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Old 01-03-2012, 06:07 PM
 
Location: West Hollywood, CA
1,365 posts, read 2,238,168 times
Reputation: 1859

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I'm trying to understand if it'd be better to buy land and build a house from the ground up than to get owned by an overpriced house.
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Old 01-03-2012, 09:25 PM
 
Location: Columbia, California
6,664 posts, read 30,535,693 times
Reputation: 5178
Taxes in CA are based on the price you buy it for.
After you build on vacant land, tax will be based on the value at time of completion.

Best value is to remodel a older home. New home build will demand extra hook up fees on utilities at 10K+/- per. So figure for electriity, sewer, gas, etc,,,,
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Old 01-04-2012, 12:08 PM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,248,135 times
Reputation: 6469
Giving ferretkona a double thumbs up. Go check with the local building agency on how much you would pay in permits etc;
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Old 01-04-2012, 02:01 PM
 
Location: Columbia, California
6,664 posts, read 30,535,693 times
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My folks had to pay $50k for road improvements on a road they do not even use when they built their ranch.
Their holding tank for the well water had a minimum size to accommodate a fire hydrant next to the barn. The end of their driveway had to have enough turning room for the county fire engine. They live in Monterey County.
Sad thing about digging a well you have no idea how the water will taste till drawn. My folks water has borax and gypsum in it and kills many plants. Their neighbor has water Arrowhead pure.
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Old 01-04-2012, 02:15 PM
 
Location: Escondido, CA
1,504 posts, read 6,136,388 times
Reputation: 886
Quote:
Originally Posted by YoungTraveler2011 View Post
I'm trying to understand if it'd be better to buy land and build a house from the ground up than to get owned by an overpriced house.
Very unlikely. Thanks to the housing bust, many houses in California, especially inland (more than 10 miles from the coast), sell below the cost of construction. In other words, it would cost you less to buy an existing house, land, hookups and all, than it would cost to build an identical house if you got the land for free.
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Old 01-05-2012, 12:12 PM
 
Location: West Hollywood, CA
1,365 posts, read 2,238,168 times
Reputation: 1859
Quote:
Originally Posted by ferretkona View Post
Taxes in CA are based on the price you buy it for.
After you build on vacant land, tax will be based on the value at time of completion.

Best value is to remodel a older home. New home build will demand extra hook up fees on utilities at 10K+/- per. So figure for electriity, sewer, gas, etc,,,,
Wait, so you're saying I wouldn't pay any taxes if I bought a vacant lot?? Only after I build something there?
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Old 01-05-2012, 12:37 PM
 
672 posts, read 807,272 times
Reputation: 1225
Quote:
Originally Posted by YoungTraveler2011 View Post
Wait, so you're saying I wouldn't pay any taxes if I bought a vacant lot?? Only after I build something there?
No, he didn't state that. You will be taxed at the value of the raw land until it is reassessed.
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Old 01-05-2012, 12:52 PM
 
Location: West Hollywood, CA
1,365 posts, read 2,238,168 times
Reputation: 1859
Quote:
Originally Posted by Dhult View Post
No, he didn't state that. You will be taxed at the value of the raw land until it is reassessed.
Gotcha.

So how much would I be taxed if I bought a 20k piece of land?
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Old 01-05-2012, 01:05 PM
 
Location: San Diego
50,106 posts, read 46,707,873 times
Reputation: 33948
I think it works like a car. If your bill of sale is way low the State will assign one for you. As in, no one gets out of paying fair market tax.
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Old 01-05-2012, 02:47 PM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,248,135 times
Reputation: 6469
Quote:
Originally Posted by YoungTraveler2011 View Post
Gotcha.

So how much would I be taxed if I bought a 20k piece of land?
1% per year plus any locally voted in taxes (Fire districts, school bonds, etc) You can probably check with the local tax assessor for the specific taxes on any property if you provide them with the tax assessor number.
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