Should I buy land near Virgina Beach, VA ?

bean · 05-09-2012, 11:45 AM

My wife and I had an idea to purchase some land (1 acre) near Virgina Beach, VA. We would use the land to park our RV when on vaction. Then when we retire in 20 years either sell it or build a house on it. We would also let our family members use it for their RVs too.

My questions are:

Is it possible to get land within 5 miles of the beach that has no (or very low) fees ? (HOA, POA, Sewer, Water, etc) We are looking to spend $40K or less.

How much would it cost to install a private well and private septic system ?

If there is a rule against mobil homes, does that mean we cannot park an RV there for a week ?

Is this a stupid waste of money rather than an investment ? I think property prices are pretty low right now.

Thanks for any advice you can provide.

Bean

cfsoistman · 05-09-2012, 12:01 PM

I'm figuring you meant to type Within 5 Miles of the Beach. You need to figure approximately where the location will be and look up on line the prices of land for sale in that general area. Then there's zoning regulations, which will be the biggest hurdle for what you want to do. Look for realtor around that area and they should be able to help you find out the information you're looking for.

LadyWindrider · 05-09-2012, 12:03 PM

Can't help much, but I'll offer this, make sure you get your questions answered. For 40k, I doubt you can get within 20 miles of Virginia Beach. Make sure you can get water, power, and sewer. Make sure can park a RV, not mobile home. Some places let you park a mobile home, on blocks, axles removed, and underpinned, so make sure of what you are asking. Don't mention fiends and family using it, then it might become "rental" property. Make sure of the taxes, can you afford them every year. Who is going to mow when you aren't there? Can you get hurricane and flood insurance on your RV?

Now another thing, if you leave food in the fridge, and the power goes out, what happens?

Not trying to take the wind out of your sails, but I kept my camper 125 miles away, on private land, full hook-ups. It was nice, and it was a pain. Never enough tools. Always planned one more wee-end in the fall, just to have to leave work and make the round trip to winterize. Having to go and mow, check after storms........etc.

You should start searching the internet for Va. Beach, see if you can find some of the city ordinances as for buildings/housing. Also get in contact with a realtor, and see what might be available.

Good Luck.

bean · 05-09-2012, 12:54 PM

Windrider,
We are not planning to leave the RV there. Just use the land and servies for a vaction week. So the RV would only be there for 1 week per year.

Bean

LadyWindrider · 05-09-2012, 02:20 PM

Not leaving RV there? Sorry, I misunderstood. Thought you would be leaving RV there for others to use. Definitely cheaper just to camp in a campground. Water sewer, power, are going to cost at least a minimum per month, if you leave them on. If not, there will be a connect/disconnect fee each time. Even leaving utilities on 6 months of the year, still will get to be pricey. I did talk to my neighbor who had a well put in last week. $10 per foot, plus casing, plus $450 permit. Got lucky, only had to go 200 feet, about $5000.

Good luck with your decision.

Triguy · 05-09-2012, 02:46 PM

Bean,
Let me make sure I read this right. You want to buy an empty lot near Virginia Beach, keep it undeveloped and camp on it periodically for the next 20 years?

If that is the case, I think you also need to ask yourself what your neighbors are going to think of that? I assume land that close to the beach is not in the boonies but rather in a fairly developed area or a neighborhood with houses already trying to hold their own value.

Whether or not its a good investment is a problem. No one knows the property values and appreciation/depreciation as well as the locals. I assume you know the area so you might talk with them.

I'd imagine you will run up against municipal restrictions for what you are trying to do. Maybe if you bought in a mobile home park, or bought a permanent spot at a campground designed for this, or in the boondocks.

I know plenty of people who go the boondock route but its nowhere near a desirable spot like Virginia Beach.

Just trying to be realistic.

**Herk7769** · 05-09-2012, 03:03 PM

Look the guy has dreams.
Not our job to drown him in cold water.
Reality just sucks sometimes.
Dreams are so much better.

I have a neighbor who is 63 years old and still dreams of quitting his job and starting his own business. He has no retirement savings and will need to work for someone till he dies. I always look at him and nod my head when ever we get "tuned up" and the subject (inevitably) comes up.

Triguy · 05-09-2012, 03:19 PM

Call me "dream crusher"

Actually, I'm going to be really jealous when Bean comes back and tells us he figured out how to make it work.

**Herk7769** · 05-09-2012, 03:58 PM

Quote:

Originally Posted by Triguy

Call me "dream crusher"

Actually, I'm going to be really jealous when Bean comes back and tells us he figured out how to make it work.

I, too, will be kneeling at the feet of the master...

TURBS · 05-09-2012, 04:11 PM

"TUNED UP" IM IN! Put me in coach!

bean · 05-10-2012, 09:06 AM

Okay, maybe 5 miles IS out of the questions.
I found this place 15 miles from Ocean City MD.
11819 Steam Mill Hill Rd, Whaleyville, MD 21872 MLS# 475301 - Zillow

I would prefer VA, but MD is okay and it's closer to where I live (PA).

