Summary of Reddit Comments on "how to buy land"

Tips for Buying Land:

• Contact a real estate agent: Seek guidance if you have cash to purchase, or to determine the next steps in buying land.
• Consider Down Payments: 50% or more down payment may be required for mortgages on raw land.
• Check Regulations: Investigate land-use regulations, zoning laws, and local building codes.
• Research Utilities: Look into water, electricity, and sewer hookups, which can vary in cost and availability.
• Consider Proximity to Services: Ensure the land is close to amenities and services, or plan for off-grid options.
• Determine Priorities: Set three non-negotiable criteria to narrow down land options based on your preferences.
• Evaluate Development Costs: Estimate costs for well, septic, power, and building to evaluate overall investment.
• Seek Financial Advice: Explore options for land purchase and construction loans, agricultural loans, or seller financing.
• Consult Neighbors and Experts: Talk to locals, real estate professionals, or lawyers to gather insights about the land.
• Research Local Area: Understand the climate, regulations, and other factors that may influence your homesteading goals.
• Consider Future Plans: Plan for potential expansion, development, or changes in land use based on your long-term goals.

Financing Options:

• Construction loans: Consider a construction loan if buying land and building a house.
• Seller Financing: Negotiate seller financing to buy both land and house.
• USDA and FHA Loans: Explore USDA home building loans and FHA loans for properties with up to 10 acres.
• Cash Purchase: If possible, consider buying land in cash to avoid loan complications.
• Invest Early: Land prices tend to increase, so consider buying sooner if feasible despite higher costs.

Location Recommendations:

• Kentucky: Northern Kentucky suggested for a favorable climate, proximity to amenities, and affordability.
• Tennessee: Consider Tennessee for homesteading due to the climate and affordability.
• West Virginia: Wheeling, WV area mentioned as an option for homesteading.
• Michigan: Lower Michigan recommended for a regulated climate due to the Great Lakes influence.

Research Tools and Resources:

• LandSearch.com: Useful website for researching land information, permits, tax values, and more.
• GIS Websites: County GIS websites provide detailed maps and information on land values, sales, permits, and more.

This information can help prospective land buyers make informed decisions and navigate the process effectively, considering factors such as regulations, financing, location, and development costs.