# What to look for when purchasing a 15 acre property?



## EscapingToronto (Jun 27, 2011)

We're currently interested in a particular piece of land that's being sold at a "too good to be true" price. 
I _think_ I know the reason for the price, but it's something I don't personally care about as it's a "not in my lifetime" thing and I don't really care what happens to my home after I'm dead lol
What would you be on the lookout for when buying land that size? There is a modest home on it which looks to be nicely renovated and half of the property is cleared, half treed. The details we have so far are septic, well water and oil heating.
I've never purchased a property that big (lived on one, but I didn't buy it so I didn't have to consider any of its features). 
Any help is appreciated!


----------



## Grumpy old man (Aug 6, 2013)

What's the reason for low price ?
Fence ?
gallon per minute water flow /depth/age of pump ?
septic full ?
bad foundation ?
termites ?
jail being built across the street ?
bad roof ?
next door to ex wife/husband ?
The list could go on for days ! 
need more info !


----------



## rod44 (Jun 17, 2013)

So, what is the reason you think it is selling low? It may be more of a problem than you realize. Let some of use that have had a lot of experience decide.


----------



## EscapingToronto (Jun 27, 2011)

The area close to the property is the boundary to a future international airport. Today, it's still farmland, but it was recently announced that construction will go ahead. The boundaries of the airport lands are far enough away that we wouldn't hear construction noise but at one point the property will be under a flight path.


----------



## rod44 (Jun 17, 2013)

That could certianly lower future and current value. Talk to a Real Estate Appraiser in the area and they may be able to give you an idea of how much.


----------



## EscapingToronto (Jun 27, 2011)

I'm not too concerned about the value of the property, we'll be paying cash so it's whatever it's worth to us... I was just worried about its homeseadability 
The land isn't flat, it has a ditch going through the middle so both halves of it slope towards the middle, to me that makes it look nice but I'm not sure if that could be a disadvantage of some kind?


----------



## tickranch (Jan 6, 2007)

Are there any easements or right of ways on the property, utility or other? 
Are the property lines recently surveyed and clearly marked?


----------



## DEKE01 (Jul 17, 2013)

More importantly, what are you looking for in a property and how does this property fit those needs and wants? 

Unless you are very old or you know construction will not begin for many years, that airport might be a big problem. One thing is certain, your desires will change over time and what is not important to you today may be very important in 20 years. Investing a lot of money, time, and emotion in a piece of land that will most likely not fit your needs in later years is not a good idea no matter how cheap it is.


----------



## Gray Wolf (Jan 25, 2013)

I'd try to find out more about the airport:

Will they end up buying your place in your lifetime for noise abatement? Getting a fair price for all your work might be hard as the land itself will still be usable, just not fit to live on.

Where do you fall in the projected noise contour map? There are specific maps that show decreasing noise levels the farther you get from the airport. Directly under the flight path is bad but noise diminishes fairly quickly to the sides. It may not be all that bad. We used to live to the side of Paine Field, in Everett WA, where Boeing builds and delivers their planes. Modern engines are much better than the old stuff. The only time it was a big bother was when a old generation UPS, or similar, left with a hot shot pilot.

If you decide to sell, or have to for some reason like health, banks may not lend to a prospective purchaser.

Is the ditch in the middle classified as a stream? It may not look like it but ..... Most jurisdictions heavily regulate streams and wetlands. Check to see that you will be able to farm/build on all your land instead of loosing some to buffers. Depending on classification, here in WA anyway, buffers on either side can go over 300'. Loosing 600' out of the middle would hurt.

Mineral rights? Timber rights?

Do you plan on remodeling or expanding the house?

High speed internet? Power? Oil tank leaking? Well water tested? Septic tank pumped?

Lots of questions but it might be perfect for you and at a great price.

Good luck!


----------



## simi-steading (Sep 27, 2012)

I don't know if you've ever lived in a flight path or not, but I have in several places.. (and sort of still do, just off to the side) and it's not enjoyable...


----------



## DEKE01 (Jul 17, 2013)

simi-steading said:


> I don't know if you've ever lived in a flight path or not, but I have in several places.. (and sort of still do, just off to the side) and it's not enjoyable...


Semi-stead, I used to fly in and out of DCA all the time. That landing approach coming up or down the winding Potomac is a roller coaster ride all so that we don't disturb you too much. THANKS A LOT 

You need to get away from that place. When the city or Pentagon goes boom, you are going to be right in the thick of it.


----------



## Grumpy old man (Aug 6, 2013)

With all the quality land still available cheap why bother with it ?


----------



## Conhntr (Aug 7, 2010)

They may condemn the house when the airport opens if it is really close. IAD added a new runway and they condemned several buildings that where too close to the new runway.


