bryan wrote: ↑Thu Apr 13, 2017 4:20 pm
latest pics inspired me to have another look for crappy lots (urban or more forested) within biking distance to some social nexus...
@halfmoon, did you already mention how much the land cost, or how much it is worth now? I've day-dreamed about doing stuff like this in Oregon but ultimately I can't see myself being too far from a real city. Maybe if it were a seasonal thing..
@bryan, distance to a social nexus is key along with employment opportunities (obviously related), climate and a number of other factors. The 40 acres cost us $18,000. Building the house was another $12,000 for a total cost of $30,000...excluding the subsequently-built structures and our own years of self-imposed 'free' labor. Actually, it's hard to decide if our labor was a cost or an asset (Jacob? need help here) because we gained strength, knowledge, satisfaction and self confidence with everything we did.
Your second question is timely; we're finally facing the need to sell the property because we can't keep up with it any more. What is it worth now? Obviously, the worth to us is immeasurable. We viewed the isolation and heavy snowfall as positive factors when we lived there, but our standards were unique. Determining what it will sell for is another matter entirely.
I'm pretty sure there would be more opportunities for cheap land in Oregon than the Bay Area, but insanely good deals are probably hard to find anywhere. Investors, flippers and RE agents are pretty tuned in to every opportunity. DH was showing me an ad for "cheap" real estate ($2k/acre) in Tennessee, so I googled the state minimum wage just for fun: $7.25/hour. Makes that real estate look a little less cheap.
*Edited to correct the addition of $18,000 and $12,000. I originally came up with $20,000, which is just embarrassing for an accountant.