Who here owns 5 or more acres?

Discussion in 'Random Ramblings' started by punk-a-doodle, Nov 3, 2012.

  1. punk-a-doodle

    punk-a-doodle Songster

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    1. Who here owns five or more acres?

    2. Did you inherit the land or purchase it?

    3. If purchased, how did you finance it?

    Thanks!
     
  2. 1. Yes
    2. Purchased it.
    3. Did not finance.
     
  3. wsmith

    wsmith Songster

    Yes,
    Purchased
    Came with the house. 30 yr mortgage, 20% down.
     
  4. chickened

    chickened Crowing

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    Yes
    purchased through owner carry then refinanced 5 years later when the old guy passed and got a huge savings when I bought out the kids to settle the old guys' estate.

    There are people who will loan money on private land purchases under the right terms.
     
  5. Happy Chooks

    Happy Chooks Free Ranging

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    My Coop
    1. Yes
    2. Purchased
    3. Paid cash for the land, got an owner builder loan to put the house on it - which converted to a 30 year fixed mortgage.
     
  6. punk-a-doodle

    punk-a-doodle Songster

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    So helpful guys. Thank you! Would love to keep hearing from people.
     
  7. speckledhen

    speckledhen Intentional Solitude

    We own 5.37 acres.

    House originally came with 2.22 acres, then the two adjacent lots, totaling an extra 3.15 ac, came up for sale. Refi'd the house, took cash out and paid cash for the land so we own those lots free and clear.


    We will, however, sell the bottom 1.77 acre lot for about what we paid for it 9 years ago, if someone will buy it, leaving us with 3.6 acres and the house, unless we can sell the entire property.
     
    Last edited: Nov 3, 2012
  8. chickened

    chickened Crowing

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    Punkadoodle, if you can find a parcel with some merchantable timber more times than not the timber can cover the down payment and other minor fees. I have purchased such a parcel before and it works well.
     
  9. Capvin

    Capvin Songster

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    We own about 25 acres... We purchased the property as part of the house purchase so the entire acreage plus the house was part of the mortgage.
     
  10. rebelcowboysnb

    rebelcowboysnb Confederate Money Farm

    Brother just got acreage for less than the wood on it will sell for...
     

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