Buying land out of state, Pros and Cons?

[electric10162]

I was fortunate enough to buy property(56 acres) back in 2011 in Sussex County. I was all set to build when the farm abutting me came up for sale. After a two month negotiation and a six month closing, I acquired another 127 acres complete with farmhouse, barns, woods and lots of pasture. I commute 1.5 hours each way to my business in Metuchen. Once retirement is near I'll decide if I'm staying or heading West. 

[surfnhorns]

I purchased 125 acres in the Southern Tier of NY. It's a 4 1/2 Drive and I count the days down when I can get back up there! Best feeling in the world owning land that's yours! Excellent Hunting for Deer and Turkey makes it a Plus! Everyone has there limit of travel time but I would drive much further then 4 1/2 to own a piece of land. Every land situation is different but for investment I don't think you can go wrong. I owned a Rental property for over 20 years, a 4plex with multiple tenants. Sold it to buy the property, Now my Trees are my tenants! LOL!  Timbering is Definitely a Great investment!

Good Luck on your Purchase!

[Jim_]

On 3/30/2021 at 11:26 AM, Haskell_Hunter said:

I'll go through the cons.

• The property has very little value if you don't use it.  Why buy property you cannot get to or easily use.
• If the property has a structure it needs to be maintained.  Things wear down, break, and people and pests will break into your structure if you are not there often or make your presence known.  Otherwise, you'll be spending a lot of money repairing things every year that you otherwise wouldn't have to if you lived there year-round.
• Caretakers:  They are great until they stop caring.  It's your stuff, not theirs.
• Infrastructure for your structure.  It can be very expensive getting utilities to that house you want to bury in the middle of 500 acres of land.  Vehicle access, telephone poles, and that's about all you're going to get in there.  If you have oil or propane, you're going to need to be able to get a truck back there to fill your utilities.  You're also going to have to maintain that road/driveway in.  You might not be able to get an Internet or a cell connection.  As inviting as that sounds, it starts to suck when you lose it.
• Maintenance:  There's that word again.  As you get older, maintenance is going to suck more.  And the deeper you go into the woods, the harder it is.
• Access to healthcare:  Most people don't consider this.  If you need to take care of yourself or need to see specialists, they may be hours away or in some case an overnight stay away.

• No pizza joints: It's a problem, believe me. I own a little place on a mountain in very rural Huntingdon Pa ... it's a long drive for pizza, and it's crap. Not even pizza.

The point about healthcare is valid. There is next to nothing where my place is, and a  very long drive to the closest real hospital in Altoona. Slow to be plowed/sanded mountain roads in winter to get there.

It's only about a 4 hour drive or so to get there if I go off hours. Still wish I could fly right in with a helicopter and land on my own property. 

[Bucndoe]

There is nothing like owning your own piece of dirt

[estimator]

My parents bought a camp on the Great Sacandaga Lake in 1971 for $11,400. Mom and dad went once or twice a month Spring, Summer and fall. They made small improvements over the years and enjoyed having friends spend weekends After dad retired they would spend weeks at a time. The camp was left to me and my wife when mom and dad passed. It is 3 hrs and 10 minutes from Morristown and 201 miles each way. We have exclusive access to a 50 ft wide sandy beach in front of our camp.  We would go nearly every weekend when I was working. Now that I am retired we go for weeks at a time, coming home just to cut grass, pay bills and check on our home. It has been a blessing especially last year with Covid.  We are in the process of a complete renovation of the camp.  Our 50th season on the Great Sacandaga starts next week as does the Trout Season in the Adirondacks. Can't wait.........As Bucndoe said there is nothing like owning your own piece of dirt especially if it is on a lake.

[rcolman018]

10 minutes ago, estimator said:

My parents bought a camp on the Great Sacandaga Lake in 1971 for $11,400. Mom and dad went once or twice a month Spring, Summer and fall. They made small improvements over the years and enjoyed having friends spend weekends After dad retired they would spend weeks at a time. The camp was left to me and my wife when mom and dad passed. It is 3 hrs and 10 minutes from Morristown and 201 miles each way. We have exclusive access to a 50 ft wide sandy beach in front of our camp.  We would go nearly every weekend when I was working. Now that I am retired we go for weeks at a time, coming home just to cut grass, pay bills and check on our home. It has been a blessing especially last year with Covid.  We are in the process of a complete renovation of the camp.  Our 50th season on the Great Sacandaga starts next week as does the Trout Season in the Adirondacks. Can't wait.........As Bucndoe said there is nothing like owning your own piece of dirt especially if it is on a lake.

My Grandparents have a house just north on Lake Algonquin. It is literally heaven on earth up there!

[hunt1940]

When  I  Owned mine upstate ,I was always told the locals know the inside of you place better than you. 

 

[estimator]

1 hour ago, hunt1940 said:

When  I  Owned mine upstate ,I was always told the locals know the inside of you place better than you. 

 

After 50 years......We are treated like locals. I've known our neighbors and their families for generations.

[ForestGhost]

Thanks for all the input. After speaking to several people, my biggest concern is keeping trespassers off the property.

I guess that all boils down to getting along with the locals and their help watching the property, even if it cost $$$.

[electric10162]

17 hours ago, ForestGhost said:

Thanks for all the input. After speaking to several people, my biggest concern is keeping trespassers off the property.

I guess that all boils down to getting along with the locals and their help watching the property, even if it cost $$$.

Keeping people off is tough. The neighbors are your biggest asset. I let one walk their dogs on my dirt road. Another I let hunt. Another uses my pond and cuts up blow downs for firewood. Another only asks for vension. A little bit of hospitality goes a long way.

Edited April 2, 2021 by electric10162

[hunterbob1]

On 3/31/2021 at 5:12 PM, Bucndoe said:

There is nothing like owning your own piece of dirt

You met him and I a long time ago and the Dick's parking lot in Paramus. You closed the deal yesterday. 15 acres in Lincoln, Maine taxes are $1, 587 a year. Open carry on his property and you can let his beagle chase bunnies. F you Murphy.

Edited April 8, 2021 by hunterbob1

[Bucndoe]

2 hours ago, hunterbob1 said:

You met him and I a long time ago and the Dick's parking lot in Paramus. You closed the deal yesterday. 15 acres in Lincoln, Maine taxes are $1, 587 a year. Open carry on his property and you can let his beagle chase bunnies. F you Murphy.

I will be driving right past there at the end of June. Been that way lots of times. Has to be near 155 or 188. The 95er is a great place to eat

Edited April 8, 2021 by Bucndoe

[ForestGhost]

2 hours ago, hunterbob1 said:

You met him and I a long time ago and the Dick's parking lot in Paramus. You closed the deal yesterday. 15 acres in Lincoln, Maine taxes are $1, 587 a year. Open carry on his property and you can let his beagle chase bunnies. F you Murphy.

 

NICE!