Wednesday, April 29, 2009

Pondering Property Possibilities

One anonymous commenter asked me many questions about my land so I decided to write about it.

The text came out smaller than I expected. Click on the picture to make it bigger.

My land is shaped like an L. The larger part of the L is 3.3 acres. I bought it in 2002 because I wanted a place to call my own even though I was working in Yuma at the time (3 hours away) and only visiting my land on weekends. It was just what I wanted. It had an old mobile home, greenhouse, hot tub and a garage but was sold as vacant land because the structures didn't add any value. Perfect for temporary living while I build my house...ok, so the house hasn't happened yet. It also has a beautiful, nearly 360 degree view of the mountains, desert and city lights...and 2 baby saguaro cactus :)

The small part of the L is 1.14 acres. I bought it a year later when the driveway was crumbling in to the wash (a wash is a dry riverbed, except during the summer monsoons) and I wanted another entrance. I figured it would be a good investment too.

Both pieces are paid for and now I live in my RV next to the mobile home because I still haven't fixed up the mobile home. The 3.3 acres can legally be split once making 2 separate residences. The 1.14 acre piece is already legally separate. After looking online at similar properties I would say the smaller piece is worth $55k and the bigger piece, if split, would be worth $70k each. But no one seems to be buying land at the moment. They would be worth more if I dug a well but since wells cost $30k out here, it's going to be a while before I do that.

The drive to downtown takes between 25-35 minutes. I am within 2 miles of the paved suburbs and less than a mile from the paved road. We have good schools and a Walgreens. They promise us a grocery store any year now.

There are many things I could do with my land including building a house or two, putting a manufactured home on an acre and renting it out, boarding horses, selling part of it...etc... But right now I just enjoy the open space and the wild creatures...(except the rats and mice!).


Over the Cubicle Wall said...

That's a nice setup. I'd love to have a little land one day.

Walgreens will be on every corner in America one day.

Daizy said...

It will be even nicer when I pay off the mortgage and can spend a little money on the place. Every where I look things are crumbling from termites to erosion to pack rats. It's overwhelming.

Alex K said...

Have you considered making some extra income with your land? If you invested some money in shipping containers you could rent them out. You could also put in some RV hookups and charge people to live there. It looks like your land is large enough that privacy wouldn't be an issue.

Saver Queen said...

It sounds really lovely!

Do you use the greenhouse? What do you grow?

Lizzie @ her homeworld said...

i have always lived on an island, always lived byt he sea and cant imagone not being close to the sea (us island folk are funny like that) but you do make it sound lovely. Get that mobile home sorted out and live in a bit of luxury for yourself though (with plenty of books!)

Daizy said...

Hello Alex K. I would like my land to make money for me some day. I can't do the shipping container idea because I found out that they are illegal to have on residential property in my county. The RV idea is a good one though. My biggest obstacle is a water source but once my mortgage is gone I will be able to pay for a well if I still have a job.

Daizy said...

Saver Queen, I use the green house to keep whatever makes it through the summer. Last year it was a tomato, strawberry and some other ornamental plants. Unfortunately the green house doesn't have a door and something went in and at the tomato and most of the strawberry. It does have potential though. I hope to install shelves and a door. Then I could grow tomatoes year round. It's really only good for 4 months. When it gets over 75 outside that greenhouse turns in to a plant cooker!

Daizy said...

Hi Lizzie, someday I will have a walled garden with a fountain. Then I can pretend I am near water even if it is just a tiny bit.

Petunia 100 said...

So then your house is in a subdivision in town? Or is it in a different town? Did you live in the house at some point?

About how long did it take you to pay for the land?

Just curious.

Daizy said...

Hello Petunia, yes, my house is in a subdivision in town. I lived there off and on until I got laid off from my last job and then I started renting it out, then tried to sell it, then rented it again.

I paid off the land within 3 years. One piece cost $39k, the other $25k. The interest rates on the personal loans I got were 9% and 11% so I wanted to make them go away fast. I had a higher paying job back then so it wasn't hard to do.

Pat356 said...

Hi Daizy,

I've also got the itch to build a container home to stay on property while I save to build something bigger (maybe out of containers, too); I've got the skills needed for the work, but... well, now I'm afraid you're in Pima county. That's where I'm looking, and if they won't let me have a container... it changes a lot of plans. Thanks for the interesting reading.