This form is for an option to purchase residential real estate - Farm Land.
Alabama Option For the Sale and Purchase of Real Estate - Farm Land
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In Alabama, the cheapest place to buy land was Limestone County in North Alabama. The average lot size there is 79,120 square feet with average price per square feet at 38 cents.
For Alabama, the average value was $12,356 an acre, making it the 23rd most expensive state. You can compare that to the cheapest states, Wyoming ($1,558 an acre), New Mexico ($1,931), and Nevada ($2,116.)
Birmingham.Fairfield. Home Price to Income Ratio: 2.44.Anniston. Home Price to Income Ratio: 2.71.Sylacauga. Home Price to Income Ratio: 3.59.Selma. Home Price to Income Ratio: 3.23.Center Point. Home Price to Income Ratio: 2.25.Ozark. Home Price to Income Ratio: 2.82.20 Most Affordable States in 2021.More items...
Alabama has the third-highest amount of foreign-held agricultural land in the U.S. at nearly 1.8 million acres.
Tennessee, Arkansas, and West Virginia consistently rank as the cheapest places to buy residential land. Tennessee offers diverse geography, from mountains and lakes to acres of rural flat ground, and of course the iconic landmarks and attractions like Graceland and Nashville, the heart of country music.
For Alabama, the average value was $12,356 an acre, making it the 23rd most expensive state.
A Guide to Buying Land in AlabamaKnow your purpose for buying land.Research the market.Find the right Realtor to work with.Search for the right property.Look into the land's history.Work on the financing.Negotiate and close the sale.
In Alabama, the cheapest place to buy land was Limestone County in North Alabama. The average lot size there is 79,120 square feet with average price per square feet at 38 cents.
Over the last 20 years, the price of farmland per acre in alabama has risen by an average of 4.8% per year to $3,500 per acre as of 2019. This represents an increase of $2,050 per acre of farmland over this time period.
Key Takeaways. Tennessee, Arkansas, and West Virginia are three of the most inexpensive places to buy land. Texas is a popular place for retirees but not necessarily the cheapest place to purchase land. If you plan to purchase land, make sure it's close to water and utilities.