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Buy Land for Sale in North Carolina with Little Money

Published: 09-06-21 Category: Investing

Specializes in providing actionable insights into the commercial real estate space for investors, brokers, lessors, and lessees. He covers quarterly market data reports, investment strategies, how-to guides, and top-down perspectives on market movements.

We see a plot of land for sale in North Carolina.

This article was updated on 8/03/2023.

What keeps you from buying luscious, rural land? Money and a lack thereof is one of the main factors that discourage aspiring investors from purchasing acreage. Undeveloped land for sale in North Carolina can be pricier to pay upfront than developed estates with homes.

Real estate experts say that money doesn't have to be a hindrance to your dream rural sanctuary. You just have to know the right places and utilize different methods. The land for sale in North Carolina is not only home to captivating scenery, but also available for low prices, depending upon where you look.

How Much Does an Acre of Land Cost in North Carolina?

North Carolina land for sale ranges from perching mountainside homes to fertile farmland and commercial plots. The average acre costs $16,230. But, when looking at rural acreage and farmland, undeveloped or minimally developed land costs an average of $4,180.

Here's a list of acre prices for counties in North Carolina with the most rural land. Some of these have a few hundred square miles.

Edgecombe County: $3,289 per acre;
Wilkes County: $4,223 per acre;
Transylvania County: $4,912 per acre;
Stokes County: $4,646 per acre;
Pender County: $3,379 per acre;
Halifax County: $2,889 per acre;
Franklin County: $4,273 per acre;
Beaufort County: $3,576 per acre;
Person County: $4,130 per acre;
Chowan County: $3,523 per acre;
Yadkin County: $4,262 per acre;
Columbus County: $3,238 per acre.

North Carolina comes with its abundant nature and experiences. Investing in these beautiful lands can be seamless in a few different ways.

Why Buy North Carolina Land for Sale?

As people look for rural escapes, flourishing landscapes in North Carolina will only grow in demand. You can keep acreage for yourself and enjoy recreations like camping while it increases in value. Or, you have the opportunity to create outdoor sanctuaries for others.

There is no need to pay hefty amounts upfront to buy land for sale in North Carolina. It doesn't take much to start investing in a part of the Tar Heel State.

#1 – Take Out a USDA Loan

USDA (United States Department of Agriculture) loans don't require a down payment. There are qualifications to be met, but these loans make owning land for sale in North Carolina accessible to many. Your credit does not have to be perfect, either: USDA offers interest rates that are lower-than-market, which means buyers are getting a discount.

Farmers and ranchers can qualify for other deals from USDA, too. The organization offers financial and technical assistance for farms. They partner with programs with missions surrounding conservation and agricultural quality. This is a considerable opportunity for new farmers going into the industry for the first time.

One of the eligibilities for USDA assistance includes the land itself. Your prospective property needs to qualify as rural. This means that the surrounding population is less than 20,000.

What makes land for sale in North Carolina perfect for a USDA loan is that the majority of the state is eligible. If you're looking to use a USDA loan for land closer to the mountains, then you will most likely be able to.

Some of the drawbacks of this loan include required insurance and restricted building. However, the latter only means that duplexes are not allowed. Landowners can build a single-family home, instead. Additionally, USDA will ensure that you purchase mortgage insurance. You will then be paying anywhere between 0.50% to 1.75% of your mortgage to fulfill the insurance.

Nevertheless, taking out a loan from a reputable organization that cares about conservation can be your gateway to North Carolina. There are other viable options available to those who don't happen to qualify or prefer an alternative.

#2 – Go Directly to the Seller

A seller that is ready to part from their land may be more than willing to deal with potential buyers in person. Investors can contact the landowner to explore potential negotiation opportunities.

You should be aware of any faults that a seller might hide. An example would be a property with developments against building codes. You can also order an environmental assessment, which you have a right to before finalizing a sale. These assessments look for any toxins or dangers to the environment that may have been caused by the current owner.

#3 – Network With the Right People

The people around you may own land or know of someone who owns land for sale in North Carolina. You can be referred to somebody who is willing to give you a great deal for their acreage. When you visit North Carolina, make some contacts who can show you around the countryside.

You may even come across other seasoned land investors who have tips on how to successfully reap the value of land for sale in North Carolina.

#4 – Keep an Eye Out for “Owner Will Carry” Notes

Are you on the fence about down payments for land? There is an “owner will carry” option that allows you to put down a cheaper down payment. In exchange, the owner can reclaim the land if you are not able to fulfill the full purchase over time.

An “Owner Will Carry” deal is easier to qualify for than a USDA loan. In addition, you won't have to wait long for the deed to turn over to you. Here, you should order an environmental assessment since you may be dealing with the seller directly and not through an agent or broker.

Purchasing land for sale in North Carolina opens doors to investors and opportunists. The low price point and zero down payments beckon investors to grab a piece of the state's gorgeous outdoors for themselves. These multiple methods of acquiring North Carolina acreage with low funds will give owners lifelong benefits from their land.