Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I have many questions that I am in need of any advice.
My wife and I of 10 years are tired of living in California and would like to start a new life (Shocker). We have two boys who are very important to us and would like them to experience a life that we think they deserve. Not looking for the high life in Idaho, just a simple life in which we are able to provide for them free of Mexifornia b.s. along with all the laws, traffic, overcrowded schools, etc. Just want them to have a shot at actually being able to live life and respect it rather than just get through it.
Background:
Age:33 Kids:4 & 1
Currently rent for $1200/month/no other debt
Current Cash on hand: $27,000
Current 401k: 33,000
Current annual (cash) savings: $13,000
We (My Wife) has family in Logan, Utah, and Preston, Idaho. Lately we have been talking to her relative in Preston and have received some very good info on land for sale in the area (20k-40k-1-4acres). We just have a lot of questions about ways to go about it.
Questions like:
-Where to start?
-We don't know whether we should buy some land with a house, modular or manufactured already on it?
-Buy land, install septic, drill for well, power,slab (all while living here in CA?) Then save for manufactured or modular after all that is completed?
-Average cost for services? (I know,I know. It all depends, so shoot high.)
-Any good sites you recommend for info?
I am looking for more of a what would you do type of response along with maybe some cost estimates. We are on a strict savings plan with the intent on being able to get out of here. If it takes 5yrs, (hope not) so be it.
I have a manufacturing background (7yrs) with supervisory exp.(5yrs), wife has office (13yrs) and mortgage background (7yrs) (presently in school for accounting). When we move I will be looking to obtain a long haul trucking job in order to make ends meet. Or maybe work in N. Dakota at oil rigs, just make it work.
Any advice, comments, criticism, help, whatever would be greatly appreciated. Sorry for the long post just not sure what's the best way to start or get there?
IMO, with over 12 years of past mortgage & financial services experience, based on your savings standing, I would stick with purchasing a preexisting home or find a builder package "complete" - meaning you are buying the finished product, land included, for a set price. The minute you buy land, you are:
1. stuck with it - much more difficult to sell than a prexisting home in most cases
2. almost guaranteed to have unforseen costs. If you figure on a set amount and then have unexpected costs, it could set you back significantly, to the point of not being able to complete the project which would then result in financial trouble.
3. likely to run through your cash - either you buy with all your cash on hand, or you get a land loan, which usually requires 30% down, and still pulls most of your cash, which leaves you with much less to work with to build or purchase a modular. (Which, go for a modular over manufactured if you are going that route- much better value in the long run). You are better off using the cash you have as a down payment.
If you buy land and want to start the septic, etc...doing that from out of state can be very difficult. Plus, if you aren't there to check on things, you can really get taken for a ride.
Good luck, and just as a sidenote, if it were me I probably wouldn't disclose quite so much personal financial info on a public forum. If you find a good realtor/mortgage rep to work with, they should be able to run through all of these scenarios with you and give you good direction on how to move forward.
Lately we have been talking to her relative in Preston and have received some very good info on land for sale in the area (20k-40k-1-4acres). We just have a lot of questions about ways to go about it.
Questions like:
-Where to start?
-We don't know whether we should buy some land with a house, modular or manufactured already on it?
-Buy land, install septic, drill for well, power,slab (all while living here in CA?) Then save for manufactured or modular after all that is completed?
-Average cost for services? (I know,I know. It all depends, so shoot high.)
-Any good sites you recommend for info?
ATVwife has good advice for you. The market being the way it is, you should be able to find a preexisting home for a reasonable price, and buying bare land comes with its own set of problems. However, I'd strongly suggest that you don't buy anything until you have secured jobs; plan on renting for the first 6 months or so, to get a sense of the area. Chances are that the low real estate prices will last well into 2013.
That being said, keep an open mind about the acreage w. home vs. bare land options. We bought 5 acres three years ago and we're building a cabin, while living in SoCal, and yes, there are difficulties, but if you have found the perfect spot for your home, at a good price, after having done all the appropriate research, then of course it can be done. You need to take into account that the perking/septic permit has a time limit, and so does the site location (building) permit. It all has to be timed right so you don't lose money. But if you can travel there and spend time while the work is being done, then things can fall into place.
Where to start? Educate yourself by going online and looking at properties on Zillow or realtor.com. Hundreds of them, with and without homes. Read between the lines and get used to the weasel words and real estate terminology so you can give your future realtor a list with criteria, and sound like you know what you're talking about . You may find that a local company can build you a kit home which beats a manufactured home, in price and value. Also, you'll be educating yourself about power, wells, septic etc, as some properties may already have all that in place. Think about how far you're willing to drive down a dirt/mud road in winter and spring to get to your house. Think about how far you're willing to be from the nearest market/neighbors/hospital. So by the time you have a job lined up, you will know exactly what you're looking for.
Then take a vacation in Preston or Logan, or wherever you decide on looking, and check properties out for yourself--and inquire about jobs in person. You can only do so much long-distance.
Don't be discouraged or overly concerned--this is a great time for you! Doing the research is fun, as well as profitable. Investing your time in the future of your family. Good luck!
Last edited by Clark Fork Fantast; 02-11-2012 at 11:57 PM..
it all depends on what kind of lifestyle you really desire. Logan is most likely better for finding a job, but life in the Preston area is very rural and laid back.
