Bought some lake property

[Gary H NC]

Well i finally found an acre lot on my favorite lake.
I bought it yesterday, It was owned by an old couple who was going to build a house on it but the mans health was getting bad.
I paid 18,000 for it,septic,water and power already there.
The site for the house already cleared.
Its a gated community with private launch,wet slips are free but got to get on a waiting list.They are building 40 more slips.so i know i can get one.Swimming pool,clubhouse,tennis courts ect..
Does this sound like a good deal? I know .30 acre lots are going for 25000 and up in the same area..without septic or anything cleared yet.
Mine is in a cul-de-sac with only woods in view,no other homes built yet.
The rules are that you have to have at least 1100 square foot home,it can be an off frame modular.
I never built a home before so i'm wondering the best way to go..modular or site built..

 

[gonefishie]

Re: Bought some lake property

Wow, that is a heck of a deal, is it on a big lake? Modular can be done real quickly but aren't you in high wind/hurricane area? If I was you, I would have it built with brick. If cost of living is anything like here then you can have a brick house built plus the cost of the lot to comes out to around 200K. Turn around and sells it for 300K. Or lives there for a few years, lets the community filled up and that place would be in the 400-500K.

 

[rottenray6402]

Re: Bought some lake property

No matter how you look at it, it is a win/win deal for you! Congrats on the great deal. Like gonefishie says you can always make money on it if you decide to sell! They ain't makin no more realestate, especially on the water.
Sounds like your luck is getting better!8)

 

[Gary H NC]

Re: Bought some lake property

It,s on a 6000 acre lake with two rivers running into it on the north end.Very clean water,great fishing.
It's about 200 miles inland from the coast so no worries about hurricanes.
I found a 1480 sq.ft.modular for around 70 grand.or a 1560 sq.ft.for around 80..
Just looking at some options...this will be my permanent residence.
Either way i figure i can come out with a house,land and all for around 110 grand..

About time my luck turned around!! Thanks guys!
Other homes in this area are selling for 275,000 and up.
Also there is no way this area will be over crowded,state forest on one side and wildlife preserve on the other side of the lake.Nice mountain view from the docks..

 

[rwise]

Re: Bought some lake property

sounds **** nice, enjoy! and wheres the pictures?

 

[Gary H NC]

Re: Bought some lake property

Tried to take some pics with my camera phone. I emailed them to my pc but never got them...Dang Verizon!!

 

[Ron G]

Re: Bought some lake property

RWHdglad its working out for you,if i could get a lot on the lake here for that i would buy them all.around here you have to be a mega RWH to live on the laked

 

[Gary H NC]

Re: Bought some lake property

Thanks RonG..I think i was in the right place at the right time for a change. It may take a year or two but i can't wait to get a house built.
I'll post some pics when i get back to the lake..I got to go out of town untill aug 20th...Dang it!

All of this gets my mind off that cheating woman you all helped me through..

 

[JB]

Re: Bought some lake property

Waaaay cool, Gary. Can you tell us what lake it is?

 

[QC]

Re: Bought some lake property

WTG!!! Nothing like that around here for less than $1M . . . :^

 

[Link]

Re: Bought some lake property

Way Cool Gary.
Property alone around here on a lake is well over 100K and up from there.

 

[Reel Poor]

Re: Bought some lake property

We don't even have any lakes like that. :/

 

[Gary H NC]

Re: Bought some lake property

JB,It's called lake Tillery, about an hour from any major cities in NC.. But i like the area and the privacy.
It is a resivour from 2 other lakes and 3 rivers all flow into it. About 75 ft. deep and 18 miles long from dam to dam.It's one of the few lakes left that isn't overbuilt with homes.Even if i sit on the land i know it will be worth much more in a few years..
Great striper,bass,catfish and crappie fishing!
I'm going to build a house and live there if it takes every penny to do it...8)

ReelPoor,I get a house built come up and relax awhile!!

I know LakeLivin is from NC..wonder if he lives there?

 

[Gary H NC]

Re: Bought some lake property

Went shopping today for Modular homes...Cost was way more than expected.
Anyone know much about this?
Would i come out better with a site built?
1660 square foot modular was 132000...
That was turn key price,very nice home but i was expecting maybe 80K...

 

[Dunaruna]

Re: Bought some lake property

[colour=blue]I'm thinking.................................houseboat!

2 birds, one stone. d

 

[LadyFish]

Re: Bought some lake property

Gary, congratulations. You stole that property!!!! It would be a great place to live year round.

The modular sounds way too expensive. I bet if you talked to a homebuilder you would get exactly what you want in your 1,600 sq ft for less than that price.

 

[Gary H NC]

Re: Bought some lake property

I thought that was a really high price for a modular.
I'm not in a real high price area.
That was turn key price with foundation and all but i'm going to keep shopping around.
This will be my full time home.Us poor folk can't afford that much for a vacation home..lol..8)

 

[rottenray6402]

Re: Bought some lake property

We'll all come down and give you a house warming when you get it built! I suggest you don't put expensive carpet in it in case I spill my beer. If you have the time and act as your own general contractor you should be able to build it much cheaper than the modular.

 

[Gary H NC]

Re: Bought some lake property

I'm thinking Iboats get together on the lake!

RottenRay,I'll just put the keg on the porch...lol
House warming gifts..mmm beer,bait,a couple girls in bikinis? 8)

 

[txswinner]

Re: Bought some lake property

For living go least expensive, for investment always build.