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Changes and Chance of a Lifetime

March 23rd, 2022 at 02:52 pm

We had septic problems last week again. Our septic is 50+ years old, homemade, and every year we just hope it holds on another year because replacement is expensive. 

Well we finally told the company to go ahead and put us on the list for replacement this year. Then we realized that our property line is too close to our house to put it where we want. Currently part of our septic is on the farmer's land who sold us the property. We would have to put it in the front yard and also do a more complicated and more expensive type of septic because of limited room and distance from the house.

So we called the farmer and asked again if we could buy some more land from him. (We have asked multiple times over the last 10 years and he has always said no way.) Surprisingly he said yes! He is going to come over and walk about and talk to us about how much he is willing to part with. I'm guessing somewhere between 1-3 acres.

We are suuuuper excited to be offered the chance to purchase more land, but also a bit nervous because we were not expecting that and so we are going to have to get a loan. Which is a bummer when you are debt free. But we can't pass up this chance of a lifetime!

We will have to wait and see how much land and what price he offers and then decide if we are going to have to cancel the septic or not for another year. I've already talked to the bank and have some options. Most likely a land loan for 4.25% which we would pay off asap.

We have been working on all our different yard projects. We got our old trees all cut down. Still need to bury the gutters, run the new main water line, get a hydrant installed, install the septic, regrade the yard again and plant grass and trees. I wish we had known about buying more land before we agreed to all these expensive projects. But it is what it is. 

4 Responses to “Changes and Chance of a Lifetime”

  1. Lots of ideas Says:

    I am of the belief that there is ‘good’ debt and ‘bad’ debt.

    Student loans to get a degree in a subject that will pay enough to pay it off - good.

    Tacos delivered today and added to credit card debt - not a good debt

    Mortgage on a house that fits within the 25-30% guidelines- good debt

    A $90,000 pick up truck when you have no down payment - bad debt

    Land? Good debt…

    Go for it. You will make it work.

  2. mumof2 Says:

    That is awesome hopefully he offers you a good price, hope it all works out for you

  3. LivingAlmostLarge Says:

    Congrats and what a lucky break! Sometimes things just happen for a reason. I mean you didn't expect to be offered something so fortunate and you HAVE a solid financial foundation to take advantage of it.

  4. rob62521 Says:

    As Lots of Ideas stated, that is good debt and you plan on paying it off. If it works out and you can buy the land, I think that is great!

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