My wife and I've been searching for land or a home in our school district. We have two kids that attend the schools and we are involved with sports and school functions.
We own a home now that is a bit to small for a family of four. It is a ranch house on 1.8 acres of wooded/grass land. we love it here but it's in the flood plain and it's nearly impossible for additions or garage add ons because of the permits in the flood plain. we have seen water once in the last 12 years.
Anyways, we've been looking for land for a long time and haven't found land or a home more then .3 acres. .3 acres goes in the mid $80k here which is insane.
Well, I found 2 acres yesterday for just under that. The catch is that it has a house on it now that is to be torn down upon purchase of the property. It has a well and septic already. It's an old house with rotten floors etc etc so nothing is of value in the house itself.
The area it's in is very nice and in our township. I figure we would maybe just buy the lot and and take our time with builders and what not. My wife works for a waste hauling company (Waste Management) so dumpsters are of plenty. I could also put the house up for free on Craigslist haha. the house is a small two story.
The house is located in the far side of the lot against the road so the new house would be more centered in the lot. I figure I'd just extend to the septic that is there to avoid a sand mound if the septic is adequate.
If all else fails I could tare down the house and double my money on the lot.
The wife and I are thinking of following through with this because we like the area and really like the price. I'm looking for any advice that people can give me.