Buying land

[TexasR.N.]

Howdy all,
My wife and I are looking at buying land in the Texas Hill country and we need a crash coarse in what to ask, look for, take into consideration.
The specifics of the land are:
15 acres, metal wind break for horses, pens for goats or sheep, 600sq ft metal building that is set up as a small apartment, has electric, water, telephone lines and a septic tank. Land is cross fenced, small stock tank at the back of the property that is fed by a creek, the surrounding land is all cattle land. The land makes an "L" shape with the base of the "L" being the front of the property. Closest home is approx 1 mile away, the closest town 10 - 15 miles away. Asking price is reasonable so not much haggling there.
Any guidance would be greatly appreciated.
Thanks,
Craig

[Logan]

Are yall planning on living in the apartment? Or are yall going to build a house. Sounds like a pretty nice spread.

I would just talk to some people in the area, and see what areas that are similar are going for. You can give them a lower asking price to start out with and see where that goes. I may think of something else in a few. Keep us posted.

[MrJohnWayne]

Don't forget about taxes!

im with Logan. Sounds like a nice spread. specially out in the hill country. It is beautiful out there!

[Rodslinger]

Land in the Hill Country isn't getting any cheaper so if you've found a good deal jump on it.

[bluestroker]

that sounds sweet I would love to have a spread like that I know that the market here in FL is about dead I don't know what is going on in TX but here things are not selling so sellers are starting to come more of the prices b/c all prices went sky rocket

[Manatee]

Where in the hill country is it? It sounds like quite a find. Usually the carpet-baggers snap stuff like that up for five times what a Texan would be willing to pay. Good luck

[TexasR.N.]

Prices for land in the area are running from 3,900 - 15,000 per acre. The land we are buying is about 3500.00 an acre. The owner has it priced to sell because they need to relocate quickly and it is a family friend so we know the story is legit.
Logan, we hope to have a house built before we move down there for good, which won't be for about 1 year. We could live in the apartment for a few months if we had to. As far as taxes go, they aren't too bad. The land has an Ag exemption on it as there is livestock on the land and will continue to be after the sale goes thru.

Anyone on here ever assembled a metal house? We are looking at those because they appear to be a lot less expensive that a traditional wood framed house. However, to keep your cost down you have to assemble the house. If I supplied the welding equipment, beer, and food do I have any takers on helping??? Just a joke.............a little too soon for that.

Anyways, I will keep y'all posted, God willing this will go without a hitch and all will work out.
Thanks,
Craig

[bryanbrown]

Did you check for easements? What's the ETJ of the nearest town? Alot of little towns have REALLY big etj's, just in case they want your money later. Hopefully your free and clear. Sounds like your getting a heck of a deal. Congrats.

[TexasR.N.]

Hey Bryan,
Good question, which I will follow up with....what is an ETJ? The closest town is exactly 12 miles (originally I knew it was 10 - 15 miles).
Thanks for the input,
Craig

[bryanbrown]

Extra Territorial Jurisdiction. Basically, it's the area that the town can annex into the city limits without having to go through much hubub. I wouldn't think out there it would be a problem. I think it mostly comes up with towns that are expecting alot of growth, like Celina is now, or Frisco was 10 years ago. We just bought some land 20 miles north of Austin, and we're only 2 miles from town, and not in their ETJ, but every town's different. good luck