Life Changes

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
User avatar
Devil's Advocate
Posts: 260
Joined: Thu Feb 16, 2012 5:18 pm

Life Changes

Post by Devil's Advocate » Sun May 20, 2018 12:51 pm

Bogleheads,

Wanted to run my situation by the group. I am looking to buy a timbered property one hour away from my current home/work. My plan is to morph out of my current role at work (healthcare) and start picking up work in a few other hospitals closer to my proposed land. I have already been hired as a 1099 contract worker for as needed shifts at a hospital 45 minutes from my proposed land. I also have a job interview at a hospital 20 minutes from the land. The land is ~60 acres timber, ~20 acres CRP (Conservation Reserve Program). It produces $3800/yr income. The property taxes currently are ~$1500/yr.

The land has a rustic cabin on it that has rural water hook up. No electricity. The land is landlocked but has a deeded lane. The lane is approximately a half mile to proposed build site of new home. It would cost ~10k for electric hook up realtor says. Land has some mature timber. Possibly would be able to generate some money selling logs. My father paid for half of his 40 acre timber selling mature white oaks and a few walnuts. This is not something I will not count on but maybe icing on the cake.

Currently wife works and has our healthcare. She does not make any take home $$$ as she contributes max to 401k and pays for health insurance and HSA. Gross income ~30k. She would be willing to rough it a year in cabin while new house being built. We have 3 young children. She would not be employed for a period of time. She would use COBRA to pay for health care until one of us can find a position that offers insurance. Without having to pay 1500/mo for childcare this would be close to a wash.

I make approximately 200k per year give or take. Income has plateaued. I believe I can make nearly this much working shifts at multiple sites and possibly working part time at current company. Commute to current workplace would be 60 minutes. Cost of living less in this community.

Plan to build a home on land in the next year or so. The cost of timber is ~315,000. Cost of building home rough estimate of ~125/sq foot. Looking at a 1800 sq foot home with basement. 4 bedroom. stick built. So likely ~540,000 for home and 80 acres. Plus electricity hook up of ~10k. So lets estimate high at ~$600k. Would sell current home that's paid off. Estimate 190k after realtor fees. Can get loan for land with %20 down at 4.9% fixed 20 year. Construction loan at later date thru same lender at same rate. Need 65k for land down payment. Have half down payment now if I sell brokerage $$$ and save 10k prior to closing. Can tap a HELOC for remainder.

Would not build on land until I am employed at least Part Time at closer hospitals and still plan to supplement income with other sites. Worse case scenario I have a sweet property with cabin one hour from current house and job.

His age: Early 40's
Her age: Late 30's
3 kids 5 and under

Current assets:
His 401k:$630,000
His Roth IRA: $54,000
Their Brokerage: $25,000
Her 401K: $267,000
Her Roth: $49,000
Current Home: ~210,000
Hunting cabin and land: ~$160,000
HSA: $40,000

Liabilities: None
Net worth approx ~1.5million

Plan to work at least part time 15 more years. At some point will only need to make enough to pay for our living expenses. Currently ~75k/year. Of course with loan this will go up.

My employer kicks in 10% of my salary into 401k profit sharing. This will go away. If I am not a Part Time employee at one of these hospitals then I will only have access to traditional IRA. Wife would not be able to put anything away until hired in new location.

So this move would definitely decrease my net worth projections, but I don't want to be the richest guy in the graveyard and not enjoy the fruits of our labor. We live in mid sized midwest town in a sub division. I'm more of an outdoorsman and want to live somewhere where I can pee off my back deck and shoot critters off it too. Wife has similar interests. Kids would be able to enjoy the outdoors with less supervision. School district seems to be above average compared to rural districts. We would be one hour closer to my parents/hometown where my other hunting cabin is. Be much more likely to get back more if we are closer. This is a huge benefit.

Sorry for the long post and appreciate any feedback.

