advice needed for land purchase

[hiknapster]

I wouldn't jump at anything. There is a glut of land for sale right now. Once the fall comes around, expect the prices to drop.

[Robbied]

Originally Posted by hiknapster

I wouldn't jump at anything. There is a glut of land for sale right now. Once the fall comes around, expect the prices to drop.

It is a good idea to view prospective land in different seasons or at least to see photos of the land you are interested in. The beautiful fall leaves will get you every time. What does it look like in the dead of winter when it is dreary and all the leaves are off. What do you see down the road or in back of you etc.
What does it look like in the summer when the trees are full? Just a suggestion to pick a few places and look at them more than once.

[kdmartin]

I was in Maryville last week and found 2, 5 acre lots, level building spots, mountain view, 10,000 an acre within 10 miles of city limit, great schools, but wow just found out closing costs threw the costs up more than I can afford with 15% down, and they wont finance them in with the loan, does anyone know what closing costs should be on 5 acres? or where to check for land loans that will finance closing costs in

by the way I wanted a stream and mounatin view but I ws told that on a mountain you get the view or live in a valley for a stream/creek, you cant have both?!

[kdmartin]

Originally Posted by BULLARD

If your interested in family activities you don't necessarily have to have 10 acres....have you considered buying a smaller lot near state owned public land. One thing Tn doesn't have a shortage of is: state parks, natural areas, wild life mgmt areas, national recreation areas, etc.

They range from a few hundred acres to over 100,000 acres (Big South Fork Ntl Rec Area), and many offer year round classes and coordinated activities for all ages... spelunking (sp?), rock climbing, white water rafting, horseback riding, hiking.... you name it. Some have ampitheaters with weekly folk music, others rent canoes, etc.

You could afford to spend more per acre...get less acreage .... but live near or next to one of Tn's many public lands.

The 5 acres we found face the wildlife refuse/mountainside for $10,000 an acre, no stream, and has limited restrictions, in other words allow modular homes, does that make the land hold less value? if we build do you think we would overbuild if there are modular homes in this location?

[nkvette]

I recently purchased land in Mcminn Co. and was shocked to find out how low the closing costs were. The land is vacant and unimproved, and I did not finance, but it was VERY minimal. I currently live in FL and for a residence it is very high 4k and up, so I was pleasantly surprised! Good luck to you, it takes a while to find the right land for what you want.

NKVETTE