Don't let these guys scare ya off! ha ha I bought my land for around $700 an acre. It all depends on where you are and what's around you. Me, I'm out in the sticks and my house is definitly out of place, hence the low cost. I bought the land from an 80 yr old man that thought he was getting a steal since he hadn't purchased land in forever. He didn't advertise and it was a "through the grapevine" find. The timber alone is worth more than I paid for the property, so who ripped who on the deal?? Tons of cherry. Anyhow the disadvantage??
Well I probably couldn't get as much out of my house if I wanted to sell it than if it were "in town". Whoopie do-da. I'm not planning on selling and it's still appraises for almost 100K more than I have into it.
That being said, there's property selling for 26,000 a 1/4 acre not more than 5 miles from my house. Some guy bought up 100 acres, timbered it to make his money, now he's lotting it off and selling it to "City folk" for a great deal. Sad part is they are buying it. Land is worth what you want to pay for it.... That property 5 miles away doesn't have anything special that mine doesn't. In fact, it's on a heck of grade, I'm sure no spring water (I have 3 springs on my property), and it's already timbered. Another nice thing is I signed a Gas/Oil lease about a year ago and am just waiting for them to drill. 8% profit on both and unlimited natural gas is hard to pass up for letting someone drill on my property.
When you look to buy make sure you are getting what you are paying for. If you are using it to build then ask these questions:
Is there water? If so, is it good. Is there sewage? (big thing in PA) If not what will it cost to put sewage in? Hookups already? What type of gas can you get to the location? Is there timber? What kind of Timber? and most important....will you have neighbors??? h aha The best part about where I live is that my neighbors can't ever get any closer than where they are and they'd need pretty good field glasses to see what I'm doing.
Real Estate is huge money in these parts. I'm always looking for land to do two things. One....I want more land for the kids. Two, just what the other guy did. Lot it off and sell 1/4 acre lots to those Attornies in Metro D.C
for weekend get-a-ways. I'm about to set the hook Fabs, if you're bitin'?