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Buying Raw Land
Choosing a place to settle down and buy land has been a very difficult decision for us. We have almost bought land in California and Oregon and have looked at hundreds of plots all over the country anywhere form 20 acres to .5 acres. Finding a place to settle down and call home can be a very difficult decision for van lifers and nomads. After being on the road for nearly seven years living the #vanlife we finally were able to find a slice of property to call home in New Mexico.
After looking at hundreds of lots we have been able to narrow down some criteria that is important to consider when looking for your future home. Here are a few criteria that we needed ignorer to finally pull the trigger.
Access - So many of the properties we have looked into buying had either terrible access or now access. Keep in mind that building a road is going to be a big cost that will add up development cost. Depending on how long the road is or how steep it is we have had quotes come in anywhere form $50k - $10k at a few properties we really wanted to buy. With this property we were lucky to have an existing road on the property that leads right up to the property and it was one of the only properties we had looked at that we were able to drive one almost instantly and start working without having to have an access road built.
Power - Running power to a property can be extremely expensive. Before we found this lot we were looking at another property and had to bail because the power was estimated at $25K to bring in from the nearest transformer. On our property we were quoted at $2k for a line extension because there was already and existing transformer at the top of the property and we would only need to pay for excess footage for the line to get ran underground to our property. So check with the power company to see what would need to be done. Some properties will be more expensive because they have overhead power ready to go and sometimes the power company will not charge you if the run is less than 100ft from overhead lines.
Water - Water is easily the most tricky of the criteria. Raw land with a well in place will cost a lot more that raw land with now well. Out property didn’t have a well but we asked around to surrounding neighbors to see wha their water situation was. A few of the locals paid for water to be hauled in which costs about $200 for 4,000 gallons. I also asked a few neighbors about the depth of their well and they came in at about 500-700 feet which is pretty deep. However we were looking in more arid regions and the well depths where sometimes up to 2,000 feet! Having water is obviously very important to the future of your homestead but the the option of hauling water for now and drilling later that seems to be the most economical option for us at the moment.
Covenants and Restrictions - Almost any land you buy will have some sort of covenants and restrictions. Unfortunately at some point back in the day people brought a lot of land thinking that someday it will become a subdivision and will need covenants and rules to keep everybody’s house values high. They didn’t want a bunch of riffraff coming in and building shanty towns. While I usually don’t agree with CCRs and Covenants I do understand the point. Once you put in an offer he title company will dig u the Zoning codes, CCRs, restrictions and covenants. It is your job to do the due diligence and make sure everything is ok and what you want to accomplish on the property is going to be ok with the covenants that are currently in place. For us they were pretty loose the only thing that was annoying was square foot minimums for the house at 1500 sf with is big enough. I know on past properties we wanted to build a tiny house and the covenants/restrictions wouldn’t allow it.
Neighbors - Get a vibe on the surrounding neighbors. This sounds like an awkward task but most people out in the country will come out and talk to you if you are walking around looking at land. We almost always come across somebody that wants to give us an ear beating about the happening of the area. They will most likely give you more information than you need and will give you a good idea of what to expect life is like int hat area. On this property the neighbors couldn’t have been better. From day one they were extremely helpful and even walked the property showing us where all the stakes were form the last survey. They also gave us great insights to water, power, roads, and even a good price to ask for the plot. So don’t be shy. I thank my neighbors for letting me know about the property owner and they helped us save about $10k on the asking price.
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