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Boone Co. Iowa | Total interest payments over 25 years? Curious what value you mean when you say considerable?
Agree with your premise but I never bought land 25 years ago, would you throw out some general numbers to help?
Thanks for posting.
Used to be a rule of thumb it took 3 acres to buy 1 acre. Now MY rule of thumb is it takes 5 acres to buy one acre.
My one land loan is locked at 3.35% and my last payment is in 2032. Originally a 20 year loan and we had a couple chances to lower rate with buydowns. Farm Credit.
Buying land today takes a lot of paid-for-stuff behind it than it did in 1982.
1982 was 40 years ago! | |
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