One moment we were touring cramped, musty apartments in the middle of town. Next, we were closing on a 12.79-acre wooded property featuring a dilapidated mobile home.
Of course, there was more than a “moment” in between, and it seems worthwhile to reflect on what actually happened in those two months that changed the trajectory of our coming years. I already wrote about the impetus for the move, but before getting into the nuts and bolts of how we cleared out the wreckage and started building anew, it seems important to touch on how the actual property purchase came to be.
Weighed our options
It’s easy to look back and think how perfectly everything fell into place. At the time, the right choice wasn’t so clear. We knew we needed to have a home base closer to Brett’s new job, but weren’t ready to uproot everything we built at our current house.
One idea was to rent an apartment near his office so we could bounce back and forth on weekends to continue working on the homestead. But one day of touring the few dog-friendly apartments in the area had us abandoning that option. It felt too much like reverting back to college housing.
Even before Brett’s job change, we’d entertained the idea of buying land as an investment and a place to park our camper and stay while guests rented our house. But was buying actually realistic? There was only one way to find out…
Scoured ‘for sale’ listings
Zillow became our new best friend. We searched and searched for property listings, remaining open to parcels with five to 40 acres, up to an hour away from work, and with or without livable structures. The options were sparse even before taking our budget into account.
Finally, Brett showed me an intriguing find that showcased beautiful fall foliage reflected in a stream running through the middle of the wooded property. It wasn’t far from town and other houses, but the mature oaks and tall pines promised a sense of seclusion. It was on the market for nearly six months and the price was recently reduced. He called the listing agent and scheduled a tour.
Saw beyond the mess
The online listing included photos of the trees and stream from several angles as well as maps showing its close proximity to a lake, river, and boat landing. What was not pictured was the “several old buildings… in poor condition” mentioned in the writeup.
We didn’t give it too much thought until pulling in the driveway and seeing just what the writer meant by “ not habitable.”
Our eyes could get past the outbuildings, which looked to have been used as a garage, a shed, and possibly a chicken coop, and might actually be temporarily useful. But it was hard not to stare at the main attraction: an old blue mobile home with additions on each side, one door open, and a partially caved-in roof.
It was such a sad sight, especially learning that this property had been in the same family since the ‘60s and the owner was selling it out of financial necessity. Nature was reclaiming what man had built, loved and enjoyed for generations, and unintentionally abandoned when life got in the way.
For us, it was not love at first sight. But the more we walked around and focused on what could be, our minds started to see the potential. This is especially one of Brett’s strengths, and he helped paint the picture of a future waterfront cabin with a bridge to the other side, winding trails, and space to fish, hunt, garden, and raise animals.
Moved fast, took chances
Our offer was made the next day. In lieu of meeting the asking price, we tried to entice the seller by offering cash (more on that next) with no contingencies, despite not knowing if we could even build on the existing foundation – which was technically in a floodplain – what type of septic system would be needed, and if the well even worked. There were so many opportunities for additional costs and headaches.
Two other offers that came in after ours and our hopes were not especially high. I tried to have the mindset of “if it’s meant to be, it will happen” and assured myself if it didn’t work out we likely dodged a bullet… even if we hadn’t yet found a plan B.
My brain tried to play it cool, but my heart was pounding when we finally got a call from the agent a few days later. She cut straight to the chase.
“Congratulations. The owner accepted your offer.”
We heard her words, but it took a few silent seconds for them to register. We looked at each other, eyes wide, minds racing, not sure how to respond. Is this really happening?
Had our financial ducks in a row
Financials are an important piece to this puzzle. At the time, I worked for a bank and had close access to caring, knowledgeable, and trustworthy professionals that could guide us through the process.
It was actually through the bank’s financial planning services that we had a clearer grasp on our present and future finances (and coincidentally prompted buying the boat).
When we put in the offer, we just so happened to be in the midst of refinancing our current house to take advantage of historically low interest rates. When the land purchase became real, our mortgage lender stopped the current application and increased the loan balance to open up cash from our home equity. He and the behind the scenes team made it happen seamlessly in what could have been a much more stressful situation.
You surely don’t need to work at a bank to receive great service, but it does help to have a relationship with a lender you trust before asking them to spring into action.
Prepared for a new adventure
Like many real estate transactions, there were hiccups between the accepted offer and closing day. A lien was discovered on the property that set everything back, requiring us to live at campgrounds during Brett’s first weeks of work.
Finally, on April 29, 2021, a horseshoe greeted us as we pulled in the driveway of our newly purchased land. Was it a sign of our good fortune or instead a mocking “Good luck — you’re going to need it!”? With all the potential and work that lie ahead, either could be correct.
We set up camp nestled in the budding trees with a view of the water, the mobile home just outside of view. Out of sight, out of mind… for now.
Video highlights: exploring the property
On a rainy March day in-between the offer acceptance and closing we got to visit and get a lay of the land. Our faces are gleaming as we imagine a future waterfront cabin with a bridge to the other side, winding trails, and space to fish, hunt, garden, and raise animals. Never mind the work required to make it happen!
Your turn
What chances have you taken that proved to be worthwhile (or not!)? How did you make the decision? We’d love to hear from you in the comments below.
Very well done Carrie, excellent. Except you made me stay up reading past me bedtime!
Also, I’m not sure where you found the time to reply to the screwball who asked you about time management. Until I read your response, that is. You have wisdom way beyound your years, nice work!
There are no “screwballs” around here — especially you! Thank you so very much.