EP76: Do a utility assessment before buying your homestead land
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- Опубликовано: 8 фев 2018
- In this video, we talk about the importance of getting the details of your utilities figured out before making your land purchase. You may discover that the cost of getting certain utilities to the ideal spot on your land may be cost prohibitive.
Make sure if you have already purchased your land, you get quotes from the utilities companies in writing before you start your building project. These unexpected costs can be devastating to your budget.
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Saw this video, and before even watching it, I'm posting this: He's Right, but there's more!
I did all the homework for utilities in the fall of 2013 and in the spring of 2014 bought the property and paid what I paid because I knew my costs. I built a shop to start in and then later that year I found out that they changed the policies on Jan1 and I needed to find another $34,000 to bring in electricity. I didn't have the money left for that plus building a house, and so I've got a $30,000 32x64 shop on some land that I can only use for storage. It almost bankrupted me and I've had to increase my income with more jobs in order to make the payments. No-one wants to pay me what I put into it, because they now know it will cost $34,000 to bring in power. This is real. Do the research & then do it again 6 minutes before you buy!
@AC81 yeah, solar is something I've been looking at for a long time. It's a good possibility, I've just got to fit everything into a workable budget.
34,000 is a lot... If you buy a solar system you could buy days of battery backup at that cost.
Depends on your load but from chinese wholesalers you can easily buy 75 kWh for under 10k in LiFePO4, which is a massive battery bank.
So the moral of the story is, do not build a new house 400 yards away and up a stone hill from the existing utilities.
Thank you. A LOT of people don't think about these things.
Years ago, before I found my place, I stopped looking at raw land as soon as I learned the cost of bringing in electricity.
Good video, but you forgot to mention a septic system
Why? Orange bucket from home depo will do just fine for years 😂 j/k
@@tacooflove6175 county ordinances in some areas
Very true and thank you. It's not as easy as it looks . Financially and physically ☹️ specially not if you plan on living with your family. If it was just me I wouldn't care if I ran a generator
ye made some good points...Thanks
thank you for sharing...
You couldn’t resist that joke could you? 😄
Good info. Thank you.
Thank you for the video
Great video man
Very helpful!
Great advice as always! Love what you're putting down here....and to look at this from a slightly different perspective, some folks around here have signed up for a variety things to be allowed on their property. From solar farms to electrical sub stations and so on....there was a property I looked at a little while back that had a cell tower on it. The good news was the lease was locked in for a time and provided a nice income for the current and future owners. The bad news (other than a giant tower on your land) is that when/if the tower isn't needed you've got a massive chunk of steel and land you cannot use. The lease terms were very restrictive for the OWNER. It also had a very large easement of land around it and providing access to it. Because of the tower, that otherwise fantastic farm has been negatively impacted forever by the presence of a controversial cell tower. I'm not saying you should focus on resale value but it is something to consider from the standpoint of what you allow on your land now has an impact for generations in the future. Government officials and big corporations with fat checkbooks should be a warning sign not an opportunity. Solar farms are popping up everywhere these days and we have no idea what the long term results will be when that infrastructure is no longer needed or is outdated. I even saw one place that stated "easy access to power" just because some high voltage lines ran through the property....now I've never seen a single family power drop from a high voltage line. As you stated so well, you really have to do your homework! Just because it has utilities on it that doesn't mean you can access them. And on the flip side, allowing them on your property may not be the best thing either.
Very well said. About 10 years ago, cell towers were a big deal around here. People were getting "rich" off allowing companies to come build and they were getting road improvements on their property. It wasn't until they realized that those leases could be sold to other companies that would try to change the interpretation of the contract and the amount of traffic that would start coming that they started rethinking their decision. As for utility access, I have a 20" gas line going through the back of my property that could never be used to tap in residential service. It is a transmission line. I agree, you have to know what all this means before making any life long decisions.
High-speed Internet is a biggie for me
AEP is always fun to parlay with
You made a cool video
Has anyone around there from cellular companies approached people to lease cell phone tower space? In Az, early on, rural farmers made a lot of money commiting to it in a location a cell company desires .
