How much do you need?

[tortoise]

How much $ do you need to buy 20-ish acres and build a modern house (plumbing, heat, A/C, electricity, cable TV), and outbuildings debt-free? Or close to debt-free. A loan is a possibility. A huge mortage is not.

I just got a part-time job. Not paid enough, lol. BUT my fiance pays all the bills, so I can save A LOT of this money. $60,000 (not including interest earned in 10 years.

What do you think? Set aside more $ for savings? I have about $200/mo earmarked for clothes, hobbies, gifts, etc. I have to catch up on clothes shopping, but after that I don't think I will use that much!

I'll still work a little bit on the side to earn my bellydance class and costuming which I didn't want to write into my budget at $70+/month.

 

[Javamama]

Gee, I think that depends on where you want to live. Around my area it would easily be in the half million range just to buy the land. Travel an hour outside the city and it might cut down by half for a property with structures. I have no idea on building costs.

 

[tortoise]

Lots here range for 29,900 to 89,900, and there's a huge mix from 1.5 acres to 60+ acres. Price is not just by size, so it's really frustrating to try to figure it out!

Rural properties with (real) houses are in the $150,000 range.

 

[ksalvagno]

With the cost of materials going up, you may want to find a place with a house already on it. Something that is outdated but in good shape. Also if you go way outside the city, it is usually cheaper but you are looking at long drives to go anywhere.

We just got one of those free real estate magazines to see what prices were in our area. About 5 acres of land is going for around $30k. House prices are all over the place but we saw a place with 30 acres, pond, outbuildings and 2200 sq ft home for 257,700. Pictures of the house show that it is very outdated but all cosmetic stuff.

 

[SKR8PN]

Around here, land alone goes for anywhere from 2-4500 an acre for farm land, and LOTS more if it is in a popular(high end) area.

There is a 100 acre farm right behind me, that the owner had listed for $950,000, but it has two houses, one of them a rental unit, a pond and outbuildings. Needless to say it didn't sell, and the only offer he had was one I made for 2-3 acres right behind my property. I offered him 10,000 an acre for an area that floods every time it rains hard(perfect for a pond!)

He declined to split that corner of it off.

 

[TanksHill]

I think it really depends on where you live and what you want to live in. A stick framed house is going to be much more costly than bringing in a mobile or manufactured/ modular home.

I have been looking around. What I find is by buying a pre existing home you end up much more. Usually you will have outbuildings, fencing, well, septic, power etc... already in place.

This helps so when you move in you will be up and running, not delayed with more expenses or construction cost.

But, it will cost more up front then just a piece of land.

 

[hillfarm]

rural central texas is selling acres for between two and five thousand. And depending on how handy you are you can get a house from 30,000 and up.

 

[Wannabefree]

Our local land is from 2000-5000 an acre. The house and 2 acres across the street just sold last week for 55,000 and that house was built in 98! I know because my in-laws built it. We are in the country about an hour from the larger cities.

 

[noobiechickenlady]

There is a great property in Pearl River area in Mississippi that I have had my eye on. Just dreaming, but 20 acres, house, fencing & outbuildings are going for $120k.

Depending on the property & "frills" prices are running between $1,000 & $2,500 per acre in this state.

 

[FarmerChick]

best you can do is price 20 acres with a newer home in your area

then you get the real truth of what you are facing....and then you can see if your financials can handle it-----and do you need 20 acres?
10 might suit you just as well

sit back and think what you truly need to handle the lifestyle you want....cause property taxes come each year lol and 10 acres is priced less than 20 acres to pay LOL and the bigger the home the more maintenance cost if needed etc etc


good luck on finding what you want!