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Buying land. Numbers… decisions. Simple gets complicated, & $$$
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bushed52
Posted 11/16/2024 06:06 (#10969352 - in reply to #10969317)
Subject: RE: Buying land. Numbers… decisions. Simple gets complicated, & $$$



NW Iowa
You are leaving out some important factors. Your age? How many years into the future do you want to be in debt? You say you are at an age when you should be thinking about retirement. I've always enjoyed farming. Thought that I would farm until I could not physically do it anymore. I'm about to turn 74 and this last season my head wasn't into farming at all. If it wasn't for having to give up Schedule F on my income tax, this would have been my last year. Do you have a child who wants to farm? For me, this is a major consideration. There are better places to put your money than land at its current price unless it is a piece just across the fence that you have always hoped to buy or you have a child (children) wanting to come back to farm.
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