Is it cheaper to buy land with a pond already there or buy it and dig your own pond?
Question:I'm considering buying a 2 acre lot on a pond that shares with 10 other homes. The lot cost $21,000 per acre. If I can get a lot for $10,000 per acre (with out the pond) how much would it cost to have some one dig a pond (about a 4 acre pond)?
Answers:
No real answer for you, just some things to think about.
First, is the shared pond really a pond? It is becoming common for developments to have a pond on site as part of an erosion control program, which is mandated by the EPA. These are generally not deep and are often not maintained after the lots are sold. Make sure you are getting what you expect.
It is obvious that buying property and building a pond is going to be more expensive given just the cost of the land. Your 2 acres will cost $42,000, the 4 acres just for the pond would be $40,000. You do want some extra land to build on, right?
There are so many variables in the cost of a pond that it is impossible to even guess what the cost would be. You need to find an excavator with experience building ponds in the area the land is located and ask them to have a look.
My thinking would be, which place do I like the best and do I want to share it with other people. I would like being out and using it for myself rather than having to worry about everyone else.
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