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Buying land

okccj

okccj

Well-Known Member
Joined
Oct 11, 2016
Messages
629
I'm considering purchasing a piece of property. What are some of the most important factors to consider/questions to ask?
 
okccj said:
I'm considering purchasing a piece of property. What are some of the most important factors to consider/questions to ask?
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Your neighbors. Depending on how big the land is, there is a good chance you would have to track the deer to another property. So if you don't have neighbors that you can get a long with. There can be problems in the future. Most states has a database with landowner contact info. Try reaching out and get a feel of their personality.
 
I take the number of bad encounters on public land from folks here, and compare it to the number of bad encounters with neighbors on private.

Those two numbers are very close together.

There are way more people in here hunting public than private.



I take that piece of information, current interest rates, the carrying cost of owning real estate the next 10 years versus the cost of “renting” land to hunt in various ways, and ask myself: unless I’m paying cash, and unless the land value is less than 10% of my net worth, why am I considering buying land?
 
kyler1945 said:
I take the number of bad encounters on public land from folks here, and compare it to the number of bad encounters with neighbors on private.

Those two numbers are very close together.

There are way more people in here hunting public than private.



I take that piece of information, current interest rates, the carrying cost of owning real estate the next 10 years versus the cost of “renting” land to hunt in various ways, and ask myself: unless I’m paying cash, and unless the land value is less than 10% of my net worth, why am I considering buying land?
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Cash and less than 10% of net worth.

Interesting. Never had a problem on private land and permission to track off of public would present the same potential hurdles, no?
 
okccj said:
I'm considering purchasing a piece of property. What are some of the most important factors to consider/questions to ask?
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What are your goals? close to home hunting honey hole? couple hour away retreat? do you want to lease pasture/haying/row crops to a local farmer? potential homestead? timber harvest?

with all that being said, my primary factors would be location and value (is it what I want at a price I can afford or is it cheap and I can make it what I want?) neighbors, tax rates, and the way the surrounding land is used will change without your consent so I wouldn't get too hung up on those factors
 
Going off some notes I have on this, maybe some repeat issues

1) Check zoning
2) Land not suitable for well/septic. Look into perc test.
3) Land may be located in a flood plain.
4) Deed restrictions
5) Land improperly split from parent parcel.
6) Land subject to wetlands regulation
7) Failure to receive vacant land disclosure from previous owner
8) Undisclosed environmental hazards
9) Land size/topography unsuitable for home
10) Check with local planners for future development in area
11) Existing oil/gas leases and mineral rights
12) What utilities are available?
 
okccj said:
Cash and less than 10% of net worth.
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Right on!

You can say no. You can always say no.

I’d walk every inch of the property to see if it has exactly what I want.

I’d meet or correspond with every landowner you share a border with. I’d manage my expectations of each (I like em, know they’ll be there a while, or know if I don’t and what to be prepared for).

If you intend on improving the land - I would only trust people who get paid to do improving, not realtors. Get quotes for water, power, sewerage, dirt work for house pad etc. even if you don’t know what you plan to do. Things change.


The single biggest mistake folks make with large life decisions is removing options from the table too soon. With the amount of information available to you today to make good decisions, there’s no reason to do that. From the beginning, assume a 10% additional cost to your purchase for this process(shave 10% from what you’re willing to spend). Use that to do due diligence, knowing you can always say no.

Get as much information as you can about the property completely uncoupled from your decision to buy it. You will drive sellers and realtors nuts. Good. Crazy people make bad decisions sometimes, and sometimes that can help you.

You can always say no. There’s always a better piece of land than what you’re buying at a better price than you’re paying.

Take your time and learn as much as possible. Go as far down the decision tree as possible, using your due diligence budget.

The process will make you streamlined, and allow you to act quickly once that work identifies a piece you want.


Option B, invest that money in an index fund and use 5-10% of it to take yourself hunting somewhere awesome every year. Sorry to keep throwing this out there.

But as a new father who loves to hunt and can’t wait to show my daughter what it’s about, I simply can’t make buying unimproved land with no intention of improving it make sense. I guess I don’t have that “it’s my dirt!” Bone in me.



