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A Farm of My Own:  Land Pricing?  |
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ModernishHomemaker
True Blue Farmgirl
58 Posts
Amy
Colorado
USA
58 Posts |
 Posted - May 22 2012 : 4:51:26 PM
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Hey All,
I'm a young(ish) single girl and looking to begin saving to buy some land of my own (don't want to wait until I get married - though if/when I do, I'm sure a second person's contributions will definitely help!) and am wondering what sort of bench mark I should set for myself. I'd love to have 5-15 acres for a small house and a small farm with a vegetable garden, chicken coop and a couple sheep.
Does that sounds like enough land - those that have bought?
How much has that much land cost where you live? (I know it varies by water supply, etc.)
Did you buy virgin land? Land with an existing farmstead?
I'd love details from others who have had to start from scratch (as opposed to inheriting land)!
THANKS!
I'm just a 20-something girl making a home for me (and my dog) and waiting for the family to fill it!
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"A home is made of love and dreams"
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modernishhomemaker.blogspot.com |
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queenmushroom
True Blue Farmgirl
985 Posts
Lorena
Centerville
Me
USA
985 Posts |
Posted - May 22 2012 : 5:59:22 PM
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Can't help you with Colorado prices. One thing you need to consider is that if you purchase land with no house or developed lot or city hook ups, you will have to have a well and septic dug. Here in maine, that runs about 10-15K plus your site developing, permits and contractors before your house is even built. So if you pay roughly $30K for 10 acres here in Maine undeveloped, you're looking at an additional 20-25K at least depending on the type of property and what you want done. If I were single and wanting a house of my own, esp in colorado where farming is much bigger than it is here in Maine, I'd look for a place that is looking for a part time farm hand. Maybe exchange payroll for living on the property rent free in small house that maybe situated on the property. You could get your elbows greasey in the farming end of it without the commitment of actually owning the house. They may, if they're good people, let you have your own small garden or something.
Patience is worth a bushel of brains...from a chinese fortune cookie |
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Melina
True Blue Farmgirl
435 Posts
Melina
USA
435 Posts |
Posted - May 23 2012 : 12:09:35 PM
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If you buy in CO, be sure to get full disclosure on your water rights. Water is becoming a huge issue here and people who buy land often find they cannot drill a well on it.
The morning breeze has secrets to tell you. Do not go back to sleep.
Rumi |
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Dusky Beauty
True Blue Farmgirl
1108 Posts
Jen
Tonopah
AZ
USA
1108 Posts |
Posted - May 26 2012 : 9:45:00 PM
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Amy, have a look around sites like United Country and Landsofamerica.com -- as for me I won't look at anything I can't live in. It must be livable, have working sewer/plumbing electric, water.
With the things people are doing to unattended lands these days (I hear of things like logging theft ALL the time) I don't want to risk not living on the land I own. DH and I are looking in the Ozarks the most seriously because there is a lot of quality land still available reasonably. Our budget allows MAYBE 1 or 2 acres in most states... but the same purchasing power and income gets us 10x that in the southern midwest... More if we want to go even more rural.
~*~ http://silverstarfamilyfarm.blogspot.com/ ~*~
“When I stand before God at the end of my life, I would hope that I would not have a single bit of talent left, and could say, 'I used everything you gave me.”
~Erma Bombeck |
Edited by - Dusky Beauty on May 26 2012 9:47:13 PM |
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FARMALLChick
True Blue Farmgirl
978 Posts
Lora
Alexandria
IN
USA
978 Posts |
Posted - May 29 2012 : 08:24:32 AM
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My husband and I bought our farm from a couple retiring to Florida. We got a house, garage, barn, 2 sheds and 18 acres for under $170,000 here in Indiana. We also have a creek that runs through, but it's dry during the summer. If we ever have to start again, I would definitely get property that has some improvements. Like everyone else has advised - know your water, logging and mineral rights. There are several properties here in Indiana that butt up against gravel pits and when they (gravel pits) want to expand, you lose land. Also check out property taxes. Here in Indiana - legislators are wanting to tax ag land 17% vs regular residential and businesses at 1-3%. We have taken measures to make sure our land is not considered ag anymore.
We changed all the tillable acreage over to Classified Forest. It's a government program, but we can plant fruit trees and put our bee hives back there. To me it's a win-win.
Lora
"Courage is being scared to death and saddling up anyway" -John Wayne
www.CountryFriedAcres.etsy.com
www.farmallchick.blogspot.com
www.farmallchickphotos.blogspot.com |
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ModernishHomemaker
True Blue Farmgirl
58 Posts
Amy
Colorado
USA
58 Posts |
Posted - Jun 11 2012 : 5:38:44 PM
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Thanks for all the tips and info!
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I'm just a 20-something girl making a home for me (and my dog) and waiting for the family to fill it!
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modernishhomemaker.blogspot.com
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outdooramy.blogspot.com |
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JerseyGirl
True Blue Farmgirl
181 Posts
Michele
Southern NJ
USA
181 Posts |
Posted - Jun 29 2012 : 03:28:46 AM
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I have to say that here in NJ land and definately a farm are for the wealthy. Property taxes and real estate are practically unattainable. We still keep our eyes open, since there are a ton of foreclosed properties here...but then good luck selling your house for what you'd like to get for it!
