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re: Will be totally debt free in about three weeks. Where to put extra $?
Posted on 1/8/13 at 10:20 am to SLafourche07
Posted on 1/8/13 at 10:20 am to SLafourche07
quote:
If you find a good piece of land for a good price and are certain on the area then go for it. But don't just buy land now because you want to build a house in a few years.
Yeah, that's the thing. There are some up and coming neighborhoods where I want to build. I'd have to buy two lots to have it how I want it. But the rub is what if things change in 3 yrs? Job, the area, etc. It might just be smarter to wait. But then again, if it's all good in 3 years then I'll be kicking myself because I could have the land paid off and only worry about the $ for the house.
1
Posted on 1/8/13 at 10:50 am to htownjeep
quote:
But then again, if it's all good in 3 years then I'll be kicking myself because I could have the land paid off and only worry about the $ for the house.
You'll also have the money that you would have used to buy the land sitting in a savings account.
If I were you I would find out how much the land is going for in the neighborhoods you are looking at and figure out what a payment for that land would be and then put that amount away into savings until you are more sure on the future.
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