----------



## DEKE01 (Jul 17, 2013)

Conhntr said:


> They may condemn the house when the airport opens if it is really close. IAD added a new runway and they condemned several buildings that where too close to the new runway.


Sounds like we might be neighbors. I'm under the southern approaches to IAD


----------



## simi-steading (Sep 27, 2012)

DEKE01 said:


> Semi-stead, I used to fly in and out of DCA all the time. That landing approach coming up or down the winding Potomac is a roller coaster ride all so that we don't disturb you too much. THANKS A LOT
> 
> You need to get away from that place. When the city or Pentagon goes boom, you are going to be right in the thick of it.


Yep. I'm just to the side of the DCA approach.. This place isn't too noisy though... Every now and then we'll get one over the house for a do over or something, but with the new engines, it's not like planes were 20 years ago.. 

I used to live at the end of flight lines on a few bases... .Being directly in the flight path isn't too enjoyable.. Even though the newer engines are a lot quieter, when you have 30 planes or more an hour flying over you, you get tired of it.. 

I've lived right beside train tracks.. you do get used to the noise and tend not to notice.. but then again, a train isn't usually going by every one or two minutes..

You couldn't give me a free home with 15 acres directly in the flight path of an International airport..


----------



## SteveD(TX) (May 14, 2002)

I deal often with a local airport who is constantly seeking additional land for expansion of their runways, future hangar space, and safety zones. This could mean that they MIGHT seek all or part of your land at some point in the future. Like others have said, look into the airport plans if you are concerned about the possibility of losing your land at some point. I assume that eminent domain laws in Canada are similar to those here in the U.S.


----------



## EscapingToronto (Jun 27, 2011)

Grumpy old man said:


> With all the quality land still available cheap why bother with it ?


LOL Where?


----------



## Grumpy old man (Aug 6, 2013)

EscapingToronto said:


> LOL Where?


google land for sale by owner in whatever area your looking at and you will be surprised what you will find . Here in the states it's everywhere because many banks refuse loans on bare property and the owner has to sell owner finance and at a lower rate if they want it gone ,Everyone wants land it takes cash or owner finance to buy it right ...:cowboy:


----------



## EscapingToronto (Jun 27, 2011)

Grumpy old man said:


> google land for sale by owner in whatever area your looking at and you will be surprised what you will find . Here in the states it's everywhere because many banks refuse loans on bare property and the owner has to sell owner finance and at a lower rate if they want it gone ,Everyone wants land it takes cash or owner finance to buy it right ...:cowboy:


The amount we're looking to spend is about half of what the average Chinese investor around here carries around in their wallet unfortunately.


----------



## HOTW (Jul 3, 2007)

Where are you going region wise? We just purchased in Eastern Ontario and I grew up north of Toronto.Is there a preferred top line purchase price? We spent nearly 1 year on a specific search 2-3 years before that on general searches.


----------



## John_Canada (Aug 17, 2013)

EscapeTO, we are sort of looking in the same region I suspect. Wife and I from Windsor/Essex and land has become so expensive here we decided up north of TO would be better. The thing we are discovering has to do with future development of wind farms, $10K development fees to build anything, lower land that floods, close to an indian reservation (don't understand that one myself except maybe you might be able to lease land cheaper on a reservation...not sure), land is too rocky to grow anything, land is inaccessible 4 seasons, no water (well), no utilities, close to a nuclear reactor or coal plant, blasting underground, 100 year flood line will cover the property, dealing with conversation authorities, list goes on I guess. What area are you considering and I can give you more idea the problem as my wife and I have been researching for few months now and I know HOTW lived in those areas.


----------



## HOTW (Jul 3, 2007)

EscapingToronto said:


> I'm not too concerned about the value of the property, we'll be paying cash so it's whatever it's worth to us... I was just worried about its homeseadability
> The land isn't flat, it has a ditch going through the middle so both halves of it slope towards the middle, to me that makes it look nice but I'm not sure if that could be a disadvantage of some kind?


it depends on how much it floods during the melt! We just purchased 20 acres in eastern ontario amd it has a river branch runnnin thru it that has about a four acre flooding plain which is fine for the animals to run on in summer as it dries up nicely( we looked at the property just after spring thaw so we saw itat its worst ) but in spring it can be prety dangerous pasture for silly brainless breeds. You ned to know how bad it gets. The areas i have designated for gardens and crops and orchard are above and beyond the flood zone. We actually walked the whole property yesterday and it made up my mind to change where i was going to plant the or hard. We lose some hey fields but in the long run it will benefit is more


----------



## EscapingToronto (Jun 27, 2011)

HOTW said:


> Where are you going region wise? We just purchased in Eastern Ontario and I grew up north of Toronto.Is there a preferred top line purchase price? We spent nearly 1 year on a specific search 2-3 years before that on general searches.


