Land
Finding the right piece of land that you love and fits your budget is where it all starts. I looked for 8 months to find the right slice and made offers on 4 properties until I found the lot on Little Lick Lake that I finally purchased.
How I found my land was nothing special, it simply took time. I searched MLS daily + Craigslist every so often. I mostly used the Realtor.com app, Zillow, and also local relator MLS listing websites, they often got listings sooner. Along the way I even called and walked a few properties that were unlisted and for sale by owner. My advice likely mirrors common sense: get excited about a place online, visit it in person, and then make sure the development costs fit your budget.
Land that seems too good to be true or is under market value might have some red flags, not always of course, but it’s worth slowing down and checking it all twice. Cheaper land might have rugged access and need thousands to cut a road or require an extremely deep Well.
Beyond MLS listing information I used Google Satellite Maps to better understand a piece, and I paid for ON X maps for easy access cadastral maps, and finally used my local/state’s cadastral maps website to find the formal surveys and check zoning information, flood info, and such. Often MLS listings often do a poor job of showing exactly where the land is located or even not showing exact property boundaries. Long story short: it takes research to confirm a property is even worth seeing before you hop in the car.
I paid $192,000 for my lot that was just shy of 8 aces and includes a lake. My downpayment was $64,500 and build budget is $100,000. After downpayment my land mortgage, that I borrowed from the bank, is $128,000 with a monthly payment of $800. The goal is to then build a simple home entirely with cash. The land downpayment and house build budget was from the proceeds of selling my first home in Nashville.
Here’s my short list of must haves:
Long term protected views. It was important to me that if more development happens nearby my view will remain
A level & flat spot to build my economical house plans
No HOA. Not a deal breaker for all but not a fit for me
No easement access. This isn’t a necessarily a deal breaker, but life is less complicated with your own direct access
Power nearby (see Power section for more detail)
Well water, either already drilled or reasonable to drill (see Well section for more)
Septic approved OR seller willing to grant time for land to be approved (see Septic section for more)
High speed Internet OR in the very least decent LTE cell reception
Excavation cost reasonable. (see that section for more)
Private feeling but not too remote. I wanted to be close to town and not plow 3 miles of snow all winter
Close to my friend community and outdoor recreation I love
Bonus Land Features:
National Forest land as my neighbor. The land that touches my property is National Forest, this is lovely because it limits future development around me, protects my view long term, and provides more peace. Land that borders public land is always a gem in my book
Water access! I certainly was expecting to find property with a lake but it’s a dream
Things I didn’t need to consider:
Schools
Amenities for kids
