get your boots dirty to see what the land holds for yourself.
12-17-2007, 03:46 PM
#20
Nontypical Buck
Join Date: Dec 2006
Location: Lubbock, Texas
Posts: 1,401
RE: best way to buy land?
One place to start is - http://www.landsofamerica.com/america/searchforlandbymap.cfm
You click on the state you are interested in and then the county within that state. They list several different types of properties but have a emphasis on vacant land. Sometimes you can find a realtor on that site that has other properties that are listed that aren't on the lands of america site.
As far as an average guy being able to afford to buy land, it comes down to priorities. Instead of the $6,000 ATV, that's a land payment. Instead of a new pickup, keep driving the old junker and put that $500/mo toward a land payment. Most of the Federal Land Bank systems only require a 15% down payment but that is still a chunk of change and the only way to get there is by saving.
I would love to have 500 - 600 acres, but I couldn't afford that so I went ahead and put the down payment on 160 acres and at least have my foot in the door. After I get this paid off maybe I can trade up to 320 acres by selling the 160 acres I have to use for the down payment. Maybe my neighbor sells his land and I get first crack at it. Unless you start saving, you won't ever be able to afford to buy land.
You click on the state you are interested in and then the county within that state. They list several different types of properties but have a emphasis on vacant land. Sometimes you can find a realtor on that site that has other properties that are listed that aren't on the lands of america site.
As far as an average guy being able to afford to buy land, it comes down to priorities. Instead of the $6,000 ATV, that's a land payment. Instead of a new pickup, keep driving the old junker and put that $500/mo toward a land payment. Most of the Federal Land Bank systems only require a 15% down payment but that is still a chunk of change and the only way to get there is by saving.
I would love to have 500 - 600 acres, but I couldn't afford that so I went ahead and put the down payment on 160 acres and at least have my foot in the door. After I get this paid off maybe I can trade up to 320 acres by selling the 160 acres I have to use for the down payment. Maybe my neighbor sells his land and I get first crack at it. Unless you start saving, you won't ever be able to afford to buy land.