This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Save Money with a Modern Land Grab

BOSTON ( TheStreet) -- Despite deeply discounted housing stock, there are those who dream of building a home of their own.

Laying the foundation first means owning land, so it's good there are still bargains to be found. Such states as Alaska, Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah and Wyoming have pockets rural enough to drive down the cost per acre.

Among the least expensive land listed through Realtor.Com, the website of the National Association of Realtors, are a 1.25-acre, $1,000 plot in Frostproof, Fla.; a $1,200 acre in Belen, N.M.; and six acres in Hokley, Texas, for $1,306 .

By comparison, the most expensive lots on sale include: Salt Lake City ($999,900,000); Beryl, Utah ($146,247,750) ; Fort Myers, Fla. ($100,000,000); Virginia City, Nev. ($90,000,900) Franklin, Conn. ($85,000,000); Las Vegas ($71,548,000); Calverton, N.Y. ($68,000,000); Yaphank, N.Y. ($66,700,980); Hana, Hawaii ($65,000,000); Talking Rock, Ga., ($59,150,000); Dragoon, Ariz. ($58,825,000) and Meeker, Colo. ($55,000,000)

On websites such as CraigsList and eBay (EBAY - Get Report), brokers and owners are going direct to customers. Among land up for grabs recently was 4.3 acres in Southern California for $5,900; a 50-foot by 100-foot home lot in Clarksville, Texas, bidding at a mere $147; and 49 acres in Nevada (in all its barren, dirt-roaded glory) for $17,900.

Based on cost per acre, these plots of land may seem a bargain. But if land is dirt cheap, there is usually a reason.

Typically, the farther from metro centers you get and the lower population drops, so does the cost. This can be great for those looking to avoid the hustle and bustle of city life. But it also means amenities may suffer. How close are the nearest police and fire stations, schools, supermarkets and hospitals? Where does the water supply come from, is there municipal sewerage available and are there restrictions on septic systems? Can your cell phone get a signal?

In some municipalities, zoning regulations and building codes may stop you from new construction. Roads may be deemed inadequate for public safety vehicles, making the plot legally unlivable. Make sure there are no conservation or habitat-related restrictions. In some parts of the country you may need to make sure construction would not upset historical artifacts, such as an Indian burial ground.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
EBAY $26.87 1.47%
AAPL $112.34 4.29%
FB $89.89 3.05%
GOOG $614.34 2.77%
TSLA $247.69 3.80%

Markets

Chart of I:DJI
DOW 16,351.38 +293.03 1.82%
S&P 500 1,948.86 +35.01 1.83%
NASDAQ 4,749.9790 +113.8740 2.46%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs