Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 3 years ago, 01/12/2022
Vacant Land issues for a newbie
Hi, I'm nearing buying some land. My issue is the costs beyond the price. Will the property continue having someone else's horses on them? If not, will taxes still be low or AG-zoned? Also, when you're getting up in acreage, does the property have to be Mowed every month? At what point do you Not mow it?
I'm looking to buy site unseen (just pictures) because I live far away (hundreds of miles) where I work. I don't see myself moving for another 10 years, then I could retire.
My main goal is to park my money or to diversify my assets. I have zero stocks, bonds, 401k, IRA, but do dabble in the new "currencies" if you know what I mean.
I believe everything is going down and have been waiting for over a year (when I exited the stock market completely in Dec 2020). I have precious metals. I just don't believe in this phony economy/stock market (when small businesses are being put out of business in droves?).
I am wanting to have just taxes on acreage from afar. Do you have other maintenance that you have to worry about like paying someone to mow? It could be several hundred $ to mow the whole thing Every month. It's rural, not close to any big town, but don't want to upset the neighbors. I suspect that the property is family-owned but parceled off and sold for quite a bit less over 2 years ago (maybe to another family member?). So I may be the sucker paying almost double, but to be honest it was the cheapest I could find where I'm looking. I've researched for hours and/or days. I am extremely picky too, considering multiple upon multiple factors even in regards to things such as average wind-speed.
Where I currently live, prices are sooo ridiculous, I have to look out of state. I can't even buy a bigger home where I want near me because every time I go to look (not even Buy) it gets bought and Bought at like 20% more than listed which I am not willing to do. I know it's people from California and New York and the like ran-into-the-ground departures coming here.
I cannot make enough monthly wages to keep up with rising property prices here, and I do not trust the stock market.
Thanks