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Updated 10 months ago,
100+ acres of forested land in Central VT - options
A few years ago I bought 100+ acres just outside of Montpelier, VT (5 minutes from downtown). At the time, I had no kids and had just sold a couple of my first self-done flips in the southwest, and was really ambitious about building a homestead somewhere green. Since then, I've had a baby and now am pregnant with my second and I miss my extended family, so I'm considering selling the land and moving home but I want to be smart about it.
I'm looking at marketability, value opinions per forested acreage for the area, and whether this kind of property is selling in the area lately or if we're better off holding it for a while. The land is mostly forested with a year-round stream running through it - it's beautiful and private and was largely unaffected by the recent floods as it sits high up and consists of large hills. However, it utilizes a private road easement which is shared with one other neighbor not counting the servient tenement. When utilizing the land, at its best, it ensures it stays very private and we have good relationships with our neighbors, but it definitely limits some activities if for no other reason than not wanting to piss them off. I'm not sure how this setup would be received by someone wanting to build a home.
Since we purchased it, we brought power back to the property currently set up as 2 RV hookups and additional outlets on a backer board (for a total of 200-amp service), had an RV pad and driveway put in, and had the developed year-round spring well brought back online - there will be a pump house built near the backer board this Spring (1st photo). We also removed a caved-in logging cabin and decrepit shed. The green markers are the old septic, there is no permit on file for that. This RV area is located on one end of the property where a mobile home used to be and is right off of the private road, but that area is very narrow and awkward so building there wasn't the goal.
The reason we bought the property is that there is an 8-acre clearing at the peak of one hill which is where we planned to build the future homesite as it has an amazing view and a nice, mostly flat area (see second picture for a bit of the view). The entire property has pretty minimal timber value as it was selectively logged about 5 years ago (hence the hilltop clearing). My husband hunts on the property, lots of wildlife - deer, bear, turkey etc. We are in talks to enroll in Current Use but don't know how this might affect marketability for a sale.
If a hilltop home was a potential purchaser's goal these are some estimates we got for professional work:
Getting power to the hilltop will cost about 50-60k according to the local power company. 66k for overhead lines, 52k for buried (not including trenching).
$3600 for a septic permit & design
about 50k for sitework (very long driveway), though foresters have noted the potential for NRCS funding for road improvement and invasive species management (i.e. clearing the 8-acre area which has blackberry bushes galore) which we are in the very early stages of looking into.
Any input or advice from experts in Vermont real estate in regards to value and marketability would be greatly appreciated.