Looking at building a homestead

[Cableguy]

Thanks man. Did some more research on this, if I am interpreting bc assessments language correctly under 1.98 acres I’d only need 2500$ farm profit annually, and this can be done with xmas trees live stock etc.

Not really sure how much Xmas trees or shrubs go for but a guy could also do a bunch of free range eggs I suppose lol

I meant more so just for property tax at farm rate, I wouldn’t be able to give up my current gig and live of farming lol

under 2 acres needs $10g revenue
not profit
over 2 acres needs $2500 revenue
This is for bc asses farming

 

[gdhillon]

under 2 acres needs $10g revenue
not profit
over 2 acres needs $2500 revenue
This is for bc asses farming

Ok so does that mean I could ‘spend’ 10k to bring in 10k?

Weird how revenue requirement is lower for less then 2 acres

 

[Cableguy]

that's how most farming works

 

[X-it]

This is really not out in the boonies, city limits ends about 1 to 2k up the blackwater rd. Gas and electricity is available, water and sewer is not. Not really a bug problem as well. If you build make sure and plumb that house for sewer so if they extend it out there, all you have to do is tie in. I usually go out that way to do repairs to aces k-9 which might be 1k from your land as the crow flies. That goat trail off of blackwater leslie rd goes to the kennel. The water seems okay out that way.

 

[gdhillon]

This is really not out in the boonies, city limits ends about 1 to 2k up the blackwater rd. Gas and electricity is available, water and sewer is not. Not really a bug problem as well. If you build make sure and plumb that house for sewer so if they extend it out there, all you have to do is tie in. I usually go out that way to do repairs to aces k-9 which might be 1k from your land as the crow flies. That goat trail off of blackwater leslie rd goes to the kennel. The water seems okay out that way.

That’s a good idea to pre-plum it, thanks man

Yes, just outside of city limits which is pretty sweet for getting to work etc

I know what k9 place you’re referring to, good to know it’s not bad for bugs as well. Do you know if there’s gas down Leslie?

 

[X-it]

That’s a good idea to pre-plum it, thanks man

Yes, just outside of city limits which is pretty sweet for getting to work etc

I know what k9 place you’re referring to, good to know it’s not bad for bugs as well. Do you know if there’s gas down Leslie?

Well there is 4 gas furnaces in the kennel and the house next store has a gas furnace, but weather the gas line goes down that dirt goat trail towards the blackwater rd i am not sure.

 

[gdhillon]

Ok thanks man, I’ll inquire with fortis

 

[Lem Lamb]

Build small too keep development permit cost low,,, then do add-ons

Instead of paying $22.967 dollars for your 16.000 ft shop do it in 8000 ft developments...

$465 bucks for the 1 shop,,, once complete go back in and drop another $465 bucks for the next 8000 ft shop...

Build them side by side,,, tear out the pony wall or big shop door between...

Save a few bucks...

Each country and district will have set fees per foot,,, the trick is too get the permits at their lowest costs

10 too 1 the government agencies change the rules over the years...

 

[sledn]

Taxes on a new home build will be double that of a renovated existing home. All utilities will be included. Any improvements and renovations can be repairs- no tax increase. New acreages are crazy expensive to build with the new rules. A lot of renos can make another property nice. Very tough to buy land,install utilities, build a new home and shop - under $1,000,000 now days.

 

[X-it]

Ok thanks man, I’ll inquire with fortis

Well they do have this interactive map instead of calling them you can schedule them to run gas line for you. Last time i had a line run for the 3 of us something like 1k it was 750 dollars each lot but that was a while back.

FortisBC

 

[DaveB]

Taxes on a new home build will be double that of a renovated existing home. All utilities will be included. Any improvements and renovations can be repairs- no tax increase. New acreages are crazy expensive to build with the new rules. A lot of renos can make another property nice. Very tough to buy land,install utilities, build a new home and shop - under $1,000,000 now days.

Exactly why I am staying where I am now even through recent financial ex-wife events. “We” built it, but I am staying.

 

[2kDoo]

Taxes on a new home build will be double that of a renovated existing home. All utilities will be included. Any improvements and renovations can be repairs- no tax increase. New acreages are crazy expensive to build with the new rules. A lot of renos can make another property nice. Very tough to buy land,install utilities, build a new home and shop - under $1,000,000 now days.

this was my experience last year. at 180k for 2 acres then having to develop land and utilities would bankrupt me. Bought a place for 400 and put 100k into into. Still ahead imo. Could easily get 600k for my place now, and that would be the cheapest one in the subdivision (1.1 acres)

 

[S.W.A.T.]

Ok so does that mean I could ‘spend’ 10k to bring in 10k?

Weird how revenue requirement is lower for less then 2 acres

Farming = spend 20k to save 2k in reality. Our neck of the woods farming doesn't make or save money. It tax deference, most common in Ltd or small business companies to shuffle money around to pay the least amount of tax while maximize right offs. Ie most loggers have cattle farms. On 2 acres you might farm enough to cover your cellphone bill for the month.

Just saying

 

[X-it]

Oh i forgot to tell you you are in clay, there are some seams of gravel but none in that area. I highly doubt you would have taken out a permit for a lagoon back in the early 2000. All the inspectors i knew in the regional district would be retired by now, i have been for 16 years. Although i wonder if i am, finishing off some custom cabinets today.