My wife and I have found an acreage which is right outside the city limits. We’ve always thought about this but just never found the right place. We love the location and the land, but won’t be ready to build for at least another 5 years. Our kids are currently 4, 2, and 1 so living on an acreage now doesn’t make much sense to either of us. My question is whether this is a smart move. All of the acreages around this one have existing homes so there won’t be anymore bare land sold in this area. The price isn’t great but you can’t beat the location.
I’m currently trying to get some more details on the cost of getting a well and electricity on the site. We’d like to do this sooner rather than later as there is an existing 33 x 40 pole barn on the land. Our plan would be to use the barn for storage and in a couple of years move my basement shop into the building. After this is all setup begin the house construction.
Let me know your thoughts on owning some land and just sitting on it for a few years. The only holding costs on the land will be the taxes. At this point our positive and negatives list is pretty one sided to the positive.