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Our New house

@jrsavoie that's our eventual plan is to have a decent size farm.. not huge..maybe 80 acres or so.. big enough to be self-sustainable and turn some profit. Have some livestock.. not a huge amount.. we don't care if we just put a double wide trailer on it or a small cabin we're more interested in land..
 
I also want to buy a house, but now I’m not sure whether it’s the right time for that.

While not able to foresee the future, purchasing a house right now is not looking good from an investment standpoint. Am seeing where listing times are starting to stretch out again. Interest rates are going up. And people are actually getting called back to the workplace and needing to commute. These were all key elements of what drove home prices to skyrocket.

With that, the low interest rate / work anywhere pandemic bubble is currently looking shaky. In reality, it was not sustainable as the increases in housing prices outpaced inflation by a *huge* margin. Whenever this happens, a correction is soon to follow. And the correction creates a lot of properties where the homeowners are stuck in them for many years while to paying the mortgage in order to get it down to the corrected value so that they may sell without having to pay the bank a lot of money. Only perverse upside to upside-down homeowners is that there tend to be a lot of them which in turn creates a housing shortage, which in turn helps keep the prices up a bit.


What is the interest rate for land loans?

The goal is to pay interest on dirt?

As Will mentioned, always best to pay cash. The borrower never wins, but the economy does.
 
Well I guess we have no choice but to find the money to fix the foundation now.. all the rain the past few weeks has buckled it alot worse.. I've got it (the house) sitting on stilts under the addition and one corner of the house now..only good thing is my adopted brother has concrete forms, so once I drop the bad wall in to the basement the rest of the way, I should be able to dig out the dirt behind it by hand to get enough room for the forms..then call for a load of concrete...
Hopefully I pass the background check at Lowe's this week and get hired . This is gonna cost a bit
 
@jrsavoie that's our eventual plan is to have a decent size farm.. not huge..maybe 80 acres or so.. big enough to be self-sustainable and turn some profit. Have some livestock.. not a huge amount.. we don't care if we just put a double wide trailer on it or a small cabin we're more interested in land..

Have you or @Diesel princess been around a farm at all?

If it's not the weather causing you trouble: Not enough rain everything dies, too much rain your equipment gets stuck and broken harvesting it.

Yeah your crops will not wait for the next paycheck to get say a damn new U-Joint. You will spend time welding a broken one up 2-3 times in a day instead. (Dammit forgot to fix this from last year in the off season!) Your friends are also using their equipment full-tilt so borrowing one is rare before your crop spoils.

Then the bugs screw up (eat) things.

The DEF shortage/price concerns, yeah, you are now bidding against Diesel Engines for fertilizer. :facepalm:

On a good year, well, you into canning? Because everyone has a good year and lots to sell with less demand. Mega Farms simply have deep pockets to weather the storm of bad and good years.

Just saying there is a lot of hard work in farming even a "small backyard" of only 80 acres. Lots of risk. Lots of ways to not only "Go Broke" but "Go Hungary". No matter how hard you are working.

While the times are good I suggest you try and get work in an skill area you are good at.
 
Have you or @Diesel princess been around a farm at all?

If it's not the weather causing you trouble: Not enough rain everything dies, too much rain your equipment gets stuck and broken harvesting it.

Yeah your crops will not wait for the next paycheck to get say a damn new U-Joint. You will spend time welding a broken one up 2-3 times in a day instead. (Dammit forgot to fix this from last year in the off season!) Your friends are also using their equipment full-tilt so borrowing one is rare before your crop spoils.

Then the bugs screw up (eat) things.

The DEF shortage/price concerns, yeah, you are now bidding against Diesel Engines for fertilizer. :facepalm:

On a good year, well, you into canning? Because everyone has a good year and lots to sell with less demand. Mega Farms simply have deep pockets to weather the storm of bad and good years.

Just saying there is a lot of hard work in farming even a "small backyard" of only 80 acres. Lots of risk. Lots of ways to not only "Go Broke" but "Go Hungary". No matter how hard you are working.

While the times are good I suggest you try and get work in an skill area you are good at.
I'm seeing quite a few people doing well, raising & selling garden plants, trees and such, flowers on small acreages.

I'd like to give it a go, just not in up to it and at the rest of the family isn't up for it. They sure are up to spending money though.
With all the wooden shoes veggie farms around, it's been a proven moneymaker for as long as as I've been around.

It's just labor intensive. Seeds are cheap. One guy was potting in red solo cups to save money.
 
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