It’s Time to Question the Cost of Living

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Posted by The Savvy Retiree on November 10, 2016 in Uncategorised

Andy Fleming writing on geographical independence

You don’t have to be wealthy to own a sprawling plot of gorgeous property. There are beautiful properties to be found all over the U.S. at shockingly low prices. Parcels upon parcels of land are bought and sold every day for about 20% of the national average. If you know what to look for — and how to go about looking — you can find a picturesque haven with a beautiful, mountain view for less than the cost of the tires on your car.

It’s not a pipe dream.

Between foreclosures, land auctions, and homesteading programs, you can find something that fits your needs once you do a little searching. In fact, it’s even possible to acquire land completely free if you qualify for certain homesteading programs.

Some counties and cities in the U.S. offer free land to homesteaders. They generally require you to build a house of a certain size on the property, and they’re almost always in areas with very low populations. However, as long as you’re willing to build and don’t mind being out in the boonies, this is an amazing opportunity.

Bidding on property at auctions is one of the more reliable ways to acquire land at prices far below the market value. In fact, even though real estate agents are supposed to be “experts” at finding the best house listings, few know the best sources for finding auction listings.

There’s always property selling on eBay for less than $1,000 an acre, which is about a third of the national average.

With prices this low, you might expect something to be wrong with the listing. Sometimes land might be too uneven to allow for easy building, or the site might be lacking access to utilities.

However, it’s just as common to find cheap property in great condition that’s simply been overlooked. If a listing has few or no details, you should consult a professional and take a look at the location firsthand. If you can find several properties in the same area up for auction, why not make a small vacation out of it? This way, you can talk to locals and get a feel for the surrounding area.

The more you know about properties up for auction, the more you have to gain when the bidding starts. You might find a hidden gem that everyone else thinks is rubbish, and you can play your hand close to your chest during the auction.

The best auction-goers play the system like a game of poker. They know how to bluff their opponents and keep their emotions from getting the best of them. Remember, this isn’t something you can get good at without experience. Practice makes perfect.

If you’d rather skip the auction process and just buy something straight out of the gate, there’s no shortage of property-compiling websites to help you find what you’re looking for.

With the average price of a U.S. home hovering around $358,000, this is a huge opportunity, especially for those interested in farming or self-sufficiency. The potential savings would allow you to build a home on your land at a huge discount.

It almost makes the idea of shelling out hundreds of thousands for a new home laughably foolish.

Image: ©iStock.com/Sadeugra