How To Purchase Raw Land
This blog will give you a loose framework to start your land purchase journey. Every piece of land and every situation is different. Please do not quote me on these guestimate prices; do your own research in your area for vendors. This subject is vast but possible, and I encourage you to work with someone like myself who specializes in land purchases. For example, how and why do you see yourself on raw land. Do you plan to make this a home and a business, such as short-term rentals? Lastly, the staple things to look out for when on your land search and understanding building infrastructure.
Alrighty, why do you desire to live on a swath of land outside of cookie-cutter neighborhoods? Are you looking for a mountain view, a stream, or your own hiking trails? Would you like more peace and quiet away from the over-stimulating city? These are all questions to ask yourself while starting your journey. Now, all those beautiful reasons can be a sweet dream until you realize that these things require you to drive more, and you probably aren't going to get that morning coffee that you look forward to every day. Now, it's not impossible to get coffee and socialize from a coffee shop if you are lucky and find a little piece of land near a town like Marshall or Mars Hill, NC. However, even being near a small town doesn't guarantee the city won't grow and get overstimulating like the one you are trying to escape; I digress.
So, let's talk about running a business with your land. Businesses that do well in rural areas are homesteads, farms, vacation rentals, wedding venues, music festival venues, and intentional communities. These are all great ways to help your business pay for your living situation and be a wild entrepreneur. These businesses all require a specific type of zoning, and the first thing we need to look at is where your ideas are welcome in these rural communities. Zoning is essential because some communities do not allow vacation rentals or agriculture businesses, and some have noise ordinances. These zoning conflicts could greatly hinder your future life and business in the country.
The most important part about living in the mountains, country, or on raw land is the infrastructure. We, humans, require electricity, clean running water, a driveway to get to the homesite, and wastewater infrastructure, Not to mention a safe, dry home to live in. How do you get these essential things on raw land? First, we will do our homework when we find a property we like because not all acres are created equal. A parcel of land could have 16 acres, and only 2 acres are usable to build on and farm. It would help if you had a driveway and a place you think is suitable for a foundation for your home. During the due diligence period(homework phase while under contract), getting some quotes on a driveway and having a builder come out to look and consult about the buildout and homesite is best. For electricity, the farther away you are from the road or other homes that already have power can cost more, or you will need to be on the side of the mountain where you get enough sun to install solar when the roof gets done (you need electricity to build a house before the roof gets done). For clean water, you will most likely be on a well. Digging a well does NOT guarantee you will hit water; that means you must pay the well drilling company by the foot to dig a well. This means you need a budget for a well and a prayer! I will say anywhere from $13,000 to 50,000 for drilling a well. I realize it isn't easy to budget for this but believe me, you would rather be under budget than over budget.
Regarding wastewater, you will likely be on a septic tank, which gets pumped every 3-5 years, for around $100. A perc test during your due diligence period(homework phase, while under contract) will show us if and where you can install the septic. The size of your home will depend on the cost of the septic. A guestimate for a 3-bedroom cost to install a septic system is anywhere from $3,000 to 20,000. All that being said, this is why some people opt to buy in an already established neighborhood where the builder has put some of this infrastructure into place for you, so if you want a community where you have a few acres and some of this work done for you, you with some peace and quiet, it exists, and I can help you find it.
Many more things could be considered when purchasing land, which is why working with a realtor specializing in land purchases is essential. Having support while moving through the process of creating a new life for yourself is extremely important because you would hate to get into a position where you already spent a lot of money on certain parts of the land and realize you need to sell. I have a list of pointers for you to start with on your land acquisition. Please reach out if you have any questions or want some consulting around this subject, and most importantly, don't give up. You deserve to have the life you dream of, and you never know where dreams will take you!
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