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Best way to add value to my property
Posted on 11/8/21 at 9:23 am
Posted on 11/8/21 at 9:23 am
I bought property earlier this year with the intention of builidng a house. Property was valued at around 42K, I owe about 34K on it now. I have about 25k that I could put down towards the property but would it be better to do upgrades to the property to raise value? I have put in a culvert since buying. I wont be building for another 8-12 months so I could pay the property completely off before building. Thoughts on what the best route would be?
Posted on 11/8/21 at 9:44 am to tigerclaw10
Hard to say without seeing it, but for that budget, I would suggest:
- Painted cabinets
- countertops
- a few lighting fixtures
- landscaping
- Painted cabinets
- countertops
- a few lighting fixtures
- landscaping
Posted on 11/8/21 at 9:51 am to Dandaman
Sorry for the confusion, I meant before the house building part. Would like to have as much equity in my property as possible before building the house.
Posted on 11/8/21 at 10:37 am to tigerclaw10
So you’re saying you have a lot that you intend to build a house on at a point later in the future? If that’s what you’re saying I’d strongly advise you to not do anything at all until you know exactly what you’re doing with it. No sense wasting money on something you might tear out later. Only exception I can think of is maybe planting some trees if it’s devoid of vegetation and you don’t intend to build for 5-10 years. If you do that they could be decent size by the time you’re ready to build.
Posted on 11/8/21 at 11:00 am to tigerclaw10
How many acres is it? If it's a few acres, I'd fence it in with some cedar posts and add a gate to the front. Maybe a nice electric one or something and plant some trees if there aren't any.
Posted on 11/8/21 at 11:03 am to tigerclaw10
Above ground swimming pool
Posted on 11/8/21 at 11:31 am to Insufficient_Funds
I will definitely build a house here in the not too distant future. I very much like el gauchos thought of an above ground pool. It will let the neighbors know we are trashy even before we live there.
Posted on 11/8/21 at 11:39 am to tigerclaw10
quote:
Best way to add value to my property
Run for Mayor then appropriate money for it.

Posted on 11/8/21 at 11:50 am to tigerclaw10
quote:
I very much like el gauchos thought of an above ground pool. It will let the neighbors know we are trashy even before we live there.
If the above ground pool is biting off a bit too much, you could just throw a trampoline out there.
Posted on 11/8/21 at 12:23 pm to Dandaman
quote:
Painted cabinets
- countertops
- a few lighting fixtures
- landscaping
Seems hard to do with a vacant lot baw
Posted on 11/8/21 at 12:23 pm to Chucktown_Badger
Will insurance cover a trampoline in my swimming pool?
Posted on 11/8/21 at 12:43 pm to tigerclaw10
I don’t think you need to spend 25K just for the sake of it. Wait until it’s time to build the house. Kind of an impossible question without more details on the land.
Posted on 11/8/21 at 12:51 pm to tigerclaw10
Yeah, you're not really going to add anything to the value. Just hope for some appreciation on the lot.
Posted on 11/8/21 at 1:00 pm to tigerclaw10
quote:
Will insurance cover a trampoline in my swimming pool?
You're certainly on to something. That would be so fun.
Posted on 11/8/21 at 1:24 pm to tigerclaw10
It's a bit of a vague question, as others have stated. Is this a lot in a subdivision? Rural land? Assuming this is in a developed subdivision and you already have sewer and drainage lines and all utilities available to the property that you just need to tie into when you build, then the only thing I would suggest if you want to put the money toward the property is to pay down your existing loan on the land. If you don't have water, utilities, drainage available to the land, you could see about getting that stuff run to the property, but unless this is some remote rural property, I don't imagine that to be the case.
Posted on 11/8/21 at 1:37 pm to jfw3535
This lot is in a new subdivision in a rural area. No sewer, no water ran to the property yet. This is kind of what I was asking the question for. Sorry for the details left out. How much value could I add to the property by doing these things? Can I put in my sewer before I do my dirt work or should I wait until after?
Posted on 11/8/21 at 3:10 pm to tigerclaw10
Well again, I'm not sure I'm tracking your response and I don't want you needlessly spending money. If this is a subdivision, utilities should be available to your property. That is part of the developer's job in improving and enhancing the land he bought. The developer buys a big tract of land, divides it into residential lots, builds the streets, installs sewer and utility lines and then turns around and sells the lots to people to build their houses. When you go to build, your builder just ties into the water, sewer, electricity, gas, etc. lines that are already available to your lot. Follow me? I cannot imagine you would have a lot in a residential subdivision that does not already have utilities available to it.
Not to sound rude, but I don't think you know enough to know what you don't know, and you're going to run out and waste a bunch of money needlessly. Just pay down your land loan by $25,000 and call it a day.
Not to sound rude, but I don't think you know enough to know what you don't know, and you're going to run out and waste a bunch of money needlessly. Just pay down your land loan by $25,000 and call it a day.
Posted on 11/8/21 at 4:30 pm to tigerclaw10
give it a strong, formidable gate system with good (straight) posts that cant be easily circumvented, try to install/improve trail system, clearly define boundaries....profit!
Posted on 11/8/21 at 4:49 pm to tigerclaw10
quote:
This lot is in a new subdivision in a rural area. No sewer, no water ran to the property yet. This is kind of what I was asking the question for. Sorry for the details left out. How much value could I add to the property by doing these things? Can I put in my sewer before I do my dirt work or should I wait until after?
The more I read in this thread, the less i understand the point of what you're trying to do. You're saying you want as much equity as possible for when you start building, but to get that equity you're going to need to make investments which will require cash.
So I don't really get the point of doing anything...whatever you do now will just start to degrade/weather now anyway.
ETA: So I agree with the post above....get more equity by simply paying down the lot loan. Dirt doesn't require maintenance and people probably aren't going to steal it, so why build a fancy $5,000 gate around it now? It's gonna look shitty when you start building and you may even need to take it down to make the build easier.
This post was edited on 11/8/21 at 5:22 pm
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