This only applies if the sole intent of the land is for hunting.

If you fancy yourself a real estate mogul, and have designs on making a good investment, you’re asking the wrong group of folks!
 
Is this just for hunting or do you want to build on it? If you want to build on it, make sure you don't have to spend a ton to get utility access.
Make sure you have legally deeded access to it.
Can you access the property without blowing deer out? Check windrose and prevailing winds for when you want to hunt it.
Check properties around there that have sold recently to make sure you are getting a good deal. If you want to sell later, you make your money when you buy.
Are there income opportunities? Hay, crops, timber, oil, gas, etc.
How is the hunting in the area? Get recent photos and drive around.
Make sure the property lays out the way you want it to or can make it layout in relation to food and cover and your ability to access those without being busted.
1031 exchanges can be good if you can take this property and use it as a stepping stone to get to where you want to be. Don't think this property has to be the the end all, be all if you don't want it to.
 
All great advice and someone alluded to mineral rights….. super important but nobody said anything about the timber (if any). If you play your cards right you can invest n a property that has a sustainable timber harvest program going on already or should have one but if that’s in your plan be sure you know how to value timber and/or ask someone who does know to do a walk through with you. Oftentimes you can leverage the walk through with a future commitment with that particular forester to manage the timber harvest (most take right from the sale so no money up front) or at least commit to the development of a forestry management plan which in some states can give you property tax exemptions upwards of 80%. A good forester will walk the entire property and assess the $4000/ acre or more swaths from the $1000 /acre or less ones giving you a pretty good idea of the average timber value.
 
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Without knowing the purpose for the property, I'd say you already got the high points for sure in the above replies.
 
okccj said:
What do you mean by the surveyors comment?
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Apparently @Glenn has had a bad experience with a surveyor. There are bad ones, just like any profession.

I would strongly recommend that you have any property you buy surveyed by a professional and reputable land surveyor. I have been in the land development/surveying business for 20 years and been a licensed surveyor for 15 years. I have seen way more incidents of people not getting what they think they are buying than I have people getting a raw deal from a surveyor.

I have seen people buy 65 acres that ended up being 20. I have also seen people buy river front property that didn’t have river access. As well as many other things that could have been avoided with a survey.

It will be expensive but, not in comparison to the cost of the land. DO NOT hire the cheapest surveyor. Do you hire the cheapest attorney? Or go to the cheapest doctor? When you hire the cheapest surveyor you get the guys like @Glenn mentioned.
 
GCTerpfan said:
Apparently @Glenn has had a bad experience with a surveyor. There are bad ones, just like any profession.

I would strongly recommend that you have any property you buy surveyed by a professional and reputable land surveyor. I have been in the land development/surveying business for 20 years and been a licensed surveyor for 15 years. I have seen way more incidents of people not getting what they think they are buying than I have people getting a raw deal from a surveyor.

I have seen people buy 65 acres that ended up being 20. I have also seen people buy river front property that didn’t have river access. As well as many other things that could have been avoided with a survey.

It will be expensive but, not in comparison to the cost of the land. DO NOT hire the cheapest surveyor. Do you hire the cheapest attorney? Or go to the cheapest doctor? When you hire the cheapest surveyor you get the guys like @Glenn mentioned.
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I need a sarcasm font it appears.
 
I don't think it was mentioned but look to see if there are any easements. Otherwise, I think most everything else has been covered.

On a side note. Ask yourself what kind of personality you have. If you buy this property and then have constant problems with the neighbors or constant trespassers, etc, ask yourself if the stress of owning the land will be worth having it. If you aren't living on or very near the property you will likely have trespassers and poachers. Will this be something that sends your blood pressure through the roof? If so, try renting some property first. See how you like it. Heck, if possible, see about the possibility to rent the property you are looking at. That way you can test drive it and see if there are problems you just can't live with. If issues like this won't bother you then you are ahead of the game.

For what it will cost to buy the land and improve it and maintain it you could likely go on some nice out of state hunts or get into a decent hunting club and leave the stress to others.
 
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