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comment by kleinbl00
kleinbl00  ·  2500 days ago  ·  link  ·    ·  parent  ·  post: Pubski: May 24, 2017

Tricky thing to buying land is the finance available for buying a home is not available for buying land. You can get a gap loan that will cover the land and the cost of construction until you have a habitable domicile on property at which point it can convert to a conventional mortgage but in general, the financial instruments available for homeownership are significantly curtailed for vacant land.





WanderingEng  ·  2500 days ago  ·  link  ·  

I think I could swing the financing by taking a home equity loan on my condo. Or remorgaging it. Or something. I have enough equity there to cover it. I like the idea of hedging my bets a bit by owning land while also having the excuse to stay in my condo longer.

kleinbl00  ·  2500 days ago  ·  link  ·  

You have nothing to lose by investigating.

WanderingEng  ·  2500 days ago  ·  link  ·  

Thank you, I like that suggestion a lot.