How much is a lot where you are from?

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  1. BAFRAID

    BAFRAID She’s looking like a Super Bee again!! FBBO Gold Member

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    Man, I am jealous! If you can get an acre around me, Temecula Ca, for less the 200k you are doing great. And that’s a dried up piece of shit lot usually surrounded by houses and major roads. Oh, then you own a lot but don’t even think about building unless you have another 500-1million for a house and all the damn county and city permits. Although you can put up as many 120sq ft sheds as you want without a permit. Yay Commifornia!!
     
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    • 1 Wild R/T

      1 Wild R/T FBBO Gold Member FBBO Gold Member

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      No Comment....
       
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      • 1967coronet

        1967coronet FBBO Gold Member FBBO Gold Member

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        I had to look this up.... over 90% of Iowa is farm land,
        I know several guys that farm over 1000 acres some close to 2000 most of it rented or on shares.
        Many guys will own the old family 200/300 but keep adding rented ground to it.
        Flat, black dirt larger farms can now days bring 10k per acre. the pasture and timber ground that at one time was cheap is near $1000 per acre depending on location.

        In contrast , small town, a building lot will bring 8 to 10 thou. water , sewer . elec. at the curb
         
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        • NJRR

          NJRR Well-Known Member

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          As they say, in real estate, it's all about location, location, location. Building lot's of 1/3 acre go for 500k+ in my town. The next town over, which is one of the wealthiest in the USA, an acre goes for $2million plus and minimum lot size to build is 2 acres. There was a house built on 10 acres that went for $65million. This is 7 miles north of the GW Bridge on the Jersey side. Prices actually went up over the last year as people fled NYC and wanted more space.
           
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          • 69 GTX

            69 GTX FBBO Gold Member FBBO Gold Member

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            I would buy a lot of timber ground for that. Most that I see is 3500-5000 for timber/hunting ground on up. Unfortunately my Grandparents Heritage farm (150 yrs) is going on the market this week. 270ish acres about 1/2 crop, CRP and half pasture timber. Listed at 1.4 million. I been buying lotto tickets in hopes I could keep it in the family.
             
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            • Richard Cranium

              Richard Cranium FBBO Gold Member FBBO Gold Member

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              We paid 265 large for our 1 1/4 acre lot with two 150 year old tear downs 2 1/2 years ago. We overpaid, but had it been for sale today, the price would have been much higher.
               
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              • DGE330/NC

                DGE330/NC Well-Known Member

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                WOW 1.7 mil for 67 acres? any oil wells on it?
                 
              • Builderguy

                Builderguy Builderguy FBBO Gold Member

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                Around here a city lot (say 120 x 150) with water and sewer on a paved road goes for around 10K while a couple of acres in the country go for 15-20K on paved road and a little less for a dirt road. Move up to 40 acres of partially wooded (logged off already) with fetch 60-80K and 40 acres of full wooded and your 100-120K. The farmers in the area are starting to drive prices up as they are paying top dollar for land next to their tracts at 4-6K an acre. You can still buy a nice house in town for around 150K. Same house out in the country and it will bring 200-225K on just a couple of acres. Head toward Lansing and the price will just about double.
                 
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                • w.Hudson

                  w.Hudson Well-Known Member

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                  I own 6 acres in a desirable part of my area.
                  Seasonal flooding is a key selling point. My property is in the highest elevation of my parish. We did not flood in 1927 when the levees broke.
                  In fact we did not flood in 1927,1977,1983 or 2016.
                  I am not sure what my land is worth. An acre generally goes for $65k-$80k because they allow 4 houses per acre when developed. Every year
                  large tracts of land disappear because of developments. Very few are left that are not deemed wetlands.
                  House prices are out of sight. A cheap house on a very small lot is in the $250k range. To build one is $125-$160 per square foot.

                  The property across the main road from me is for sale. $3 million for 10 acres. That is $6.95 per square foot.
                  I think that they are crazy. But what do I know.....
                   
