July 2019 United Country Real Estate

HOW TO BUY

Establishing a budget

for your first hunting property

by Josh Honeycutt

sweat equity into it, you can get discounts on properties that have no improvements,” Priest continued. “Maybe the box stands and food plots aren’t already there. Maybe it doesn’t have a camp or a structure. Maybe it has no ponds, trails or roads. These improvements makes your investment more profitable if you do the work. It will appraise for more once those things are done. You just have to decide if you have the time.” 3: DoYouWant to Add Extras Such as Cabins and Utilities? Not every tract comes with housing and utilities. It’s important to know what you want in a property before you begin the search. This will make the process simpler and sets parameters before you dive in. “When you talk to your Realtree land pro, you need to tell him or her your goals and expectations,” Priest said. “This will help steer him or her toward the right property and the land you’re looking for. Doing so might help them to open up your mind to things you haven’t even thought about. about a land purchase, you need to ask yourself if you want a cabin or if you want to bring family and friends there,” Priest continued. “A lot of the times, a property that doesn’t have any utilities is much cheaper. Maybe you’d be okay with a property you “As far as extras, when you begin looking on the internet and thinking

While it’s gotten harder to find that perfect property, it’s not impossible. It just takes a little work. Luckily, Realtree United Country’s land pros are here to represent you. Realtree United Country’s Slade Priest is one such land pro. “This is one of the first questions that comes up in a real estate conversation,” Priest said. “The client decides they wants to buy some hunting land. Well, okay, what’s your budget? Your budget is a lot different than just how many acres you want. This 100-acre property might be double the price of a different 100-acre tract. There are all sorts of factors.” Hunting land. We make memories on it. We fulfill dreams because of it. We build lives around it.

1:What’sYour B Payment Goi The big question the maximum a

udget and Down ng to Be? is budget. What is mount of money you

want to spend when all costs are paid for? Don’t just think about budget in terms of the property listing either. There are other costs in play. “Everybody usually knows how much they can spend up to,” Priest said. “But remember, whenever you decide your budget, different banks require different amounts down. Banks will require at least 10% down, and usually it’s about 20%. That’s with pretty good credit. If you have bad credit, that’s a different conversation. There are also ways to use equity in your home as a down payment.” 2: DoYouWant aTurn-Key Property or Something with Sweat Equity? The next step is determining whether or not you want a ready-to-hunt property. Depending on your budget and goals, you might rather buy a cheaper property and put some sweat equity into it. “Turn-key properties are becoming more demanded because we live in a fast-paced world,” Priest said. “We don’t always have time to put sweat equity into a property. It’s nice to show up and all you have to do is hunt. “On the other hand, if you’re someone like myself who would rather buy a property and put some

o, t e rst step s to account or numerous factors land buyers must consider. And it all boils down to budget. Here are seven questions you need to ask and address as you begin the search for your first piece of hunting land.