Good idea for first home?

We are thinking of buying our first home and this idea just popped in my head today after I seen this property for sale...
So we really were considering building vs. buying an exsisting home b/c we're having a hard time finding anything worthwhile that has at least 5-10 acres with it (that's not overpriced garbage). Well, I found this 5 acre property that has a old, but still lived in trailer on it. also included is a 2 car garage (which we will need, cuz yeah, we have alot of "toys". So anyways, this property is only priced right now at $49,000, which is almost what alot of the 5 acre parcels are already priced at. We could prolly get it for even less, since houses are not selling well around here.
ok, so to wrap this up, we would have our well and septic already, some land and a garage and a modular home company has a model house on clearance that we LOVE. So to me this seems like a great investment and we would have value in something right away.
any thoughts?

Sounds perfect to me. That's exactly what I wanted to do but couldn't afford to purchase the land and then the home. If you have the means to do it, go for it! You'll have exactly what you wanted and you'll be happy for years to come. Good luck.

that is nothing to pay for property. the old adage is buy property they are not making it anymore. you will kick yourself if you don't do it.

having the well and septic could save you $15000 right off the bat (i'm buying a piece of land myself that needs a well and septic - those were th costs quoted to me - NE Penna, plus the trailer to live in while you build the house. - expect to pay about $15,000 for a full basement foundation, um]less the home builder packages that - you might still need a contractor to assemble the house, hook up electric and plumbing if the mod home comp doesn't do that. sounds like a pretty good deal to me

I just bought my first home, and I can tell you, jump on this deal. It sounds like all the pieces are falling into place and everything is working in your favor. Do it!

sounds like a very good idea,I would just make sure the land isn't underwater when it rains,besides that hope you can enjoy it very much and good luck

JUMP ON THIS ITS A GREAT IDEA
make sure the septic is large enough to support the new home. also have it inspected to leaks etc. it will need ot be done anyway and its better to go in informed it can be a condition of the buyers agreement that the inspection be done if it fails you have a bargining chip!!!

also if you look for financing try this site they are the cheapest out there and ive seen on aoll people raving about how low thier rates where and what they saved.

they can also tell yout he value of the property once your unit is on it so you have the big picture!
http://www.directlendingplanet.com/index...

Wow...I wish I could find such a stellar deal in NY.... I'm impressed.