Land Buying Questions

[salinger7]

Hello there,

So after much waiting and working we think we might able to put a down payment on a piece of land at the end of next year. We have so many different questions.

Purchasing:

Should we just put %20 percent down and just chip away at the mortgage as fast as we can by working in the city or wait till we can buy the land flat out cash. No

monthly payments will allow greater freedom. The downside is that it will probably take 4-6 years and by that time who knows what state of mind we will be.

The game plan right now is to either buy acreage 1 hour from Austin (more expensive per acre, less rainfall, proximity to affluent markets), Deep north east Texas

(three times as cheaper per acre, way more rainfall, impoverished and depressed area - far from markets) or cherry pick the most water secure area in a more water

affluent state (unfamiliar with options, I would assume the south east).

My biggest fear is the water situation; Central Texas is having major droughts (last year was Texas' worst rainfall in history). We could possibly try going north east

to deep East Texas, which has better rainfall but is about 5.5 hours from Austin, meaning we could work on our land less frequently while living in Austin. But even

deep east Texas could prove not to be water secure in 10-20 years as everyone tapping into the same water tables, desertification is creeping upward the us. I really

like the south east weather and growing zones.

1 hour from Austin - Acreage as low as $6000 an acre.
5.5 hours from Austin (deep east Texas) - Acreage as low as $2000 an acre.

I realize that there are many added expenses to make a bare piece of land useable.

We are looking into buying 10-15 acres.

Possible Goals:
50 person CSA
1-2 acres mixed edible forest
1-5 acres orchards (figs, pomegranates, pecans, persimmons, black berries)

My dream scenario is buying a bare piece of land and slowly improving it by using funds from the city job for fences, water well, various infrastructure and etc. As

the land matures some and income possibilities expand we will start spending more time on the land and less in the city until the ratio is reversed and we spend the

majority of the time on our land.

My girl and I wwoofed a bunch, started our own farmer's market booths from scratch, we are aware of many of the challenges (financially) that we could face. We

returned back to the city just for the purpose of saving money for land. Yet as longer and longer we stay here I feel we drift away from that dream and get tangled up

in city life and its money spending lures. I think if we will have a concrete plan with dollar figures attached to them we could maintain the "flame".

So friends,

What would you do? What location?
What other components should I consider?
What was the best/worst thing you have done when buying your own land?
Any book recommendation about land purchasing? I am about to order "Mortgage Free!" and "Finding & Buying Your Place in the Country". Any other recommendations?
Any general nuggets of wisdom?

Thanks in advance for any input,
Have a wonderful day

[ecodharmamark]

G'day salinger

Welcome to the PRI Forum.

You might find some answers here.

Cheerio, Markos.

[Juan P Martinez]

Dear Salinger,

You're in the same position I was five years ago, but in a much, much better position.

My wife and I, 39 and 37 years old, have 5 children, 17, 15, 13, 10 and 9 (Like Rabbits!!!! ), we would love to leave everything and go to live on the land and of what the land produces.

In the states at these days, you can find very cheap debt, in the order of 4% of yearly interest. If you can manage to get a mortgage that goes for 15 or 20 years, your montly payment will be so low that with the first berries you sell you will be able to pay it, but only if you live a "less complicated life". If you wish to maintain your Ipad, Iphone, IMac, newest Ford F150 and a full ammenities house, maybe Permaculture is not the way.

The main idea is to live with less needs, this will lead to less worries and less expenditures. Just make sure you have a nice school on the vicinities for when you get blesses with some children.

This is the best advise I can give you: if you can, be brave and start living your dream!!!

All the best,

Jp.