Who here owns 5 or more acres?

[punk-a-doodle]

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!

 

[Fred's Hens]

1. Yes
2. Purchased it.
3. Did not finance.

 

[wsmith]

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

 

[chickened]

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.

 

[Happy Chooks]

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.

 

[punk-a-doodle]

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

 

[speckledhen]

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.

 

[chickened]

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.

 

[Capvin]

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.

 

[rebelcowboysnb]

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.

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