DA

PFInterest
Posts: 2104
Joined: Sun Jan 08, 2017 12:25 pm

Re: Life Changes

Post by PFInterest » Sun May 20, 2018 1:04 pm

it does not sound like my cup of tea, but best of luck!

stan1
Posts: 5812
Joined: Mon Oct 08, 2007 4:35 pm

Re: Life Changes

Post by stan1 » Sun May 20, 2018 1:09 pm

Sounds like a big lifestyle choice more than a financial one. The commute will be easier if traffic is free flowing rather than stop and go. I would not take anything the realtor says about an easement or utility hookup as truth. Verify it yourself with an attorney, local builder, or the utility company. Make sure the lot is buildable. It's a problem if its a wetland and can be very expensive if you want a basement on rocks. You could add a civil engineers report as a contingency.
Last edited by stan1 on Sun May 20, 2018 1:17 pm, edited 2 times in total.

User avatar
RetiredMule
Posts: 46
Joined: Sat Oct 01, 2016 4:14 pm

Re: Life Changes

Post by RetiredMule » Sun May 20, 2018 1:13 pm

Devil's Advocate wrote:
Sun May 20, 2018 12:51 pm
Bogleheads,

Wanted to run my situation by the group. I am looking to buy a timbered property one hour away from my current home/work. My plan is to morph out of my current role at work (healthcare) and start picking up work in a few other hospitals closer to my proposed land. I have already been hired as a 1099 contract worker for as needed shifts at a hospital 45 minutes from my proposed land. I also have a job interview at a hospital 20 minutes from the land. The land is ~60 acres timber, ~20 acres CRP (Conservation Reserve Program). It produces $3800/yr income. The property taxes currently are ~$1500/yr.

The land has a rustic cabin on it that has rural water hook up. No electricity. The land is landlocked but has a deeded lane. The lane is approximately a half mile to proposed build site of new home. It would cost ~10k for electric hook up realtor says. Land has some mature timber. Possibly would be able to generate some money selling logs. My father paid for half of his 40 acre timber selling mature white oaks and a few walnuts. This is not something I will not count on but maybe icing on the cake.

Currently wife works and has our healthcare. She does not make any take home $$$ as she contributes max to 401k and pays for health insurance and HSA. Gross income ~30k. She would be willing to rough it a year in cabin while new house being built. We have 3 young children. She would not be employed for a period of time. She would use COBRA to pay for health care until one of us can find a position that offers insurance. Without having to pay 1500/mo for childcare this would be close to a wash.

I make approximately 200k per year give or take. Income has plateaued. I believe I can make nearly this much working shifts at multiple sites and possibly working part time at current company. Commute to current workplace would be 60 minutes. Cost of living less in this community.

Plan to build a home on land in the next year or so. The cost of timber is ~315,000. Cost of building home rough estimate of ~125/sq foot. Looking at a 1800 sq foot home with basement. 4 bedroom. stick built. So likely ~540,000 for home and 80 acres. Plus electricity hook up of ~10k. So lets estimate high at ~$600k. Would sell current home that's paid off. Estimate 190k after realtor fees. Can get loan for land with %20 down at 4.9% fixed 20 year. Construction loan at later date thru same lender at same rate. Need 65k for land down payment. Have half down payment now if I sell brokerage $$$ and save 10k prior to closing. Can tap a HELOC for remainder.

Would not build on land until I am employed at least Part Time at closer hospitals and still plan to supplement income with other sites. Worse case scenario I have a sweet property with cabin one hour from current house and job.

His age: Early 40's
Her age: Late 30's
3 kids 5 and under

Current assets:
His 401k:$630,000
His Roth IRA: $54,000
Their Brokerage: $25,000
Her 401K: $267,000
Her Roth: $49,000
Current Home: ~210,000
Hunting cabin and land: ~$160,000
HSA: $40,000

Liabilities: None
Net worth approx ~1.5million

Plan to work at least part time 15 more years. At some point will only need to make enough to pay for our living expenses. Currently ~75k/year. Of course with loan this will go up.

My employer kicks in 10% of my salary into 401k profit sharing. This will go away. If I am not a Part Time employee at one of these hospitals then I will only have access to traditional IRA. Wife would not be able to put anything away until hired in new location.

So this move would definitely decrease my net worth projections, but I don't want to be the richest guy in the graveyard and not enjoy the fruits of our labor. We live in mid sized midwest town in a sub division. I'm more of an outdoorsman and want to live somewhere where I can pee off my back deck and shoot critters off it too. Wife has similar interests. Kids would be able to enjoy the outdoors with less supervision. School district seems to be above average compared to rural districts. We would be one hour closer to my parents/hometown where my other hunting cabin is. Be much more likely to get back more if we are closer. This is a huge benefit.

