rural land? Am I crazy?
I have lost ALL, and I mean ALL, faith and trust in our government and financial industry.
I have no debt. I live in a suburb of a major metro area. I feel the need to have a "bug-out" location, should the need arise, and I feel the potential for that need will increase in the near future.
How should I purchase this land? Cash? Finance? Remove cash from IRA and pay penalty? The IRA money is about 25% of my liquid worth. By the way. my confidence even in money market instruments is pretty low.
I have the wherewithal to be pretty self sustaining on the land. Even if not needed, the peace of mind in having would be helpful to me.
Am I crazy?
Of course not.
I’ve thought about it myself.
Just be sure that you’re not SO rural that you have no close neighbors – community is important. No one can do it alone and a good network of helpful, knowledgeable neighbors is critical.
Best of luck to you, and good for you for being smart about how you’ve run your life.
It has given you options when many have none.
i have no idea where you live but i live in arkansas near wal mart world headquarters.
you can find a resonable amount of land to do what you need to do for self sufficiency for not much money
i myself have 4 acres 5 minutes from the university of ar. i have neighbors and a community.
we had a public showing of the crash course and have a group working together on our collective needs.
i am a real estate broker i would suggest you pay cash. if you were to buy land with no house the only options would be cash or owner financing. but i am against having debt in these times.
i would also take a hard look at what land taxes would be in any locale you are considering. plan on having enough cash on hand for any improvements you would want to make ie. solar panels, garden etc.
be happy to help in any way i can.
btw no you are not crazy and that is my professional opinion after long consideration of your post.