I will have to apologize for the nature of these posts, they tend to jump around a bit, it’s a work in progress that get interrupted by work, life, and so on.
First off, I wish the the reader to note that I am by no means an expert, in fact one of the main reasons I post this is so that others might learn from what I do wrong, of which I’m sure is going to be plenty.
My approach to buying land has been to try and get the land to choose me rather then the other way around. I take into account the source of water, the type of soil, and other growing conditions that should leave me with a few, rather then lot, of choices. The problem with this approach is the cost involved. I’m not rich, no where near it, and I intend to cover the issue of the cost involved in buying land as I get nearer to actually doing it, real life verses theory that is.
That all being said I was wondering what Junk Land would look like here in the great white north, so I looked up one for an example. The following example was taken from British Columbia only, entire province. (The charts assume no money down.)
– Apr. 8th 2008 www.mls.ca
Price: $25,000 (The cheapest I could find in BC that wasn’t just a lot)
MLS NUMBER: N180445
Real Estate Type : Vacant Land
Land Size : 5.34 ac
Title : Freehold
Location : Burns Lake, BC
Level, treed 5 acre lot with a few grass areas. It is within the Burns Lake Rural Fire Protection area. Fenced with 4 strands of barbed wire. Culvert and access to lot is in place. Zoned H1 for single family dwelling, two family dwelling, agriculture, horticulture, nursery, greenhouse, silvi-culture, kennel and veterinary clinic, home occupation, and buildings and structures accessory to the permitted uses.
Mortgage Costs: (approx.) per month
Minimum Income Needed Compared: (approx.)
Yes, it’s that low, it still surprises the hell out of me that people bought up houses in the sub-prime market. The ideal situation would be to reduce the amount you have to borrow to nothing, and still have enough to get a trailer.
Personally, I’ve gone that root already, will not do it again. There are many problems with this attempt at getting off the grid, the first one being the trailer.
RV Trailers loose value the second they transfer over to a new owner, it’s a bad investment. However, the land itself is a good one, it’s hard to go wrong with buying raw land strictly as an investment, for a homestead, there are many wrong things I think you could do, but at least with raw land you still have what you started with.
The cost of an RV compared to ‘junk land’ is a killing fact as well, even if you buy a crap RV you can’t help but notice that the percentage you pay for the RV compared to the junk land equals more land you could have got. This gets me thinking that buying a cargo container to convert might be a better idea, in Vancouver you can buy one for under a thousand or two near the knight street bridge (that’s all the info you need to find the place).
The problem I see is the actual growing of food, you might get away with certain plants with sandy/clay like soil in a warmer climate, you might think it’s worth the risk to have a questionable source of water, but I can’t see myself risking it. There is also the issue of being able to continue to pay those payments each month, if you can’t pay it outright. Not to mention property tax, etc. Being on land that doesn’t produce at the start, even with a crash crop, there’s no point. But the real reason I wouldn’t buy this property right now is, to f*&% cold up there. Even so, I was surprised to find one property under the $30k mark within BC for 5 acres.
Maybe there is something to this ‘junk land’ after all.