Tiny Home Land Near Me – Can I buy land in Portland and build a tiny house on it? February 8, 2021 in Portland Real Estate
Let’s cut to the chase: You can’t buy land in Portland and put a tiny house on it.
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If you want to do this, you’ll need to be outside of Portland’s city limits. And in fact, you can’t do that in ONE city in Oregon. If you want to build a tiny house, you will probably need to find a rural area.
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Can I buy land in the Greater Portland area within walking distance of Portland?
Banks are unwilling to lend only to uncultivated land. Basically, banks lend money they feel they can get back, and raw land is a bad value for them. Here’s a way to look at it: If you stop paying your mortgage, you’ll keep paying the mortgage on the house you live in, and you’ll stop paying the mortgage on the land you don’t need. And of course, this does not benefit the bank. Therefore, banks rarely lend to raw land. (Some builder loans exist, but they are so specific and restrictive that they are not commonly used in this market.)
Another disadvantage of raw land is that it usually has no utilities. There will be no water, septic or electricity, and these things are expensive to install. There are some rugged areas in the country where these utilities are not even available. If you decide to go this route, you should do your due diligence and check with the county what you are getting.
If you have the money, you might be willing to spend at least $150,000 on land so you can build a tiny house. There are some lots out there that look like $40,000, but you can’t build on them. If you have the money, you need to work with a realtor who knows the land well – you can’t just use any old real estate agent! (I have great referrals for agents if you’re interested in doing so – get in touch and I’ll be happy to hook you up.)
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In this post, you need an agent who has experience in rough terrain and knows what they are doing. Your agent should understand local building codes and laws, and there are many counties that do not allow construction of anything that will be a short-term rental. (Thinking about building a tiny house and turning it into a cute Airbnb! That’s not allowed!)
Okay, now let’s say you get a nice piece of land. Then you need to buy and/or build a tiny house. When people talk about tiny houses, they are talking about a 200 square foot house on wheels. They start at around $60,000, and they still need a water connection and a way to deal with sewage. However, what I often see is people spending $150,000 to $350,000 more for a tiny house. (See this resource at Propel Studio on how much it costs to build a custom home.)
If you have read all of this and are interested in buying land for ANY tiny home, I can put you in touch with a local real estate professional who can guide you through the process. Get me here! By Mary Van Curen Mary Van Curen Insurance Coverage Expert • Auto Insurance • Life Insurance Mary Van Curen has spent the past five years writing for coverage.com, specializing in home and auto insurance, and Simple Dollar. insurance He has also written extensively for consumer websites, including Reviews.com and Slumber Yard. Before that, he worked as a writer in academia for several decades. Read more Connect with Mary Van Curen on LinkedIn Contact Mary Van Curen by Email Mary Van Curen
Natasha Cornelius Editor, Natasha Cornelius, CLU Editor II, Insurance Tape Expertise • Life Insurance • Auto Insurance Calendar 10 Years of Experience Natasha Cornelius, CLU, Editor of Auto Insurance, Home & Life Insurance. Read more Connect with Natasha Cornelius, CLU on LinkedIn Close Linkedin Natasha Cornelius, CLU
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