Wednesday, January 27, 2010

Update: The Louisiana Purchase

No, we're not purchasing Louisiana. Duh! I mentioned earlier that RNH and I were hoping to purchase an additional 26.81 acres to our 5 acres that we already own. The acreage is right next to our current property. We use the land as if it is ours, but we'd prefer to "own" it before we start doing things to it (like cutting timber to make a field....!!!) or else we could get in trouble!

Anyways, the seller is asking $3150 an acre, but he said he's willing to work with us if we purchase the entire acreage. Well that is exactly what we want to do. We inquired back in October and realized that we would only be able to afford a counter offer of $2600. That is pretty low-balling and we decided to just wait.

In just a short amount of time, RNH and I have really kicked the savings into high-gear. Not for a down payment, but for a personal family cushion. In the next 9 months, we will have a wonderful cushion to sit on, and RNH will have his credit card completely paid off. No debt. Zero. Except for the mortgage. We are thinking that come September, we will be ready to put in our low-ball offer.

I'm sure the seller will counter-offer, but hopefully with the mid-range and it that will be something we can comfortably afford. I am also thinking that in the next few months, we should begin paying ourselves what our new mortgage would be to make sure we don't mind living that type of lifestyle.

We are dying to have this land. We feel that God has blessed us tremendously with what he has given us already, and if its in His Will, the land purchase will work out! Pray for us please!!!

2 comments:

  1. It will work out the way its supposed to. I didn't get the first house I put an offer on, waited a year, and got a waaaaaaaaaaaay better house. Maybe in September the seller will be ready to come down to your level.

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  2. Thanks Skinny- I needed that! I've got another update coming soon, with of course, bad news... blah!

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