Thoughts...

Bean

grayfox · 05-10-2012, 09:29 AM

Quote:

Originally Posted by bean

Okay, maybe 5 miles IS out of the questions.
I found this place 15 miles from Ocean City MD.
11819 Steam Mill Hill Rd, Whaleyville, MD 21872 MLS# 475301 - Zillow

I would prefer VA, but MD is okay and it's closer to where I live (PA).

Thoughts...

Bean

Bean, Just remember you'll be moving from a retirement friendly State to a high the high tax state of Maryland. Hopefully they'll have much more tax help
for retirees by then. I moved from MD. to PA when I retired 6 years ago. Not trying to put a damper on your plans, you just need to know some of them pitfalls before you make what could be a life changing decision. IMHO

Triguy · 05-10-2012, 09:37 AM

I think that looks great, Bean. Looks like it was last sold for $20K in 2008 so he's asking for a bit but your Realtor would need to do provide some comps.

In our area, I see sales like this of old farm houses. Sometimes as a tear-down and rebuild and sometimes a pole barn for storage. We've considered doing the same thing on old farm land in Door County, WI and camping on it periodically but haven't pulled the trigger just because we still want the variety of traveling to different areas.

Really, you should do it if that's what fits best with your lifestyle.

whj77372 · 05-10-2012, 09:54 AM

For only one week a year for 20 years. I would think that even if you could work out the water, sewer and power issues and there are lots of problems with those, drilling for fresh water that close to the salt water ocean, a septic system here in SE Texas that would meet your needs in about $6,000 and I would bet that it will be more in VA and if you are a long distance from power poles, then you will have to pay to put some in, I would think that you will be some distance from power because if you are near a subdivision they will likely not let you park an RV.
I would come up with ideas such as this and my DW would always say no. IMO I think you would be better of investing the money else were and just pay for a compground for that week. I did something like this a number of years ago with the idea that family members would use it but people get busy with their lives and they didn't use it. Good Luck

whj77372 · 05-10-2012, 10:05 AM

I would think that they would not let you put an RV there, but if they do, twenty years is a long time, are you sure that you would want to build a home there and live there?

**Herk7769** · 05-10-2012, 11:30 AM

Quote:

Originally Posted by bean

Okay, maybe 5 miles IS out of the questions.
I found this place 15 miles from Ocean City MD.
11819 Steam Mill Hill Rd, Whaleyville, MD 21872 MLS# 475301 - Zillow

I would prefer VA, but MD is okay and it's closer to where I live (PA).

Thoughts...

Bean

Another cold splash; but here goes. Almost impossible to finance vacant land. It will most likely be a cash deal.

Also ditto to PA tax friendly; MD not so much.

grayfox · 05-10-2012, 11:42 AM

Quote:

Originally Posted by bean

Okay, maybe 5 miles IS out of the questions.
I found this place 15 miles from Ocean City MD.
11819 Steam Mill Hill Rd, Whaleyville, MD 21872 MLS# 475301 - Zillow

I would prefer VA, but MD is okay and it's closer to where I live (PA).

Thoughts...

Bean

I think what everyone is saying here is MAKE AN INFORMED DECISION. check
out all the things that could be pitfalls before you commit... covenants, restrictions,taxes, utilities and find out as much as you can about the area before you sign on the dotted line. Then you can feel good about your decision. Hope it all works out well for you... good luck.

bean · 05-10-2012, 12:17 PM

I would like to thank everyone for your comments.
We are just "looking into" this, and you've all given me things to think about.
As far as taxes go...Maybe I'll look into southern delaware. I hear that Delaware is pretty tax friendly.

As for the financing, our house is completely paid off, so I could take a Home Equity Loan for the land if I had to do that.

I'm basicly looking to buy the land to retire on, but would like to use it with the camper in the meantime. Unless I want to boondock for a week, that doesn't sound likely. Don't know if I want to boondock for that long.

Bean

**Herk7769** · 05-10-2012, 12:20 PM

Quote:

Originally Posted by bean

As for the financing, our house is completely paid off, so I could take a Home Equity Loan for the land if I had to do that.

That is how my brother had to do it when he bought some hunting land in upstate PA. Right before the gas drilling took off. He did ask if I wanted "in" but silly me said no.

grayfox · 05-10-2012, 12:40 PM

Quote:

Originally Posted by herk7769

That is how my brother had to do it when he bought some hunting land in upstate PA. Right before the gas drilling took off. He did ask if I wanted "in" but silly me said no.

Herk is exactly right. I bought my first piece of property in south western PA in 72... WOW can't believe it. I added more property over the years and it turned out to be a good investment. With the economic environment we have today hopefully you can buy the property at a real good deal. You never know what can happen with values in the future... the values could explode upward. Just do your homework you'll be fine.

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