Real estate advice needed

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zinfamous

No Lifer
Jul 12, 2006
111,143
30,098
146
Honestly that's why I want to acreage. I know within the next few decades most of the US will be inhabitable, and Flordia will probably be the first to go. All those people will come here.

That and and Ford having cancelled the tree planting program in Ontario, they don't replant after logging anymore so we will start to run out of forest.

Do you realize that most of the western half of your country has already been bought out by Chinese speculators?
 

zinfamous

No Lifer
Jul 12, 2006
111,143
30,098
146
Ok, but North Dakota has all the Canadian weather problems but gets to be part of the Union.

It will be a while before you guys become a world power with a melted Arctic and suddenly get the desire to annex Alaska for oil. The melted tundra will suddenly be developed over.

Even so, desert formation requires the lack of...moisture...a juiced up Gulf Stream is NOT that.....

Vancouver is the only city you have that can rival a city in California or New York City.

Toronto is a lot more diverse, though, and I think quite a bit larger than Vancouver already?
 

Red Squirrel

No Lifer
May 24, 2003
68,473
12,619
126
www.anyf.ca
Do you realize that most of the western half of your country has already been bought out by Chinese speculators?

That is an issue but think it's mostly just in the big cities like Vancouver and Toronto. Something really does need to be done about it though.

Another danger is losing the far north, once the north pole melts Russia might be interested in our far north land and I doubt we would have much chance if they decide to annex it. That land will be prime in a couple decades when it's warm, but not too hot. Then again so will Siberia, so they will gain quite a lot of their own land as being usable land.
 

NuclearNed

Raconteur
May 18, 2001
7,849
339
126
So here's a small update. The scenario in my original post didn't play out, but we're still looking in the area for props. Prices continue to rise. We are now considering properties that are 2x (or more) the prices we were originally considering. The market is moving fast - a new property is usually under contract in a day or two after being listed. I simply can't jump in that fast - I'm not a millionaire & can't rush into a significant purchase without some time to think it out. That said, there is a property we've found that is quite a bit outside our original budget - it has sat without selling for a long time (because it has an unusual attribute that actually works for us but apparently is driving away most buyers*). We're thinking about putting in an offer real soon.

In other news, since we are now looking at having to finance a portion of our purchase, we officially got pre-approved for a loan. Our credit is pristine, and as a result it turns out that banks are willing to give us an obscene amount of money... way more than we need.

*The "unusual attribute" is what the property's HOA is calling a "farming initiative." The lots in the neighborhood are 4-5 acres, but the land owners are allowed to actually occupy only .25 acres. The rest of the land is farmed by the HOA - and profits are paid out to the land owners. Land owners can opt out once they start building their house - or they can opt to stay in the program. When we move out there, we will be retired & don't want a lot of land to maintain, so this program sounds like free money to us.
 

IronWing

No Lifer
Jul 20, 2001
70,226
28,931
136
*The "unusual attribute" is what the property's HOA is calling a "farming initiative." The lots in the neighborhood are 4-5 acres, but the land owners are allowed to actually occupy only .25 acres. The rest of the land is farmed by the HOA - and profits are paid out to the land owners. Land owners can opt out once they start building their house - or they can opt to stay in the program. When we move out there, we will be retired & don't want a lot of land to maintain, so this program sounds like free money to us.
Sounds like a tax dodge. Most western states have stupid low property tax rates for farmers and ranchers.
 

BoomerD

No Lifer
Feb 26, 2006
64,229
12,561
136
So here's a small update. The scenario in my original post didn't play out, but we're still looking in the area for props. Prices continue to rise. We are now considering properties that are 2x (or more) the prices we were originally considering. The market is moving fast - a new property is usually under contract in a day or two after being listed. I simply can't jump in that fast - I'm not a millionaire & can't rush into a significant purchase without some time to think it out. That said, there is a property we've found that is quite a bit outside our original budget - it has sat without selling for a long time (because it has an unusual attribute that actually works for us but apparently is driving away most buyers*). We're thinking about putting in an offer real soon.

In other news, since we are now looking at having to finance a portion of our purchase, we officially got pre-approved for a loan. Our credit is pristine, and as a result it turns out that banks are willing to give us an obscene amount of money... way more than we need.

*The "unusual attribute" is what the property's HOA is calling a "farming initiative." The lots in the neighborhood are 4-5 acres, but the land owners are allowed to actually occupy only .25 acres. The rest of the land is farmed by the HOA - and profits are paid out to the land owners. Land owners can opt out once they start building their house - or they can opt to stay in the program. When we move out there, we will be retired & don't want a lot of land to maintain, so this program sounds like free money to us.

I think it would be money well spent to have a GOOD real estate lawyer, especially one who's familiar with those local laws, to go over the particular HOA agreement...just to cover your ass.
 

Mermaidman

Diamond Member
Sep 4, 2003
7,987
93
91
Given the 10-15 time frame, I'd also consider investing the money elsewhere and then buy land as you get closer to retirement. Sure, the land could be more expensive, but your (other) investment should also have gained. You retain flexibility (maybe you'll want to retire in sunny West Palm Beach instead!) and not have to worry about maintaining the property, HOA changes, etc.
 

BurnItDwn

Lifer
Oct 10, 1999
26,169
1,643
126
Like I said, tiny places with big aspirations.
I think in the US, in order to be a city, there are some requirements for existence of a local government.
Usually, a city hall, police department, fire department, post office, a Mayor, some aldermen, public library, hospital, and a school district.

Of course many towns and villages also have many of these functions too.


My favorite "small city" is Sturgeon Bay, Wi.

Sturgeon bay was incorporated into a city in the 1800s when the population was up around 1K.
Its still a city, and now has around 10K population.

The closest "big" city to it is Green Bay which is around 40 miles away with a pop of 100K+.
 
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