I have a question to post, but I want you to all answer like you don't know me and you don't know Tim. <--- (that'll be easy haha) =o)
If you had a choice to purchase a piece of land now, but didn't plan to build on it for at least another year - would you? Or would you wait until you were ready to build THEN do it all at the same time?
Reasoning: reduce future mortgage payment by paying down cost of land. Land prices only seem to be increasing and land choices are becoming slim (unless you want to live in a subdivision and the people in this question do not!)
4 comments:
I think I would do it all at once and just put that imaginary land payment in savings. I do know that one of the guys Rick works with has been looking for land for a few months now and it is all too expensive so maybe the market for land is just not that great right now... maybe?
I would buy it now because if you really like the land, what are the chances you are going to find it again later? Plus, you can use the value of your land to reduce what you have to come up with when you build your house there.
You both have very good suggestions!! I'm leaning towards Colleen's idea because if there comes a month where I couldn't "make my land payment" than I could "skip it" because it wouldn't be REAL. haha! And if I'm not looking for land than I won't know if something good passes me by! =o) Thanks guys!!
I think if you found a good piece of land for a good price then go for it and have it other wise wait. But if you find something good and don't get it who knows if you will find anything when you are looking to build the house. But I think you should just stop looking like you said but you have said before you were going to stop look hahaha But hey don't take anything I say I don't have a clue!!! :o)
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