I don't know about real estate in Colorado, only that my sister just got back from there and says it's just breathtaking! Good luck finding your piece of Heaven! |
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YakLady
True Blue Farmgirl
652 Posts
Natalie
Montana
USA
652 Posts |
Posted - Jun 29 2012 : 09:15:07 AM
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Amy- That's a really good idea! What I recommend, look for foreclosure properties. There have been MANY in our area (MT- generally pretty expensive) that were priced so reasonably we actually considered picking them up, and regret not doing so. Don't call a Realtor while you're just looking- Go to EVERY place you think might fit the bill of your dream place. Check it for environmental factors- are there trees? Is it windy? How much snow does the place get? How much of the land is usable? Also check and see how much work the house will take to fix up if it needs it.
Check the zoning of the property AND nearby properties. You don't want to live next door to a battery chicken farm or a hog farm even though all your paper will show is that you're able to have your sheep! Best to check it out (and smell it out!) yourself.
Also, if you're in city limits, you may be subject to other restrictions. Consider where you buy carefully so you'll always be happy with it :)
And good luck! This is a big step, and it's certainly a buyer's market.
~Natalie~ Just a farmgirl in Western Montana. http://mtnme.blogspot.com
Starting a family and raising Tibetan Yaks, Highland cattle, Laying hens, Muscovy ducks, Silver Fox rabbits, and a few dogs. |
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houligan19
Farmgirl in Training
39 Posts
sarah
groton
CT
39 Posts |
Posted - Jun 29 2012 : 5:18:55 PM
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I have been looking to buy land in Vermont for a while now. I am findin gmany options for around $1000 per acre for lots from 10-40 or so acres. I am hoping to just buy a piece of land and build everything up from there. We did run into a small issue though. Mortgages for land are expensive. The offers I was getting were for 7% with 25% down or 6% with 35% down. This meant for us that we are going to wait and save up so that we can pay cash. This also slightly changed what we were looking for. Just something to check out while you are still deciding exactly what you want.
http://earthhomevt.blogspot.com/ |
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Breahna
Farmgirl at Heart
4 Posts
Breahna
Broadus
Montana
USA
4 Posts |
Posted - Jul 05 2012 : 11:48:38 AM
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I am in a somewhat similar boat as you, I am a single mom in my late twenties and am looking into buying a place of my own (for some reason the tall, dark, handsome, charming rancher is taking his own sweet time showing up lol). My family does have a working ranch but not a large enough one to support more than my parents, so while I am able to live in the country and have a few of my animals and it is a great help with my son to be close to my family, I would like something of my own. I have done a fair bit of research in to options in my area (southeastern Montana) and I'm sure some of it would apply to your area also.
First of most traditional financing is going to require at least 30% down, however depending on your business plan (you need a three option one for banks to take you seriously) you may be able to get additional assitance thru FSA, Northwest Farm Credit services (not sure NWFCS reaches as far as Colorado but should) which both have Young Ag. Producer programs. Also my local Farm Bureau has been really helpful both from an education stand point and a socialization opportunity, (look into their Young Farmer's & Rancher's branch, I am the chairperson for my counties and this group has afforded me a lot of opportunities). Another possible thing to look into is a consultant, not sure your budget here and they can be expensive but if you looking long range development might well be worth it as they can not only help you develop your business plan but also help you locate land to check into and help you find financing, the one I am familiar with bases his prices off of when and if he finds you workable financing.
Best of luck, I know you will find something that will be a great home when the family comes along. |
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LouisvilleMom
True Blue Farmgirl
246 Posts
Kathryn
Louisville
KY
USA
246 Posts |
Posted - Jul 06 2012 : 2:54:07 PM
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The county where we purchased is the wealthiest county in KY (I cringe writing that). We could have chosen another county but we have been in the area for 10 years and have been looking for land for 8. Our kids friends are all here, dh works downtown, etc. Anyway we paid $139,000 for 7.3 acres with a new 3700 sq ft barn, huge creek in the back and dead end road. This was a steal in our area. We could sell it for nearly twice that tomorrow. We are now building. If we had bought across the river in Indiana it would have been more land for much less money but we are well established and in love with our land!
SAHM mom to four great boys.
http://ksfarnsworth.blogspot.com/ |
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LouisvilleMom
True Blue Farmgirl
246 Posts
Kathryn
Louisville
KY
USA
246 Posts |
Posted - Jul 06 2012 : 3:03:08 PM
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BTW look constantly! We found our land by cold calling someone. It was never on the open market. Best of luck!
SAHM mom to four great boys.
http://ksfarnsworth.blogspot.com/ |
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YakLady
True Blue Farmgirl
652 Posts
Natalie
Montana
USA
652 Posts |
Posted - Jul 06 2012 : 8:54:42 PM
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I forgot the single most important environmental factor- WATER. Make sure there is ample water on your property and find an artesian well if at all possible :)
~Natalie~ Just a farmgirl in Western Montana. http://mtnme.blogspot.com
Starting a family and raising Tibetan Yaks, Highland cattle, Laying hens, Muscovy ducks, Silver Fox rabbits, and a few dogs. |
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A Farm of My Own: Land Pricing? |
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Land Pricing?