Sorry for the long post and appreciate any feedback.

DA
DA,

All the best!
Being a suburbanite all my life, this is the sort of living I occasionally dream of, but, haven't been able to do due to many constraints I've. Looks like you're quite at ease all aspects of such a decision, and from financial p-o-v, given your retirement and other savings, and the profession you're in (healthcare) which pretty much guarantees employment as long as you wish to work.

Hopefully, you've considered aspects related to your young children's social life (i.e., being able to spend time with others of their age groups)? This thought on my part stems from my ignorance on if you're moving away from a subdivision in a mid-size city to, possibly a rural setting...

User avatar
Devil's Advocate
Posts: 260
Joined: Thu Feb 16, 2012 5:18 pm

Re: Life Changes

Post by Devil's Advocate » Sun May 20, 2018 1:30 pm

Thanks for the replies!

I will verify the ability to build on the land.
I have a few calls to make including the farm service agency. I will have to buy out one acre of CRP from the government. I believe it cost the amount of money the previous land owner has received from that one acre. So if the contract was 10 years and the payment was $187 per acre it would be $1,800 or so. Plus there's some sort of fee in addition. Will have details before offer is made.

I will also verify that there is a deed to the Lane.

As far as the kids as social life it will definitely be a culture shock. But the daughter will be in kindergarten this year. So next year she will be in first grade at the new school system. The other two will be home for the next three years at least. I imagine if my wife is not working she can get the kids involved in social activities in the town that is literally 5 minutes away from the property. The property is completely isolated but you'd never know it on the land.

DA

JGoneRiding
Posts: 1127
Joined: Tue Jul 15, 2014 3:26 pm

Re: Life Changes

Post by JGoneRiding » Sun May 20, 2018 2:32 pm

We have talked about doing something like this.

Just caution this will either be the best thing ever for the family or very destructive. Wife needs to be 100% on board and excited about it. She is going to be stuck in a small cabin with 2 toddlers for a while and a drive to take them anywhere.

Think about how she is going to build a social life for kids and her. Check out nearby activities

User avatar
Devil's Advocate
Posts: 260
Joined: Thu Feb 16, 2012 5:18 pm

Re: Life Changes

Post by Devil's Advocate » Sun May 20, 2018 3:00 pm

JGoneRiding wrote:
Sun May 20, 2018 2:32 pm
We have talked about doing something like this.

Just caution this will either be the best thing ever for the family or very destructive. Wife needs to be 100% on board and excited about it. She is going to be stuck in a small cabin with 2 toddlers for a while and a drive to take them anywhere.

Think about how she is going to build a social life for kids and her. Check out nearby activities
Yes
Exactly. Agree 100%

Carefreeap
Posts: 2392
Joined: Tue Jan 13, 2015 7:36 pm
Location: SF Bay Area

Re: Life Changes

Post by Carefreeap » Sun May 20, 2018 3:08 pm

JGoneRiding wrote:
Sun May 20, 2018 2:32 pm
We have talked about doing something like this.

Just caution this will either be the best thing ever for the family or very destructive. Wife needs to be 100% on board and excited about it. She is going to be stuck in a small cabin with 2 toddlers for a while and a drive to take them anywhere.

Think about how she is going to build a social life for kids and her. Check out nearby activities
I couldn't agree more. I love camping but I don't think I'd be happy in a situation whereby I had no electricity for a year +. How will she get hot water to clean and wash clothes? She'll be living this "dream" while you're out working having access to electricity and easy hot water. I think it could get old fast. Add in the isolation and it could be really rough on her.

Have a plan "B".

Good luck!

User avatar
Sandtrap
Posts: 5229
Joined: Sat Nov 26, 2016 6:32 pm
Location: Hawaii😀 Northern AZ.😳 Retired.

Re: Life Changes

Post by Sandtrap » Sun May 20, 2018 3:19 pm

Sometimes things look great when a paycheck is large and assured. Even other projects seem immune to failure.
But when a paycheck is not so large and employment not so assured, many things do not look so bright.
Some thoughts.
j

User avatar
Watty
Posts: 13825
Joined: Wed Oct 10, 2007 3:55 pm

Re: Life Changes

Post by Watty » Sun May 20, 2018 3:48 pm

Be sure to find out if you can get the permits for a septic system or a sewer hookup and find out how much that will cost.

