saw an infomercial about some land for sale in tennessee

[buckfittyone]

its a residential community that sells between 1-5 acre lots to build upon,there are many state parks in the area,the community even has 3 private parks for its residents,this seems like a great place to build a log cabin,but before i considered purchasing i had to get some of your advice on this place.
the website is www.visitland.com
i know you guys dont really reccomend getting a mortgage to buy the land but i could get an acre and keep the payments around 200 a month wich seems very affordable im in no rush to build so id just make payments and purchase tools untill i was ready to begin the building process.
what i really wanted to know is does this look like a good place to build?is it a good idea to build in a community like this?all i really want is to live in a peacful place away from the city where no one lives on top of each other. does this place look legit or possibly a scam of some sort i never purchased land before ,nor have i ever built a loghome but i will definately goin to one of the classes as soon as i can get time off from work.
i was even thinking i could purchase this property with a mortgage keep making payments,buy another ,much cheaper property with cash to build my first loghome on,then sell it to pay off the mortgage and build another home.this seems like a good idea because i really dont want to miss out on this land opportunity it seems like a really great place,i just want to make sure im not getting ahead of myself.

[zach]

Keep in mind that I have never been to the site in question, never been to Tenessee either.

Nothing appears to scream "scam" out at me. It is a planned community and people do buy land and live in them. If it sounds like a place you want to live then it could work out for you.

I can't answer your question if it is a good idea to build here but I can tell you how to answer it. You should first find out what the value of a sold log home is in that local area you are planning on building on the acreage you are getting. You should also find out what acreage is worth in that area outside the development. If they are selling land much cheaper across the road, it might be a better idea to buy there.

If you decide the price is right, when you put in your offer make sure it is subject all the usual contingenies. You need to make sure that the land is buildable and that you can build what you want there. Although the lots there have power, you also need water and sewer.

The fact that they are willing to fly you out and have an infomertial isn't a big red flag but it is a big green one with a dollar sign on it. I mean they have to pay for that somehow.

[momconn]

I haven't bought my land yet, so I'm no expert. But here's my 2 cents' worth anyway.
I, too have been looking at lots of subdivisions like this. Things to consider:
-- Will they let you put up a temporary structure and/or camp on the land while building? (Most subdivisions won't...this one doesn't allow mobile homes, so that leaves out the trailer option.)
-- Is there a time limit on how long you can take to FINISH building once you start? (Most places I've been to want you to finish within a year so your neighbors aren't looking at an eyesore for too long.)
-- It's been my experience that once a developer gets hold of a place, the prices are much more expensive than if you'd gotten similar land from an individual. You pay for the developer's marketing costs, and any improvements he puts in (roads, getting utilities to each site, community pool or common areas, etc.) Some of that you might be willing to pay for because it's something you'd have to or would want to do yourself anyway.
-- They quote mortgage rates and payment amounts on their web site. Keep in mind you can probably get similar rates from a local bank anywhere you'd choose to buy.

So...I know nothing about this company specifically, but I'd just look around to make comparisons. It IS a very pretty area of the country. I'd google the town names and any other areas you're interested in and see what comes up.


Mary Jo

[buckfittyone]

good advice,ills search around for cheaper land in that area,i talked to my brother and showed him the site and the prices,he says that those prices listed are pretty good,he says acres in virginia cost twice as much as what i showed him but im sure prices vary greatly in different areas.he recently bought some land and built a stick frame home on it and is ready to sell,i want to convinve him to build a loghome with me but i dont think hed want to.
also ill definately look what kind of temporary shelter i can put up if any

[Basil]

Any time you purchase in a subdivision or in a planned community, be prepared for all types of regulations, restrictions, and eny number of people telling you what you can and can't do with your land. I found property in kentucky without county wide zoning, taxed as agricultural use land at a max value rating of $500 per acre, and without restrictions. Most of america is still this way. If you have the whole country to decide from, buy agricultural land without restrictions and save yourself all manner of frustration.

[buckfittyone]

im glad i posted here for help first,i did a little searching and as nice as this place is,its pretty over priced and there are too many restrictions to deal with,i found some very nice land also on the cumberland plateau for waay cheaper but there are still many restrictions,if anyone has some info on were i can buy some agricultural land for a nice price anywere in the country im all ears but i prefer to live in the southeast region of the country.
basil thats a sweet price you got your land for,was there a minimum of acres you had to buy?did your lot have trees on it?i would really like to live in a wooded area close to some preserved natural areas.

[Basil]

There's a lot of land in southeast and southcentral kentucky for less than I paid. Close to me is Mammoth cave natl. park, and it's in an area where land sells fairly cheap. Also, eastern kentucky can be cheap but as you get toward the coal fields you have to make sure you get mineral rights along with surface rights, or you could wind up with a mine on your land!

I wnet to a land auction once in metcalfe county kentucky where the land sold for $800 per acre. It was really rough land though.

I was referring to the rate the land is taxed at when I listed $500 per acre. I paid $1600 per acre for the purchase at a bankruptcy sale, and that's cheap in this county. Kentucky taxes agricultural land based on the type of soil and $500 is the maximum per acre. So I don't pay a lot in taxes compared to other types of land.

[mometal77]

I read an article on most small towns that have cheap land. Usually they have steady work but acres 100s with not a lot of residence. I mean we visit new york and its hard for a person to imagine some out here even owning ten acres let alone 100 right..
bob