Running tally of costs related to buying land

September 12, 2013 — Leave a comment

Inspired by another blog on the subject, I thought it would be helpful to others considering this adventure to detail a running tally of the expenses we’ve incurred on the land so far. Obviously every situation will be different, but it should help the newly initiated get an idea of what they’re getting themselves into. Many of our costs could have been significantly reduced if our home site was closer to the main road. However, our plans for the land are pretty extensive, and a home site in that location would not have served us well. Here goes:

Costs Associated w/ Land
Expense TypeDetailsCost
Perc TestTest holes & required documentation$400
ExcavationIncludes clearing, removing 30+ trees, home site prep & driveway$6,000
WaterTap Fee$700
WaterPermit$200
WaterInstall pipe from meter to home site$1,100
SepticTank & field lines$2,900
PowerOverhead primary w/ underground secondary$3,100
Outbuildings10×16 Storage building$2,700

Of course, this list does not include fuel for visits to the property, which has been a significant cost. It’s about $12.50 each time we drive out, and I’ve probably averaged 1-2 trips per week since we closed on the property back in April. We’ve also had to make various trips looking at sheds, filing paperwork at the courthouse, etc. I’d guess the total is between $200-$400 in fuel costs alone.

We’re still facing several significant costs in our near future including an underground storm shelter, cabling for internet service, earthworks for the garden area and whatever seeds/trees we’re going to plant for Spring. Then there’s the whole issue of selling our house… We have a saying around the office that has helped me through some stressful times:

“You can only do what you can do, and you can only do one thing at a time.” 

These days, those are the words we live by.

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Ken

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