Buying your first property is a big step, and it might be tempting to purchase land that you find online without seeing it first, especially if the price is within your budget. Creating a false sense of urgency.
It’s a typical rookie mistake by being caught up in the moment, with the thrill of owning a homestead property at your fingertips and at such a low price. What could possibly go wrong?
If the price is too good to be true, then it probably is and will more than likely be disappointing when you finally go out to see the property in person.
Buying Homestead Land Without Seeing It First
For instance, the property might be unfit for any homesteading prospects. You might not be able to grow a garden on the land or raise livestock. Just to name a couple, that’s why it’s so important to take a trip and look at property for yourself, rather than buying sight unseen.
It would be a real shame if you spent your hard-earned money on a property not suited for homesteading. Only to find that out after the purchase.
So many problems can arise without first doing your research on the land in question. Sometimes it might be challenging to drive to the location if you are moving from another state.
If that’s the case, it would be a good idea to move closer to the location you want to start your homestead. Perhaps find a place that rents short-term.
That way you can take day trips out where you want to live. Scan the area’s newspapers for listings that you can check out in person. Seeing things firsthand will help determine if the location is ideal for your future homestead.
Another reason for renting first is to check out the area and really decide if this is the place you want to start building your homestead.
You might find out after the move that you don’t even like the area at all. And you might find another place more suited altogether.
Here’s a list of 10 reasons why to never buy property sight unseen.
It might be on the side of a mountain with no building site whatsoever
Flood zone
Too close to the interstate highway
Swampland that isn’t suited for buildings.
Shaded with no garden spot.
It might be out in the middle of nowhere, where the roads all close down in the winter due to heavy snow.
Not have any utilities, and it would be too expensive to run those to the property.
Requires clearing of thorn bushes and brush
It may have had chemical dump at one time.
It might have a giant sinkhole on the land, making the property unusable.
WHY IS THIS PROPERTY FOR SALE?
There are many reasons a person would sell land out in the country. Many times it was a big farm at one time. Big companies come in and buy the land. They then cut all the good timber off of it first.
Then they bust up the land into tiny lots and sell them on a contract to people that can’t afford to buy land. Many times those people can’t pay for it, so it goes back to the company to sell it again and again.
Many of those properties are never fully turned into lovely homes. Usually, a mobile home gets put on the property, and the whole big farm then becomes a low-income area and if you built a lovely house there.
Your property will never be worth much more than what your neighbor’s property is worth. So that’s something to think about when looking into those types of companies.
Remember, if the price is too reasonable, then there’s a reason for it. Take your time making this big investment. And write down some goals you want to achieve with your homestead before buying anything.
Always drive out to see the property in person before you buy it!
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