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Today, a couple share how their search for land to hunt deer and ride ATVs led them to a private auction and, potentially, a place to retire.
What was your home experience when you were growing up?
My parents bought a house in the suburbs of Akron, Ohio in the 1980s, and that’s where I grew up. It was a wreck that they fixed up.
Was this your first time buying?
No. My wife and I bought our first house in 2015. It was on 5 acres, but it was urban—not the laid-back, country setting I hoped for.
Why did you start thinking about buying land?
My family and I all like to hunt, fish, and spend a lot of time outside. In my early teens, my dad bought property an hour from our house where we hunted deer. He sold it, and that started my infatuation with land ownership.
What were you looking for?
I wanted anything reasonably priced and located about an hour from our house. The goal was to find a place for deer hunting and relaxing.
How long were you looking?
We were seriously shopping for three years.
What was your search like?
I’m always on Realtor.com® to watch land prices and see what’s available. That gave me an idea of price per acre. In person, we walked from six to 10 parcels. We focused on auctions because the land can sell for well under market value.
Did you make any other offers?
There was a 24-acre property that came for sale. We made an offer, but someone else paid $2,000 over asking price and got it.
How did you find this land?
Ohio has several private auction agencies that sell land, and that’s where I saw this piece for sale. It was a 110-acre farm sold in several parcels. I ended up buying two parcels—a 16-acre parcel and another 6 acres—for a total of 22 acres.
How did you know this was the one?
It’s only 75 minutes from our home and a mile and a half from my in-laws. It also has flat ground, and we were able to buy it for under market value. The 6 acres was a hay field that hadn’t been cut in years, and there was also a power-line easement through the property. At first, I thought I wouldn’t want to look at the power lines, but then I realized how much money that would save.
Where did the down payment come from?
My wife and I both have good jobs and believe in living well within our means and paying off debt quickly. I’m so frugal that I’m stingy. My wife is on the same financial page, which meant we had cash for the down payment.
How much did you pay?
It was $3,750 an acre, so $86,250 total for both parcels.
How does it work to buy land at a private auction?
You put 10% down and pay the rest after a 45-day closing. That gave us time to secure a home equity line of credit for the balance.
What made you decide to build a barndominium?
We found we never had enough time out there. We started staying overnight with my wife’s parents, but we have two big dogs, and it was too much for their space.
What came next?
At first we thought we would buy the 900-square-foot ranch home on 3 acres at the end of our road. I contacted the owner, but he wanted $200,000. I figured that for $200,000, we could do our own thing and it would be much nicer. So we decided to build a barndominium.
Why did you choose to build a barndominium?
We wanted to save money. This style of building doesn’t require a conventional foundation, so the overall cost is less. We also just liked the style.
How did you finance the barndo?
We used a conventional home loan, putting 20% down. By the time we built, we had already paid off the land.
How did you find a builder?
This area doesn’t have a ton of builders, so we just started asking around to see what they’d charge. We found a company that could do custom builds and showed them our plans, and they took the leap.
What was the biggest challenge?
We live an hour away. That means that a lot of times decisions get made for you. We’re still just getting used to the aesthetic of what they chose. For example, my wife wanted timber-frame porches with tongue-and-groove supports, and they did something else.
What are your plans for the future?
We’re hoping to get our hands on another parcel that connects with ours, and use that as a build site for a bigger home where we can retire. Then, because this house has a simple layout and it’s all on the ground floor, this would become a place where aging parents could live.
What’s your favorite thing about this place?
The peace and the quiet is really what I find we need. We never realize how hectic and loud everyday life is until we’re here. I’m ready to have more downtime here to slow down and just enjoy it.
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