More land

[dooleysm]

I'll echo what alot of guys have said so far. I had the chance to buy 4 acres down the hill from our 10 when we were in the middle of building our house. We didn't have alot of extra money at the time and I didn't have the time to think about it and I let it go. Now there is a double wide there with junk cars parked along the shared road and all kinds of junk littering the property. The owner has yet to chip in anything for the upkeep of the shared road.

There's another 2 acre chunk up the hill from me with a double wide that's been abandoned for about 18 months now that is going up in the sheriff's sale next month. I'm going to do my best to obtain that property.

 

[ToadHill]

It can get contagious. I started with 2.5 acres then SWMBO wanted to build a pond and make sure no one built on the piece next to us so I bought another 4.7 acres. I then SWMBO decided I needed to square off the piece we owned so I bought another 17.5 acres to do that. Well the neighbor was getting rid of his land as he retired and after all my kids played in the woods behind me so I bought that 63 acres.

God I hope no one near me wants to get rid of any more land.

 

[MarkV]

It can get contagious. I started with 2.5 acres then SWMBO wanted to build a pond and make sure no one built on the piece next to us so I bought another 4.7 acres. I then SWMBO decided I needed to square off the piece we owned so I bought another 17.5 acres to do that. Well the neighbor was getting rid of his land as he retired and after all my kids played in the woods behind me so I bought that 63 acres.

God I hope no one near me wants to get rid of any more land.

I hear ya' ToadHill, I have everything I need yet I sure would not want that acre, I can see in the winter only, to be changed. It is part of 10 acres I don't need, I'll buy it for the 1 acre if it was going to change hands.

Your right, it can be contagious.

MarkV

 

[robb01]

I kick myself daily for not buying the 40 acres that bordered my land when it was for sale

 

[dave1949]

It can get contagious. I started with 2.5 acres then SWMBO wanted to build a pond and make sure no one built on the piece next to us so I bought another 4.7 acres. I then SWMBO decided I needed to square off the piece we owned so I bought another 17.5 acres to do that. Well the neighbor was getting rid of his land as he retired and after all my kids played in the woods behind me so I bought that 63 acres.

God I hope no one near me wants to get rid of any more land.

That sounds about right The good thing about your situation is they are probably all separately deeded parcels - if somebody could ever pry a few acres out of your dead cold fingers

Land can be a reasonable long-term investment in the right situation. I think having control over what surrounds you is worth a good bit. If you add up the annual property taxes and opportunity cost (what you could have earned on the money spent to buy the land) it's not likely to be a big financial winner unless you are on the edge of a growing metropolitan area. Land can also lose value based upon what happens around you, a new landfill within a half mile, a highway expansion/relocation or powerline corridor, for example. In that case, the more you own, the more you lose.
Dave.

 

[MossRoad]

I have about 3 acres, and like everyone else, wish I had more. I agree with the comments about just letting the ground go. About half of my ground is in woods, and I have been trying to get it cleared out so I can mow it. I think it looks better that way, but its a lot of work and I'm in no hurry to do it. There is nothing wrong with just letting some of it sit.

As far as prices go, in this area they are VERY high. 20 years ago rough ground that couldn't be farmed went for less than $1000 per acre, often $200-300 per acre. Now it is not uncommon to hear about it selling for $3000-$5000 per acre. A lot of this has to do with the hunting in this area, which is known for having a lot of big deer. It is very common for farm ground to sell in the $7000 per acre range now. Who is to say where prices are going, but the trend in this area is always higher.

Ground always has some value, but you might want to look at it from an investment point of view. What are the taxes? Can you get any income from it? Would it make good ground for you horses? And the biggest reason, how bad do you want it?

Around here the unfarmable land is going for top dollar for housing. They finally found a market for all of those woods in the hills and valleys that they couldn't plant on.

 

[dave1949]

Around here the unfarmable land is going for top dollar for housing. They finally found a market for all of those woods in the hills and valleys that they couldn't plant on.

