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House now, or wait for land?
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GrainTrader
Posted 8/1/2011 19:47 (#1890561)
Subject: House now, or wait for land?



20 Miles West of Indianapolis Indiana

Heres my scenario... I'm 26, getting married next year. Neighbor has offered to sell me her house and just a few acres (7.5). beautiful house. Fieonce likes, and i like too. bigger than what we need, but thinking that wouldn't be bad if we had kids or just wanted a room of our own such as office for me and work out room for her. farm has a nice 50x70x14 pole barn and a 2 car attached garage and a 2 car detached garage.

Have a good full time job, and farm 250 acres. but will likely be down to 100 in two years. (long story, but only counting on 100).

I am 100% debt free and live in a cheap rental house. could live there forever, but she doesn't want to live there longer than 5 years after were married. Would love to buy 40-80 acres and build a small house thats easy to add on to, but think this is a bad time to buy land personally... am i wrong?

What would you suggest? Buying this house is affordable, but will pretty much take me out of the land market for at least 10+ years.

Uncle farms 600 acres and may retire in 10 years at the earliest and Dad farms 900 but won't retire for 20+ years. The plan is to hopefully pick up a few hundred acres by the time my uncle retires and farm full time when he does...

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