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! 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!
Help bring me back to reality...
April 3rd, 2008 at 01:45 pm
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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.