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So now that we have the ball rolling on actually SELLING our house (and we finally have a showing!), we are browsing a bit for houses in our area that we would like to buy. However, many of the houses we are looking at are in rural locations as we have just relocated to a rural area. How do you price these homes? Especially if they have larger plots of land? My realtor up here tells me that land is worth $3-$5k / acre but I consistently see plots priced below that.
For example, how much do you think this place is worth?
The house,as you already know, is a disaster. An orchard start-up is lots of labor, lots of money and won't produce anything saleable for at least five - seven years. That is, if it takes.
In the mean time you've got to hope you can find a local farmer who will hay all those open fields for you unless you plan on somehow doing it yourself. You don't need all that land for an orchard.
Maybe you could keep looking and find an established orchard to buy. Also, contact your local agricultural extension service, and get their opinion,if soil conditions/ weather conditions are apple orchard suitable. Good luck
thanks willow wind. We are looking forward to starting an orchard and understand the start up costs and the length of time that it takes to become profitable. We have done a lot of research and actually have hired an apple orchard specialist to advise us.
I am more worried about the house and the condition there. It might be better to buy raw land and go from there. Thats' why I think this has been sitting on the market so long, I would guess? It's way cheaper to buy raw land and build something small ourselves. We would want the discount on this property to reflect the headache and work involved. Considering that, what do you think it would be worth? My theory is that I wouldn't pay for than 300k for it.
I have no idea what it is worth as it's way out of area for me. However, I'd look at the house as a tear down so to me it has no value . Just a pain in the neck and costly to demolish and remove.
Maybe you could try to find similar size parcels of vacant, partly open farm land and compare those parcels to this one.
I see nothing in the photos to indicate this is a tear down. Yes there are going to be a lot of 'fix-it' issues, but I would guess that you could have a very nice historic house with a new, functional kitchen and new drywall/ceilings for under $50,000. What matters more is whether you are comfortable having stewardship of 125 acres. As for price, you need to factor in whether the community is growing or shrinking. If growing it may creep up in value, if shrinking it may not be worth all of your expenditures.
I see tear down- I'd need to do siding, windows, roof, walls, plumbing, electrical, bathrooms, insulation, flooring, heating/cooling system, probably well & septic, plus some sort of driveway. All for a home of no historic importance.
Easier to build new or find something in better shape.
We are going to look at it on Thursday so I will let you know how bad/good shape it is in. We have found other plots of land that are 50 acres, which would be enough for our orchard, but priced at $100k, so I'm not sure I'm inclined to spend all that extra money for the extra land plus a fixer upper. We will see.
for that price, there should be properties with orchards already going
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