Vacant land in the Hayward area of northwest Wisconsin has always been a popular investment. Currently, there is a good inventory of available parcels at decent prices.
There always seems to be a lot of land for sale until you actually start narrowing down your search to exactly what you want.
Finding just the right parcel can take some time and diligence.
The larger, off-water parcels, 10 acres and up, typically range in price from $1500 to $3500+ an acre depending upon many factors such as; location, quality of wood products on the land, terrain and availability of utilities.
Choosing the right parcel will depend on your intended use for the land. Good hunting land is always desirable in the northwoods – some look for land near farmland or close to public/DNR lands. Large tracts with rolling terrain containing some prairie and a wooded mix of both hardwoods and softwoods, seems to be the most sought-after hunting land, and usually brings a higher price with it. Parcels where the timber was recently harvested are often listed for sale-these can offer great hunting for a smaller price tag.
Some want large acreage parcels to build on and ensure their privacy. Privacy can cost you money in the form of high costs to bring electric and other utilities to your home site. Cutting in a driveway through a large parcel can be costly too, along with maintenance of it afterwards.
Inquire as to whether or not a parcel is enrolled in the Wisconsin DNR’s Managed Forest Law program. These programs offer owners a lower tax rate for enrolling their land in a long term forest management plan. The ‘open’ program has the lowest tax rate but the land is also ‘open’ to the public for recreation/hunting, with some restrictions. The ‘closed’ program’s tax rate is higher, but then the land is not open for public use. Both are long term commitments which can be costly to get out of if new owners don’t want to participate.
Small parcels widely vary in price – again due to location, availability of utilities and building suitability, but in general, the smaller 5-10 acre parcels and residential building lots can, per acre, be twice the cost and more, of the larger parcels. In-town parcels offering municipal utility service can cost more than raw, rural land
Waterfront lots are in a league of their own. Pricing is highly dependent upon the quality of the waterbody and the parcel’s lakeshore attributes. Always choose a waterbody that is going to allow you to do the activities you enjoy, then buy the best frontage you can afford. A half-acre lot with low elevation on a clear-water premier lake can bring top dollar of $300K+, whereas a larger parcel with higher elevation along the undeveloped banks of a river or small lake is usually available in the lower price range of $40-$100K.
Buying vacant land with the intentions of building a cabin or home on it raises many questions for the buyer: Is the lot buildable? Where can I build? How close to the water can I build? What kind of septic system can I have? Can I camp on the land until I build? Call me – let’s talk more. Its important to identify what your goals for the parcel are- and once the right property is found, to write an effective offer that both gets accepted by the seller and protects your needs.
Financing a vacant land purchase is usually through a 3 to 5 year adjustable-rate loan. Our local Hayward-area lenders are a great resource for your financing needs. They understand the vacant land market in this area and are well-versed in the complexities of the land loan process.
I’ve sold many land and waterfront parcels and have the experience to guide you through your search and purchase. Call me so we can talk more!
Below are helpful links and other info on this subject. Stop back often as I plan to add more to this list as my website grows…. enjoy!