Wednesday, September 24, 2014

BIGGER IS BETTER

HUH?  FOR SALE?  SOLD?  WHAT?

Buying rural land
No no, we didn't sell, we actually bought!

It's been in the works for the last couple of months but I didn't want to bring it up for fear of jinxing it.  Our blog header has always said it will document our "journey to 10 acres in the country".  That was actually rounding off.  We actually owned about 9 acres.  There was another section of land that we hadn't purchased yet and we've been planning for it the last couple of years.  We actually thought it might end up being another couple of years but we were asked if we wanted it sooner rather than later and we said yes!  It meant we had to put off some projects, such as the new roof for example, because we had to use savings for the down payment of course.

This is land we've already been using, or at least had access to, and were told to just treat it as if it were already ours.  So I've been mowing it and including it in our adventuring around the property.  In a way, this is just a transaction that's a necessity for legal purposes and we won't have a new spot on the property to play with or explore.  But hey, at least we know now that it's ALL OURS and more than anything else, that's a good feeling. 

Buying raw land isn't quite as easy as you might think.  Trying to refi the house and existing land was not something they (the bank) wanted to do, we hadn't owned it long enough for that...plus they don't really like raw land at the big 'national' bank chains.  Paying cash for it was not something we could do either. Land in these parts is going for quite a bit per acre.  We were told to find a rural bank in a small town near the farm.  We got a great referral from the survey company and the process has been great.  With no buildings or structures or utilities, they pushed it right on through.  We just had to make sure that the appraisal was at or higher than the purchase price (it was).  The financial terms on raw land are a bit more than on land with a home already on it; a bit higher interest rate...less years to pay for it...and a larger down payment.  We figure in a few years, when the house is in better shape for inspection and we have a barn and other infrastructure done, we'll just roll both loans into one note.  

Yesterday morning at 10am was our closing.  It took about 15 minutes...5 minutes to sign the paperwork and 10 minutes to talk about the recent weather...gotta love life in small towns...


So now we officially own not 9, not 10, but 11 acres of land...and the blog header has been adjusted...





41 comments:

Delores said...

Congratulations. So glad it went smoothly for you.

Deb said...

Congratulations to you both. I know the feeling of owning a little of God's green acres and 11 acres is a nice amount. How wonderful to put your personal touch on it soon. Deb

jaz@octoberfarm said...

congratulations! nothing like owning your own land!

Susan said...

You are right - bigger IS better, especially when it references more land! Eleven is a very nice number.

Texas Rose said...

Oh, I am sooo happy for y’all - Congratulations! !

Shooting the breeze after a business transaction - yes, that sure is one of the wonderful things about small town living.

You both have worked so hard for this. Now the dream has become reality - what a great feeling! “Never underestimate the power of a dream set to hard work.”

donna baker said...

Congrats. They aren't making any more of it. I've read that the new investments for the monied crowds is land. They are finally getting it (the stock market is rigged etc.).

Anonymous said...

Now you have Room for a Pony! :D

Nora Lee said...

"We come and go, but the land is always here. And the people who love it and who understand it are the true owners - for a little while." ~ Willa Cather. Congratulations to you fellas, you sound like true owners! Love you guys.

JW said...

Two more acres, that's a whole 'nother homestead! Exciting!

MaryJo said...

Congratulations!

kymber said...

super-super-super happy for you and 2nd Man. we have a saying up here that goes: "you did good, dear, good."

well buddy, you guys "did good, dears, good!" congratulations! all of our love to both of you! your friends,
kymber &jambaloney

Joani said...

That is awesome news. Congratulations. Am so happy for the two of you.

FionaG said...

Congrats. Pleased it all went without a hitch.

Daphne Gould said...

Congrats!

Sandy said...

1st Man,

Congratulations to you both!!! This is great news, now you'll have enough room to just relax and spread out.

lynney62 said...

So happy for you guys! :) And, yes, life in a small town is so much easier than life in a city. I lived and worked in a city for 20 years but now have retired back to my hometown of 7000 people.....my life is so peaceful and relaxed now, and you know what....everyone in a small town smiles and says"hello" whether they know you or not! :)

The Stay @ Home-Gardener said...

Bigger is better? :) Oh, my!

Tonya @ My Cozy Little Farmhouse said...

Congrats!!

1st Man said...

Thank you much!!

1st Man said...

It's a very nice amount, we are blessed for sure.

1st Man said...

Thank you, it's a great feeling and gives a sense of comfort for the future, in a way.

1st Man said...

Ha, so true. And yes, 11 is a good number.

1st Man said...

Yay, thank you! Yep, definitely different in the small town instead of the big city, ha. I like your quote. :-)

1st Man said...

Great way of putting it, thanks!! We do think of it as an investment in our future.

1st Man said...

LOL!

1st Man said...

LOVE THAT! Thank you, thank you much!!!

1st Man said...

It is isn't it? Sometimes I find it hard to believe we have 11 acres...that's so much but seems so little in a way too. Probably because so much of it isn't cleared.

1st Man said...

Thank you!!! :-)

1st Man said...

Love it. Thanks! Big hugs to you both as well. We don't have a river running through it, and it's hotter than hell at times, but it's our little piece of paradise, ha.

1st Man said...

You are too sweet. Thank you!!

1st Man said...

Definitely, was worried a bit, the county tax office too forEVER to get the paperwork back. We were nervous, ha.

1st Man said...

Thank you, we appreciate it!

1st Man said...

Ha, if we spread out any more we'll get lost, haha!

1st Man said...

We will be retiring someday to the farm. Hopefully sooner rather than later. We do enjoy the small town nature of life. People are nice for sure.

1st Man said...

Yeah I know, that's what they all say, ha.

1st Man said...

Well hello! And thank you!!

Alison said...

Yay! I know you're happy about that. Congratulations to you both!

Sherry Miller said...

Great news!!!!!!!!!

Mary said...

Congratulations. Does that make you guys " Land Barons"..hahaha

Brenda said...

Congratulations!!

Midnite Baker said...

Congrats!!! Now, you can relax and not worry about someone else buying it. Have a great weekend.
Am going to Gays Mills, Wisconsin Apple Fest this weekend. And flea market... My wallet is full!! M