Real estate questions?

[akmetal]

Originally Posted by NomadicBear

Have you checked the cost to drill a new well? Usually they have a price per foot (because they don't know how deep without actually drilling, though they can tell you how deep neighboring wells are). I would definitely talk to well drillers before I ever purchased a property without a well. They know the areas and what to expect insofar as water is concerned. A quart per minute is laughable. I'd not be interested in that. If you can find a property that has a good well in place, that's a bonus, because much money can be wasted when trying to drill a new well. You're ultimately hoping it is successful, but the driller is getting paid regardless. In some places, if they come up dry they will eat the first one, but the second try is on you, however that's not always the case.

Someone mentioned $26,000 per acre for raw land with no well or septic and I find that to be absolutely astronomical. However, I don't quite understand the expensive land prices anywhere. The real costs start when you develop it. The land should be free in many areas, but instead the developers and the government have worked in concert to chisel money from the pockets of anyone who just wants to live on their own little piece of earth.

I own a quarter acre in the valley and the tax assesment is 6500 so that comes out to about 26k an acre. Now thats for land that has road access, flat easy to prep, power drop, internet very near. Basicly everything but well and septic.

If I were to buy something today I would buy it with city water, septic and natural gas. The only exception would be if the land had a phenominal view with no possibility of that view becoming obstructed in the future. And I mean phenominal, not great or pretty good. Unfortunatly good views cost commute time so its a retirement idea for me lol.