posted on Sep, 20 2011 @ 07:47 PM
I own land, and I am not an elite... just a country boy that did OK for himself.
I have land in 3 counties... some is for pleasure, some is for a farm, some is for timber and income.
I pay property taxes on the land...they are county taxes. These taxes pay for the roads and upkeep of the county so I can get to my land... bridges,
right of way maintainance, pot holes, sheriff's patrol, etc. I don't mind paying them, they are reasonable...
One years taxes on any one piece of property is way cheaper than me paying someone to snowplow a 17 mile stretch so I can get to town.... most heavy
equipment operators charge at least $100 bucks an hour...and that is from the time they get in their truck...at their house. It is also cheaper than
having to pay a private security firm to patrol my community...
Federal Taxes...in NC, property owners pay no Federal Taxes until they sell their property, and then it is only on the Capital Gains on the
profit...this does not include Residential Property that one has a s a primary residence for at least 5 years...then you pay NO Federal Taxes on the
Maybe I missed something in your OP... you can afford property...the key is to buy low and sell high and be willing to sit on it until you can sell
it...maybe years or even decades.
Do your research and look around and learn everything you can...you can buy land. If you are willing to move, there are some good bargains. I bought 3
acres 14 years ago...got a 15 year loan, and the monthly payments amounted to less than 5 dollars a workday per month...less than a happy meal... next
year the property will be paid for...and it parallels a county road that by 2014 will become a 4 lane highway into the country of north central NC.
As for land use, when you see land just sitting there, it is being used. it is a private piece of property and it is a commodity. It may look useless,
but it may be a tree farm. I have some timberland that will be ready for harvest by the time I retire.... at today's market value...it will bring
between $2000-3000 dollars an acre. Until then, I am fencing it in and am raising goats... two commodities or crops on the same land.. adds a new
meaning to going "green."
My point is, YOU CAN DO what I did and not be an elite. You just have to use your money wisely. You don't have enough money? Well, you could do what
this "oppressive capitalistic corporatist dictatorship" forced me to do... get a part time job or jobs in addition to your regular job. Also go to
night school and take a real estate class..
Look around...in southside Va and north central NC there are houses for sale for 29,000-39,000-49,000 dollars.... 20-30 acre farms for sale under
100,000 dollars....small acreage for under 10,000.
I bought coastal property on the Pamlico Sound for about what a new pick up costs....
Land ownership is possible...save, learn, do your homework...and you can be one of the "elite" also.