Is the parcel surrounded by other land with ZERO access? No road? No easement? Yes, such a thing exists.
Is the land even build-able? There's a lot of land that isn't. It could be one acre on a cliff wall. Or one acre that is bog water six months of the year. Or one acre that has been destroyed by mining or a meth lab or a leaking oil tank.
And even if the land is build-able now, there isn't any guarantee that it will be a few years from now. Governments have a habit of declaring wetlands or preserves or of allowing only 10% clearing or of charging $500 for a permit to remove one tree.
And then there's utilities. Land is just land. Sometimes it includes utilities, sometimes it doesn't. You might have to do studies and have experts come to write reports so you can apply for a permit to drill a well that might or might not provide year-round potable water. Guess how much that costs? And guess how much a septic permit and installation is? Or will you just have composting toilets? Would the county even allow that? And what about electricity? Will you have it? Do you know how much it costs to bring it in? Phone? Cable? Will you just have a propane tank? Wood stove? There are environmental concerns here...I'm assuming you care about those since you're into the tiny house thing.
And have you looked into property taxes? And things like special assessments? Governments have another nasty habit of announcing they are converting entire areas from septic to sewer and guess what...it's going to cost you 30k but don't worry, they'll give you a payment plan. Sometimes if there has been a special assessment the value of the property goes WAY down because whoever buys it also buys the special assessment. Yippeeeeee!
Yeah sure, buy land. But do your research. Figure out what you want to DO with your land, what you would need to do it and what the land actually has. And then realize that land is NEVER a risk-free investment. Sometimes it works out great but many have lost their shirts.
And remember, if it's too good to be true it probably is. If you could buy a great piece of property for $19/month, don't you think everyone would be doing it?
Building the "tiny house" could be the CHEAP part of this endeavor depending on the land you choose. Beware.
Make sure it is a buildable lot that septic, water, and power can actually bee run to.
buy all the land you want. It is VERY HARD to get a loan on land.
A process............
I'm 22 and I'd love to move to NC eventually. I'm a huge fan of this whole "tiny house movement" and would love to buy a small plot of land and have myself a small house built. Just looking atm, I see a couple lots for <$5k..That'd come out to about...$19 a month or so...I have a part time job and can easily afford that..So the real question is what is involved that would stop me from purchasing a plot of land now? (though i probably couldnt afford to build for a long while) thanks!!
