Purchasing Land

[YoMan]

I am trying to gather some information on purchasing, or how to purchase hunting land.

Im thinking anywhere between 80 acres to 150.. would like a pond of some sort for waterfowl and wooded areas for deer.. I've seen some adjacent to WMAs which are really nice, but they are posted here and there..

Also, is purchasing land similar to buying a house? Are there any ups or downs regarding to financing etc..

tia

[Bear55]

Check out this thread.

http://www.fishingminnesota.com/forum/ub..._MN#Post2025911

[Go2fish]

If you buy next to a WMA plan on someone else is in your deerstand most of the time, in your duck blind before you, and phesant hunt while you are there and while you are not there....or at least that has been my experience...and yes it is posted every 10 feet along the property line. Razor fence is next....Do not underestimate how rude and inconsiderate people are.

[YoMan]

I meant next to state land rather than WMA.. I guess its the same though.

[InTheNorthwoods]

Here is my opinion on the matter, in order of importance:

1. Determine how much money you have for a down payment.

2. Determine how much you can comfortably afford a month in finance payments. Remember, its hunting land and you will have other, more important, month to month expenses.

3. Determine if you can afford the intial investment and payments after 1 & 2. Then determine the carrying costs of the land. Taxes, maintenance, any cabin, trail making, gas, electric or food plot expenses?

4. Determine what you want out of the land. A place to get away? A trophy producing piece of land? Something to use a couple weekends a year? Somewhere you can retire? Build a cabin? Etc.

5. Weigh your intended use against your intended investment and required carrying costs. Is it still worth it?

The big thing is, don't overspend and let your dreams of your own prime land get in the way of your enjoyment of hunting. Sometimes the cost can become a burden. If its trophy animals you, you are better off taking 2 guided trips a year likely at the same cost. If its about a place to get together, spend a bunch of time, build from the ground up - blood, sweat and tears type of thing, then go for it.

Having land is great, but in the end, you need to be realistic about your expectations.

Now, if money is not an issue, swing away!

[YoMan]

I know where your coming from InTheNorthwoods..

Unfortunately money is an issue : ( but my dad, brother, and I would be going down on the land together.

It would definitely be a tradition thing for the family. I figure this investment should hold its value in time, much more than a sports car at the moment.. but then again I have been looking at this ice castle too lol..

[InTheNorthwoods]

I know where your coming from InTheNorthwoods..

Unfortunately money is an issue : ( but my dad, brother, and I would be going down on the land together.

It would definitely be a tradition thing for the family. I figure this investment should hold its value in time, much more than a sports car at the moment.. but then again I have been looking at this ice castle too lol..

If thats the case, its totally worth it. Make it about the family gatherings, tradition and time in the woods, and its worth it. It can be an investment, but I like to think its an investment that will never be sold.

[Tom7227]

This has been discussed before. If you get into a deal where there are multiple owners be sure to get worked out in advance how things would be divided when that time comes, and it will. My advice is to talk to a lawyer about that subject well before you get all heated up about a particular piece and then get all parties to agree in writing before any purchase is made. you will save incomprehensible problems down the line if you do this.

There was a long thread on this about 3 months ago - try doing a search to see if you can find that thread as there were some great ideas contained in it.

[WaveWacker]

I would have to advise to look very closely (causiously) at land that is adjacent to Public land. Not that it's bad and as your thinking, would be a bonus to have "free" land that you can utilize. Is it readily accessible by others is what I'm thinking. May end up with people right on your line.

If you can swing it however ($$ wise) you definately won't regret it. Once again, local realtors or put an add in the local papers.

[titelines]

This has been discussed before. If you get into a deal where there are multiple owners be sure to get worked out in advance how things would be divided when that time comes, and it will. My advice is to talk to a lawyer about that subject well before you get all heated up about a particular piece and then get all parties to agree in writing before any purchase is made. you will save incomprehensible problems down the line if you do this.

There was a long thread on this about 3 months ago - try doing a search to see if you can find that thread as there were some great ideas contained in it.

This is great advice. My buddy is a lawyer and specializes in trusts; specifically for cabins, hunting land etc. It's all he does and knows exactly what you need to do. You would not believe the problems multiple owners (especially within the family) can cause if you don't take care of this up front. The good news is that it's all avoidable, and relatively easy to do. We did it for our cabin, and rest easy that it will not be an issue when the day comes.

[gurkster]

Nortwoods hit it - make sure you can afford it and you are realistic about its uses.

I just sold my hunting land of 10 years and I am looking to buy new. Here are some things that I learned.

- Mine bordered 200 acres of public land, which was great. The public land was land locked by about 5 land owners. The other owners all had 100+ acres so I was really the only one on the public land (County tax forfieted). But as others have said if that public land is a WMA or well known destination spot - it could really be a negative. In my case it was great, but others did hit it too, just not real hard.

- Useage. Mine was about 1.5 hours away from home, so not bad. I had great expectations of being there all the time, etc. But with a job, wife, kids, other interests, etc. It was not a year round destination. We made good use of it, but it became really just hunting land used a few days over the course of a couple months. (10 days a year average).

- Investment. I added a very simple but weatherproof cabin and outhouse (a deer shack). As well as ownership of 10 years, so I made some decent money on it. I am now trying to do it again, buy a little more land this time, improve it over time, etc.

- A big negative is that, that is where you hunt. Game patterns and populations change year to year but your land is yours and always the same.

Overall I enjoyed it and am looking to do it again. For me it was the idea of having a place to get away to, tinker with the land, build the cabin and stands, hunt private land, etc.

GOOD LUCK on your search.

[luckey]

Several people mentioned this but it's worth repeating. If you go together with others, sit down and work out the details. Biggest issues will be.

1. What if one guy does most or all of the work?

2. How are costs shared?

3. You have one kid, brother has 3. A few years down the road he brings 3 kids, 2 with spouses to the land. Problems.

4. What if one wants out. Divorce, death, remarry etc.

[titelines]

Good points Luckey - Those are exactly the types of things that blow up over time, and can cause HUGE rifts within families.

All those issues, plus any others that you can think of, can be worked out with a trust. The only thing limiting a trust is your own imagination. They're not cut and dried, you can literally draw them up any way you want.

[luckey]

titelines, that reminded me of one more.

How will you have the land titled?

A. Joint tennants

B. Tennants in common

C. Trust

D. LLC

E. Other

Each method has it's advantages and disadvantages.

For instance, if it's "joint tennants" and one dies, that persons heirs will own his share. (could be a new wifes kids)

If it's "tennants in common" and one dies, the others own his part. (heirs are left out)

Please note: I am not a lawyer so this is just my understanding