With the purchase of the lot, I am off and running. The property that I purchased was the last lot in this subdivision so I feel pretty fortunate to have gotten any sort of a discount on it at all. The more I started driving around my soon to be neighborhood, the more excited I got. My property is 2.33 acres in a development about 8 miles north of Mandan, ND. The roads out to the property are well maintained and traffic is minimal. I have friends who live less than a mile away so project helpers won’t be too far away; nor will cold beer and someone to B.S. with. About 1/4 mile away from the property there is a new lake with abundant recreational opportunities.
Harmon Lake is still being developed, but has been stocked with fish for several years and I hear people are catching fish there like crazy. The lake has a sandy beach, boat ramp, picnic shelters, campsites and miles of mountain bike trails surround it that also connect to the city’s trail system. I was also happy to find out that they have moved the local triathlon to the lake. Maybe someday I’ll get back into shape and check that off my bucket list. See more about Harmon Lake at www.harmonlake.com. It will go to a facebook page, but still has lots of fun stuff on it.
There are houses going up all around my lot this summer. There were 3 completed homes in the subdivision with 2 being my neighbors. There are an additional 5 going in right now. Based on my experience in the lending industry I would estimate that most of the houses in the area would appraise in the high $200,000’s to low $300,000’s. The road that starts 1 house over from my lot will have backyards that face the lake and I expect most of those will appraise for over $500,000. Hopefully that will help my property appraise for financing but the remainder of the houses will help keep the taxes down. Wishful thinking I’m sure.