Even now - in the recession?
Dave.

 

[rdln]

Absolutely, If had the decision between a new truck and add'l bordering land I would pick the land.

Land doesnt rust away.

You guys are funny, dont you think somebody out there considers your place an eyesore?

 

[MossRoad]

Even now - in the recession?
Dave.

Especially now... the old farmers are getting out, their kids don't want to farm, so they are cashing in their land to large developers who will hold onto it until things turn around. Due to local laws regarding the preservation of farmland, all a farmer has to do is show that they are farming all of their farmable land and they get the green light to sell off the hills and valleys.

 

[bc realtor]

we are at $24000/ acre. buy it while you can.

 

[dave1949]

Especially now... the old farmers are getting out, their kids don't want to farm, so they are cashing in their land to large developers who will hold onto it until things turn around. Due to local laws regarding the preservation of farmland, all a farmer has to do is show that they are farming all of their farmable land and they get the green light to sell off the hills and valleys.

Thanks. That surprises me. Those developers must be pinning their investment hopes on something.
Dave.

 

[Benbovac]

We are also in the process of buying land from a neighbor, but at $30,000/acre I can't buy as much as I would like to. I am just wanting to buy enough to keep anyone from building near us.

 

[framer]

I have 6 acres also. Started with two.No animals,small garden,barn.
lots of mowing. Sometimes i regret buying more but enjoy a buffer zone between neighbor.No more land for me closing in on 60. Good luck

 

[Slacker]

You can buy non plantable non perking land near me for less than $2000 an acre.
I've got 25 acres and that's enough for now. Most of it wooded and it'll stay that way if I have anything to do with it.

 

[dave1949]

You can buy non plantable non perking land near me for less than $2000 an acre.
I've got 25 acres and that's enough for now. Most of it wooded and it'll stay that way if I have anything to do with it.

Same around here Slacker. For larger parcels, closer to $1K/acre. I am a bit taken aback by some of the land prices posted.

Of course, there are no jobs to speak of here and a pretty strong out-migration of young adults. If you want to sit around with old people and do not much, but cheaply, come to rural Maine
Dave.

 

[keegs]

Given the real estate market being what it is, if you plan to stay put, this might be as good a time as any.

 

[Slacker]

Same around here Slacker. For larger parcels, closer to $1K/acre. I am a bit taken aback by some of the land prices posted.

Of course, there are no jobs to speak of here and a pretty strong out-migration of young adults. If you want to sit around with old people and do not much, but cheaply, come to rural Maine
Dave.

Ay-uh. I grew up in Somerset co. Maine. High out flux of younger folks is an understatment. I made 18 summers and hit the road, never looked back. No jobs, VERY high taxes and no prospects. The hunting and fishing were great, but few can build a career on catching brook trout.
My parents tell me the real estate/land market is dismal. They also tell me if I want to buy a camp on a lake then now is the time!

 

[bc realtor]

This post got me to thinking that it would be a good time to get some more dirt for the tractor to play on. The chaeapest i could find with usable land that was not just woods or swamp would be about $295000 for five acres. Put a run down old farm house on that and your up to $600 000. I think I'll just help out the freinds now and wait till the kids are older and moved out, before making a move.

 

[two_bit_score]

I kick myself for not trying to buy the 26 acres next to me when it went up for sale. I thought it too high at the time, but it really wasn't. 11 acres now for sale across the road, but the price is outrageous.

So, it's not getting any cheaper is it?

 

[polo1665]

This post got me to thinking that it would be a good time to get some more dirt for the tractor to play on. The chaeapest i could find with usable land that was not just woods or swamp would be about $295000 for five acres. Put a run down old farm house on that and your up to $600 000. I think I'll just help out the freinds now and wait till the kids are older and moved out, before making a move.

You guys must have printing presses to make money up there Must be about the global warming. There must be a rush to buy up property in the north country. In Florida property values are going in the tank. To think, we just paid $2,200/acre for 43 acres here in Ohio a month ago.

Mark