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                  • BigCountryMopar

                    BigCountryMopar Well-Known Member

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                    The small town my wife is from has the best school district around, land there goes for 7-10k an acre. Her business is on main street in that town and 1,500sqft runs us 1,200 dollars a month. She’s in one of the original buildings first built there from the 1920’s or before when the town was first started.
                     
                  • r4sedan

                    r4sedan Well-Known Member

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                    I'm from south Jersey. About 500k for a lot to build a house. My uncle has 17 acres his house sits on with a Lake. He bought in the mid 70's. Pretty darn good investment.
                     
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                    • Darter6

                      Darter6 FBBO Gold Member FBBO Gold Member

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                      Southern Nevada a 60'x120 lot goes for 100K to well above 300K.Even more depending on location.
                      Average 1600 SF ranch home that is new to about 40+ years old sell between 300K to 600K.
                      Where I am from in southwest Pennsylvania whole different story. 10 years ago I bought a 800 SF home on a 1 acre lot that was 50 years old for 72K and was told I was robbed.Just sold my parents home back there 1200 SF 2 story on a 100x180 lot,was built in 1947 with many up grades for 50K. As said above Location,Location ..
                       
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                      • Imperial One

                        Imperial One FBBO Gold Member FBBO Gold Member

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                        In the city where I live regular new subdivision lots sell for roughly $5000 per front foot. Yep, that means a 50 foot lot sells for $250,000.
                         
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                        • BigCountryMopar

                          BigCountryMopar Well-Known Member

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                          That sounds wild.
                           
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                          • Imperial One

                            Imperial One FBBO Gold Member FBBO Gold Member

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                            That's in London. In Kitchener probably double that. In Toronto, double again. It's not that long ago that lots were $1,000 per front foot. All about interest rates and carrying costs. My first mortgage was at 14%. Can borrow now for 1.5% or so.
                             
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                            • copper67sat

                              copper67sat Well-Known Member

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                              We bought a 5-acre homesite in an equestrian-oriented development (no horses, just horsepower) in northern Palm Beach County FL conveniently located on the western edge of the coastal sprawl - about 15-20 min from "town". We paid $94k for the lot in 1999 and built our house on it in 2005. The development was created in the mid-70's, but still had plenty of vacant lots when we bought. All of the lots are 5-6 acres and the few remaining vacant properties tend to be less desirable - read wetter/swampier - and are listed in the $350-500k range.

                              There are plenty of 1 - 1.5 acre lots in central Palm Beach County in the $150-200k range, but very few larger parcels unless you buy farm or swamp land further west so we feel fortunate that we got into the area when we did - couldn't afford it today.

                              Taxes and insurance are a bitch here too. We pay about $19 in taxes per $1k assessed value. At least the assessed value growth is capped at about 2.25% per year otherwise it would cost us another $3k in taxes if we were assessed at market value. We pay almost the same amount annually for homeowners insurance, driven mostly by windstorm (hurricane) even though I'm about 15 miles from the coast and our house was built to the latest codes. As much as we like where we are, we'll probably need to retire some place cheaper.
                               
                              Last edited: Jan 13, 2021
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                              • 747mopar

                                747mopar FBBO Gold Member FBBO Gold Member

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                                Around here (Ohio) if you own 10 or more acres and don't farm you have a nice lot. I'm in farm country where there's plenty of farms in the hundreds in acreage but for the normal guy I'd say 10. I have 11 acres, keeping it clean while working a full time job can be a handful at times.
                                 
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                                • Pete Bell68

                                  Pete Bell68 FBBO Gold Member FBBO Gold Member

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                                  In Oakville Ontario a .4 acre lot in the expensive home area sells for 2.4 million CDN
                                  21 acres in the home/industrial segment area 7.5 Million CDN
                                  A couple posted below
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                                  • BigCountryMopar

                                    BigCountryMopar Well-Known Member

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                                    I knew there were some very expensive places out there, but that sounds pretty dang high.
                                     
                                  • Darter6

                                    Darter6 FBBO Gold Member FBBO Gold Member

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                                    So what is you dream home ? For me it is a 3000 SF home with about 350 SF living space. The rest is all GARAGE !
                                    If I only could get the wife to agree......
                                     
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