Quote:
Originally Posted by sam123
My wife and I are thinking about moving to RTP area from NJ in a year or two. We are thinking about buying a lot around .25 - .50 acre preferbly in Cary for now. Once we are ready to move, we can either sell the land possibly with some gain, or use that to built a house.
Can someone please provide some insight on land property value/availability. Or comment on if that's the right thing to do at this point ?
We would prefer area with a good schooling system as we have a 16 month old son.
Thank you,
Sam
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As a Real Estate Agent, I can tell you this...its difficult to find property that the developers don't already have. Most developers get the land, get the permits, invite a few builders and then sell the property and the home as a package deal. So there just isn't alot of lots setting around for someone to buy.
And...if you do find a lot out in the country, its possible that mobile homes can be built around you, which doesn't increase your home value.
Since you have kids, not being in a neighborhood means they wouldn't have the neighborhood kids to play with.
My brother has horses so we did find him about 25 acres with a pond and a log cabin on it. He had to build his horse barn and fencing but for that much land with a home on it, he paid about $700,000.
I don't mean to discourage you but I've had clients ask this before and we try to find it but its very very difficult and you need to understand all the consequences and then determine if this is the right route for you.
Hope this helps!
Vicki