There won't be many jobs available in the Preston area, but the Interstate is right there. Pocatello is about an hour or less away to the north, and Logan is about the same to the south. There is more urbanity in Utah than Idaho, but the pay in Utah is generally better.
I have a friend who lives near Preston, and he has commuted to Utah since he moved up from there. He and some of his buddies rent a motel and live in Utah during the week, and comes home on the weekends. This worked out to be the cheapest for him, but isn't a situation I think would work well if a family has young children.
I think it would be similar if you were to find work in N. Dakota, except that the housing problem is really tough there. You may be able to find an Idaho long-haul job in Pocatello or Idaho Falls, which is about 1 1/2 hours north of Preston. I don't know anything about office jobs for the lady of the family.
I have to agree with going with an established home first, if you can rent month to month that would be ideal while you're looking and getting a feel for things. As for driving truck OTR, do you already have a CDL or would you be need to obtain one after you've arrived? I can give you the information you would be needing for either trucking school or if you're already licensed some of the companies around as my husband has driven truck for over 35 years
If your wife has clerical, mortgage already under her belt and is seeking a degree in accounting that will be an asset as her career is portable.
Driving truck over the road is something that needs to be a family decision (same goes for working the oil rigs) as you're gong to miss out on many things. There will be times when your wife feels like she's up against all on her own because you won't be there to be hands on and you'll hear about it, I promise LOL She might to mean to rip into you, but it can happen if for a moment. She's going to be dealing with raising a family, working out of the home and dealing with everything both inside and outside while you're gone. Just trying to put a little perspective out there for you.
Thank you everyone for all the great advice and comments. Very helpful!
About the OTR----I am not licensed and I am not sure if I am going to get it here or wait? I would love to get some names of companies so I can look into it, if possible. Maybe one that I can train here and transfer up there if it's a possibility.
Just looking for options and advice from people who have already went through the same kind of thing.
If anyone knows a good realtor or company or any sites that they could recommend, please let us know.
Location: Approximately 50 miles from Missoula MT/38 yrs full time after 4 yrs part time
2,308 posts, read 4,123,568 times
Reputation: 5025
My comments and opinions are inserted below in (Dark Red)
Quote:
Originally Posted by johnny32379
i have many questions that i am in need of any advice.
My wife and i of 10 years are tired of living in california and would like to start a new life (shocker). We have two boys who are very important to us and would like them to experience a life that we think they deserve. Not looking for the high life in >>idaho , just a simple life ..........................Over the last 40 years I traveled all over Idaho & Utah (my job).........I would choose Idaho over Utah "in-a-heart-beat"..........again just my humble opinion!!!
We (my wife) has family in logan, utah, and preston, idaho. Lately we have been talking to her relative in preston and have received some very good info on land for sale in the area (20k-40k-1-4acres). We just have a lot of questions about ways to go about it.
I have a manufacturing background (7yrs) with supervisory exp.(5yrs), wife has office (13yrs) and mortgage background (7yrs) (presently in school for accounting). When we move i will be looking to obtain a long haul trucking job in order to make ends meet. Or maybe work in n. Dakota at oil rigs, just make it work.............why would you want to change the type of job you are familiar with???............considering "where you are in life": Wife... young kids...happily married and no experience in LHT or "oil field Work"...............I think that would be a big mistake....just mho.
................
.....................I also would suggest you strongly consider looking for an existing home on a piece of land that suits you and your desires (be it in-town;...on the edge of town;....or a few miles out of town.)....dont forget you are just a year or two away from the kids starting school)......................Considering the current housing market, you couldn't find "a better-time than now" (and the next 12 months) to buy an existing home.......................And why not consider locations like: Boise,...CDL,....Idaho Falls etc, etc. ...........
And last but important..............depending on what religious affiliation you may have................you and your family may "fit in" better" in an area or neighborhood that is not predominately of "one religious leaning"
With your manufacturing background, you could consider Lewiston, ID. Most people prefer C'dA or the Boise areas, I myself prefer the quieter life. Schweitzer Engineering built a brand-new manufacturing facility in Lewiston, and according to the Automated Manufacturing Technology instructor at Lewis-Clark State College, actually added jobs during the recession. Also, they can't seem to hire enough people in the area.
The weather is mild and we're generally quiet home people with 4 kids. I've had friends in the Boise area who were not LDS but felt the religion was being shoved down their throats in Southern Idaho. Housing in Lewiston is not as cheap nor nice as the Boise area, but there are still some good deals to be found. Short trip for camping, hunting and fishing. A few hours away in Elk City, ID I met a 14 year-old boy who told me all the kids there "run wild" in the summer... "riding bikes, fishing, 4x4ing.." WOW... I don't think they even know what kids everywhere else do when THEY run wild.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
. You may find that a local company can build you a kit home which beats a manufactured home, in price and value. Also, you'll be educating yourself about power, wells, septic etc, as some properties may already have all that in place. Think about how far you're willing to drive down a dirt/mud road in winter and spring to get to your house. Think about how far you're willing to be from the nearest market/neighbors/hospital. So by the time you have a job lined up, you will know exactly what you're looking for.
Thanks all