We're looking in the area north of Pickering. Top purchase price would be $1-$1.1m (but that would have to be all in with nothing left to be done). Realistically we're hoping to find something in the $600-$700k range to leave us some room to build what we need. I don't particularly want to spend that much but I'd like to be able to go off-grid and be self-sufficient one day. 
Those are good points about the flooding. From looking at the property I wouldn't imagine there to be too much of an issue because it slopes quite a bit but we'll need to lol into that.


----------



## Gray Wolf (Jan 25, 2013)

Here you go....buy my house.

offgrid150.simpl.com


----------



## EscapingToronto (Jun 27, 2011)

Gray Wolf said:


> Here you go....buy my house.
> 
> offgrid150.simpl.com


Want to know the most frustrating part? That is 100% what we're looking for. I wouldn't change a thing with that home. In the area we're looking at, that would be $3-$4million.


----------



## John_Canada (Aug 17, 2013)

Escape, I used to live down on the lake in Pickering and Scarborough and you couldnt even pay me that 3 to 4 mill to live there again. I used to ride mtb prob where you are talking about. If you go just a bit more north like say haliburton/bracebridge you could easily find 25 to 50 acres for around $100K. I dont understand $1M? Go up a bit more and you can even find 100 acres for $60K or more likely 50 acres for $50K. Leaves PLENTY for house, farm, solar, everything.


----------



## EscapingToronto (Jun 27, 2011)

I wouldn't live in Pickering/Scarborough by the lake eitherl... Kinda scary. We're looking a little bit more north but not as far as Bracebridge unfortunately. My office is in the city so I need to be close by.


----------



## HOTW (Jul 3, 2007)

I suggest yoyu look possibly in the region of King City-there are still some places with acreage and the commute is possible. My Dad did it when we lived there in the 70's. Lovely area, lots of farmland(Holland Marsh) also loads of horse people. I have found a few properties searching realtor.ca that match your desires, if you give a little more detail its a lot easier for people to give usuggestions..

http://www.realtor.ca/propertyDetails.aspx?propert---=13345286&PidKey=699330499
http://www.realtor.ca/propertyDetails.aspx?propert---=13553679&PidKey=-724779554 this one has a lot of treed area byt he looks

http://www.realtor.ca/propertyDetails.aspx?propert---=13618939&PidKey=-1363177495 this is over to uxbridge
http://www.realtor.ca/propertyDetails.aspx?propert---=13647002&PidKey=-1913782118
http://www.realtor.ca/propertyDetails.aspx?propert---=13514869&PidKey=-440199062
http://www.realtor.ca/propertyDetails.aspx?propert---=13351432&PidKey=1262094059 pickering

just a couple I found


----------



## EscapingToronto (Jun 27, 2011)

Thanks for the suggestions! The links don't seem to work for me, if they're still valid for you, could you post their MLS #?


----------



## HOTW (Jul 3, 2007)

Sure no problem MLS #s : N2671168 N2718335 N2710038 N2657312 N2690323 E2671959 N2657795 N2637837 N2723651 N2602039 N2730725 N2687537 N2669064 

Found a few more I only pulled the ones that have 10-25 acres or more


----------



## John_Canada (Aug 17, 2013)

Holy cow those are expensive compared to even one hour out of TO. Those same properties here would be $200K at the very most and farmland in the 25 to 50 acre range has risen 20% in one year here due to high demand from TO people retiring.

Could you consider buying a property more outside and building it up over time then move out there when you have straight cash to do so? It is pretty much our plan and gives us a transition period to get used to it.


----------



## HOTW (Jul 3, 2007)

When we lived in that area the prices were much lower!!LOL and people thought my Dad was nuts for living in that region! We purchased where we did for many reasons, a lot was finanicials yet requiring to be within a certain distance to a hospital fo rmy mum. When we left the King region in 1980 our house sold for $74,000 now it would got for at least $550,000!!! if not more....


----------



## credee (Aug 17, 2013)

yeah, before paying much of anything, you need to talk to quite a few people. Best check into "environmental" problems with gov't, lawsuits, etc. some of that stuff can be rouinous to you, not just about this property, either. Are you buying as a corporation, in order to protect your other assets?


----------



## EscapingToronto (Jun 27, 2011)

We're buying as a principal residence to protect my _son's_ assets. If we kick the bucket unexpectedly, I don't want him on the hook figuring out how to pay the taxes.


----------

