From an Apartment to a Homestead? Yes You Can.

Published on

My favorite realtor tells me that country land is selling almost as fast as it’s listed. Could it be the normal yearning for a simpler life in the country combined with ‘all the mess’ that 2020 brought with it?

mona lisa wearing a mask

For many people trying to fill that yearning and come up with the cash to do so can be a problem.  But there are options that can help you ‘get outta Dodge’ with very little upfront cost.

By doing a little research and looking around you might just find out that you CAN do it! There are often folks that will sell raw land on a contract, with no credit checks or down payments. You can move in a small travel trailer and build as you can afford it.  (I’ve seen people living in tents while building a small house.  Other folks built a shed and lived in that while building.)  You can even find shed kits at the local HD.

Anything you can do to save money helps, even if it’s living in an old travel trailer while you build as you can afford it.  Some folks take out small loans, build with that money, work to pay it off, then start again with the next phase of the project.  Building in the summertime will mean that you can do some/all of your cooking outside. Shoot, you could even sleep outside. It’d be a great family adventure and bonding experience.

travel trailer

Some folks just live in the travel trailer/camper while paying off the land.  This allows you to then secure a regular building loan to build your dream home. (Banks typically don’t like to loan money to build a house if the land isn’t paid for. You can understand why.)

Another option is purchasing a trailer on a lot.  Many companies offer land with a trailer. These typically come with utilities in place (better check to make certain) and some kind of access road, either graded dirt or gravel. You typically won’t get a big nice lot/acreage and you might have another trailer right up next to you but it’s a method to get out of town and into the countryside.

I know many a couple that bought a few acres, plopped down a mobile/manufactured home on it while they save money to build.  They then sell the trailer/mobile home/manufactured home and build. OR sell the whole kit and kaboodle to purchase a bigger place, often further out.

One should also check into rent-to-own properties.  The reason mortgage investors offer these is that often times the person renting to own fails to finish the contract. The house/land then goes back to the owner who rents-to-own all over again.  For those with excellent payment skills can consider one of these types of property ownership.

Another option is sheriff’s sales and tax-lien properties. These properties could have gone unpaid on the mortgage or the property taxes.  Sheriff’s sales are typically listed periodically in your town’s newspaper. The county property tax assessor has a list of the properties with unpaid taxes.  These often become available once a year, so check with your county for more information.

money saving jar

None of these an option?  Consider merely moving to a cheaper house or apartment where you can save the difference in rent to put toward a down payment on your own piece of country.  It takes discipline to do so but with a bit of determination is possible.

Don’t give up. Keep looking, save all you can,  and keep your options open.