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Help bring me back to reality...

April 3rd, 2008 at 06:45 am

Oh, I have the itch to buy a piece of land... help me see the light. It's 1.231 acres for $105K. It's right on a private lake and the area is just gorgeous! It's only 5 miles out of town, work, and school which is very important to us because we don't want to move far out. Yet, it's serene and quiet. We could build our dream home - heck, maybe Ima's husband would help us! Smile Bring me back down to reality and tell me all the reasons to get this dream out of my head. It's all I can think about!

6 Responses to “Help bring me back to reality...”

  1. Ima saver Says:

    I say buy it. I wish I had bought more land when I moved here. We bought an acre on the river for $13,000. Now they are selling for $250,000. They are not making any more lake lots either!! Live your dream!!

  2. merch Says:

    i agree with Ima. If you have the money, why not?

  3. Broken Arrow Says:

    I don't know what the answer is (and I recommend more research) but that sounds dreamy!

  4. treasureinheaven Says:

    I agree, sounds absolutely idyllic. If it were me, I'd grab it up if I could.

  5. creditcardfree Says:

    Is this something that would fit in your budget, too? If so, why not go for it. If you have a lot of other unsecured debt...then maybe not a good time. Just my 2 cents.

  6. luxlivingfrugalis Says:

    I'd love to have a lot like that - but you asked for help.

    What if your husband's raise doesn't come thru in July?

    What if you purchase and the economy really hits the skids and you both get laid off? Could you still make the payments or are you planning to pay cash?

    What will you do w/the property if your current home doesn't sell?

    Is your credit worthy enough to get a loan on the land and for construction costs? How are you proposing to pay for it? Pulling equity out of your current home?

    Lots to think about.

    I personally hope someone is getting to fulfill their dreams, however, do be careful.

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