It’s always land value plus house value. A friend of mine bought an old farm house on a large piece of land for less than a used car’s worth. Why so cheap? The land would be worth a fortune alone, but the farm house was a few hundred years old (take that, USA!), in a bad shape, and listed as a protected building, i.e. he had to do any kind of “making it habitable” under close scrutiny of bureaucrats and historians. The family worked their asses off every weekend for over a decade and spent a fortune on historically correct materials.
Somebody you know is selling an acre of land on a lake, not a shed. This land is probably worth that much with no improvements at all
Op doesn’t understand how badly mfers want to live on a lake in the woods. Electrical and a shed is a bonus.
The acre and the boat slip. The dock fees in lake anna are $1,300 a year the slip alone is worth at least $60,000
It’s always land value plus house value. A friend of mine bought an old farm house on a large piece of land for less than a used car’s worth. Why so cheap? The land would be worth a fortune alone, but the farm house was a few hundred years old (take that, USA!), in a bad shape, and listed as a protected building, i.e. he had to do any kind of “making it habitable” under close scrutiny of bureaucrats and historians. The family worked their asses off every weekend for over a decade and spent a fortune on historically correct materials.
I mean it has electrical service, water, and either sewer or septic. Still feels a little high but a full acre on a lake is valuable