Awesome Video! Thank you for sharing this. I am looking to purchase land. I already sent a letter of intent. I asked for an extension due to the weather here in New York City. However, the land I am purchasing the buyer did start a site plan. The buyer did get estimates on the property. My question is this; he did some preliminary work three years ago. Would I need new soil testing (to verify the land is buildable), get the property surveyed, get estimates on drilling a well, adding a septic system, and cost of running electricity to the home? Do I spend the money and hire a GC before buying the property? It will cost me $1100, and if all fail or cost over my budget, I will lose $1100 (which is ok to some level). What would you do first? How do you save some money on getting estimates?
Did you consider running the electric line in the same ditch you dug for the gas line to your house? Does code permit that?
I just can't figure out how people afford this. I'm 30 - military vet with wife and kids, no debt, homeowner with equity and I save pretty aggressively. even with my best efforts, I'm not going to be able to afford my own slice like this until i'm well into my 50s and thats if everything goes well with the kiddos college. raw land is so much more affordable here in tx... anything with water/electric on it is gonna cost well over $1M for a desirable plot :(
scrap gas you don't need it...elec/water is enough...elec you can use a petrol generator/solar panels combo
isn't possible to extract water from the air? I used to have a cheap air humidifier that used to fill its tray daily....
I don't know of any country side that has gas line, water line run though out, here in north western Ont. Canada, it is not profitable for them to have lines out side the city limits as it is miles down roads before you see the first home, and the next can be 1 mile or 20 miles, the gas company here has to run the line to your home were the meter has to be on the out side wall of the home, if you want gas in your shp on the same lot you pay for it hooking into your home and run to your shop, you can install it your self an have it inspected .... the gas line is cheep it plastic, the 2 risers are 300$.. I installed an ran my own power poles for high voltages, I put 2 pole in with the 2 950 feet runs of RCSA bare high voltage wire at $0.95 CND pe0r meter, pole hard ware 230.$ my twin lug 400amp meter base on the last pole and went the max you can go under ground of 250 feet and put my 200amp panel in a shade the feed the home and barns from that panel to sub panels, then at my meter I ran another under ground 200am wire 250 feet to my shop location, hydro put the transformer up and hooked my lines to there's, once it is hooked to there line hydro owns the line and maintains it brush an all, my cost for connection was 1100$ plus 100$ to set up an account, the whole line build cost me with under ground an all, 3300$ that includes my main panel and everything as well as my hydro permit, hydro will not do your lines you ether do it your self of a contractor at 2500 per pole, after you cut the 15 foot wide right of way, meter and all under ground and panel is extra, I did it all in 2 days
Trying so hard to save for land. Do you folks work? Might seem really stupid but want to be able to homesteadand find a way to make money from the homestead/ Enough to survive, pay bills and taxes for the rest of our lives. Any pratical ideas would we welcomed.
I am self employed off of the homestead. My wife homeschools our children. Your plan is not stupid. In fact, it is the single most important effort of modern homesteaders I have found. Modern homesteading requires some income due to these expenses our ancestors didn't have centuries ago. We are working on a series of how to identify revenue potential on the homestead. Stick with us as that will be coming up later this year.
trying to find something to do at home so we can stay home and live on a homestead once we get our land bought. Thank you for all the ideas you may give.
Curious about internet
Just curious. A hundred acres of abandoned land is about how much?
We bought ours for $250 per acre. We have a video detailing it.
gas line, no thanks, propane tank. telephone line, no thanks, cell phone. electric line, no thanks solar power. water line, no thanks, well. utilities = monthly bills, no thanks.
I like that set up! Although you still have to pay for propane, so I wouldn't say you have no utility bills. Are you all 100% off grid? (other than the propane)
ceramictiletonight A cell phone is a monthly charge.
Lol you going to need water no matter where it’s coming from read more less typing
I shouldn't have complained about the extremely irritating adverts I was seeing on your channel. Now I'm seeing explicit extreme violence. Gives new definition to offensive, and also disturbing.