[advice request] large nearby parcel, many complications
My wife and I live in town in NH. We own our house (a duplex) and have got a line on a raw land parcel 17 minutes and 3 right turns (including leaving driveway) away.
It has many of the things we want:
- brook (on property line)
- long range views
- direct access (well from the town maintained road)
- south east facing
- price is doable
But there are also some real challenges:
- the driveway has a wetland permit and needs some big money work and it is expiring in a couple years. Crossing the wetland portion has been quoted at near 100k. The rest of the driveway was roughed in eons ago but has since returned to grass and hemmed in by second growth trees
- ledge is visible in many places on the property which could complicate well, septic, foundation, and driveway construction, but we don’t
- the forest has not been well managed
- there is a lot of “partially hydric” soil based on the town maps
- power and internet are at road but the cost to bring them in (eventually) is high. This makes potential resale less palatable
- it is on a state highway (also a good thing) and there is some (low to moderate) road noise on the portion of the property equal in elevation or above to the road
At the price that we are negotiating it will be about $2400 /acre. We can pull off the purchase financially and still maintain most of our lifestyle, though to make the down payment we are going to tap some of the principal of our Roth IRAs. However in a couple years when the driveway would need to get started the financial calculus becomes more difficult (though still manageable). And this is all before we get to building cabins and, maybe, eventually a house that makes use of the big view.l in retirement.
We are ok with this being a strictly recreational property for different lengths of time: me for probably 5-8 years before we build an offgrid cabin (in the meantime we put in a latrine, some tent platforms, maybe a woodfired sauna) then in 20 years (when kids are off at college and beyond) build the roadway up to the view and a modest but modern house. My wife is less convinced that she wants to build anything past cabins there. She is not even sure putting in the wetland driveway makes sense, we are allowed to cross on foot or occasionally in a vehicle, and we could just cart in any materials we need.
Having never done this before I wanted to get your wise takes on the subject. The property market is tight where we are and really the only reason we have a shot at this is all the issues the property has.
I will gladly take any advice and perspective you all have.
Thanks!
Posted Mar 16, 2022, 12:00 AM UTC
[deleted]
The permit is already written and the plan has been drawn up and approved. It does lapse in a couple years but my read is that it can be easily extended for another 5 by filing a form, but it may take an Army CoE or wildlife assessment.
I would be concerned that environmental and land use regulations might change threatening future permit extensions.
You should have an exploratory talk with your country permitting people about this. In my state, anyway, wetlands permits are harder to get every year. A road or bridge that passed 20 years ago is often not permittable now. Once it degrades past usability, you literally cannot get there from here.