Land and Farming
Land.
It's what's always driven the expansion of the world. From ancient times to modern, people desire land.
I'm no different.
I came to Kentucky with the goal of owning horses. That meant either leasing or buying land, or just boarding the horses elsewhere. For the cost of boarding ($150 a month, an average local price not including feed or gas to get to them), we could make a small down payment, or several payments. And that's just for one horse, let alone the two that we want.
The thing is, I've never owned land. And the last person in my family to do so paid theirs off about thirty years ago, so while they'll have advice, it'll be strongly dated.
What I've determined that we'd need is at most, ten acres. That is to say, a hobby farm. A house as well would be a fantastic bonus, but most of the acreage I've seen with buildings are very expensive. We're both in our twenties, so we already fall in a high-risk group for financing. However, Feesh has great credit, so we have that going for us. We both have family that would likely be willing to co-sign.
Does anybody know (or know someone who does know) what we're getting into? Likely, we'll have a loan payment, property tax (I can find out how much that is from County Records, right?), homeowner's insurance, and once we get stock, liability insurance to CYA. That's in addition to the typical costs of a home, such as utilities (where can I get an estimate of these?) and upkeep. Also, we want to keep our current jobs. So we're also looking at an hour's drive to and from location. Both our cars are fuel-efficient, so that doesn't scare me as much. It'll mean that I probably will lose one day a week at work (not getting home until after ten thirty, only to turn around and get up at seven is not conducive for a healthy schedule), but I'd also be able to turn one of my usual days off into a workday.
In summary:
How are property taxes determined? Where can I get an estimate of them? When are they due?
First-time home buyers. I've heard there's some hoopala in Washington about benefits for such. What are they, how do you qualify?
Are there special/additional benefits for farm land?
What's the best way to get financing? Through a bank, or a lending agency? Clarify: through a personal loan, or a mortgage? What's the difference?
How would one determine an "average" price for land?
Where are the best places to look? Should we consider a real estate agent?
If a real estate agent is the best reason, why? What strings come attached to that?
Yes, I've got a lot of research to do. And I do mean a LOT. I'm going to be googling, hitting up the library, and pestering anybody I can think of for answers. This is a start. For your help, I am willing to bake and send you cookies (and I mean real cookies, not Internet cookies)!
It's what's always driven the expansion of the world. From ancient times to modern, people desire land.
I'm no different.
I came to Kentucky with the goal of owning horses. That meant either leasing or buying land, or just boarding the horses elsewhere. For the cost of boarding ($150 a month, an average local price not including feed or gas to get to them), we could make a small down payment, or several payments. And that's just for one horse, let alone the two that we want.
The thing is, I've never owned land. And the last person in my family to do so paid theirs off about thirty years ago, so while they'll have advice, it'll be strongly dated.
What I've determined that we'd need is at most, ten acres. That is to say, a hobby farm. A house as well would be a fantastic bonus, but most of the acreage I've seen with buildings are very expensive. We're both in our twenties, so we already fall in a high-risk group for financing. However, Feesh has great credit, so we have that going for us. We both have family that would likely be willing to co-sign.
Does anybody know (or know someone who does know) what we're getting into? Likely, we'll have a loan payment, property tax (I can find out how much that is from County Records, right?), homeowner's insurance, and once we get stock, liability insurance to CYA. That's in addition to the typical costs of a home, such as utilities (where can I get an estimate of these?) and upkeep. Also, we want to keep our current jobs. So we're also looking at an hour's drive to and from location. Both our cars are fuel-efficient, so that doesn't scare me as much. It'll mean that I probably will lose one day a week at work (not getting home until after ten thirty, only to turn around and get up at seven is not conducive for a healthy schedule), but I'd also be able to turn one of my usual days off into a workday.
In summary:
How are property taxes determined? Where can I get an estimate of them? When are they due?
First-time home buyers. I've heard there's some hoopala in Washington about benefits for such. What are they, how do you qualify?
Are there special/additional benefits for farm land?
What's the best way to get financing? Through a bank, or a lending agency? Clarify: through a personal loan, or a mortgage? What's the difference?
How would one determine an "average" price for land?
Where are the best places to look? Should we consider a real estate agent?
If a real estate agent is the best reason, why? What strings come attached to that?
Yes, I've got a lot of research to do. And I do mean a LOT. I'm going to be googling, hitting up the library, and pestering anybody I can think of for answers. This is a start. For your help, I am willing to bake and send you cookies (and I mean real cookies, not Internet cookies)!