Also check on the quality of the schools in that area.

To me there are way too many moving parts and it would be a lot simpler if you just bought the property and built at the same time before you moved there. Even that will be very complex.

Why not just buy an existing house in that area?
Devil's Advocate wrote:
Sun May 20, 2018 12:51 pm
It would cost ~10k for electric hook up realtor says.
You never know until you get the details. There could be a complication with running the power lines or the main line you would need to connect to may already be at capacity.

For your work you may also need a phone in some rural areas there are dead spots where no cell phones get reception. You also may need to be prepared to not have an internet connection.
Devil's Advocate wrote:
Sun May 20, 2018 12:51 pm
Construction loan at later date thru same lender at same rate.
With your change to 1099 work and your spouse being unemployed I would suspect you would have a hard time qualifying for a mortgage.

User avatar
Devil's Advocate
Posts: 260
Joined: Thu Feb 16, 2012 5:18 pm

Re: Life Changes

Post by Devil's Advocate » Sun May 20, 2018 4:20 pm

Watty wrote:
Sun May 20, 2018 3:48 pm
Be sure to find out if you can get the permits for a septic system or a sewer hookup and find out how much that will cost.

Also check on the quality of the schools in that area.

To me there are way too many moving parts and it would be a lot simpler if you just bought the property and built at the same time before you moved there. Even that will be very complex.

Why not just buy an existing house in that area?
Devil's Advocate wrote:
Sun May 20, 2018 12:51 pm
It would cost ~10k for electric hook up realtor says.
You never know until you get the details. There could be a complication with running the power lines or the main line you would need to connect to may already be at capacity.

For your work you may also need a phone in some rural areas there are dead spots where no cell phones get reception. You also may need to be prepared to not have an internet connection.
Devil's Advocate wrote:
Sun May 20, 2018 12:51 pm
Construction loan at later date thru same lender at same rate.
With your change to 1099 work and your spouse being unemployed I would suspect you would have a hard time qualifying for a mortgage.

There are a lot of moving parts. I am not sure buying and building at same time would be simpler. The land purchase and then building would allow me to continue working my current job and socking away more cash. When my house sells next year I can put that equity into building house down there. I would also hopefully have started a new job locally. The loan program is through farm credit services and they are pretty flexible. Google country home loans. But I will talk to them about my employment situation and see what they suggest is the best strategy.

I will get details with electric company. I don't foresee any issues getting power to the new house. I will need to know what they will charge tho.

I had cell service and data on the property deep in timber and down in the hollers.

We think this property has alot to offer. 1 mile off of the main 4 lane highway is important for someone who needs to commute. On a river with timber and good hunting.

I think the odds that we are in the rustic cabin very long while new house is going up won't be too long. Like a summer. Perhaps I start the build in spring and if our house sells we'll move down there for the summer and by fall in new place. I am not too keen on roughing it too long either. But if wife isn't working she may enjoy camping short term. She's pretty low maintenance!

Thanks for giving me food for thought.

DA

minimalistmarc
Posts: 256
Joined: Fri Jul 24, 2015 4:38 pm

Re: Life Changes

Post by minimalistmarc » Sun May 20, 2018 5:40 pm

Why not stay put while you build the new house, then move once it’s habitable?

User avatar
Devil's Advocate
Posts: 260
Joined: Thu Feb 16, 2012 5:18 pm

Re: Life Changes

Post by Devil's Advocate » Sun May 20, 2018 5:48 pm

minimalistmarc wrote:
Sun May 20, 2018 5:40 pm
Why not stay put while you build the new house, then move once it’s habitable?
I guess that's an option. Only thing is timing of selling our house. I would rather not put it on the market in the winter. Since kid is in school plan is to finish her kindergarten year here. If I put house on market this next spring if it sells I would have to head to new property.

Traveler
Posts: 631
Joined: Fri Aug 30, 2013 9:07 pm

Re: Life Changes

Post by Traveler » Sun May 20, 2018 5:50 pm

minimalistmarc wrote:
Sun May 20, 2018 5:40 pm
Why not stay put while you build the new house, then move once it’s habitable?
+1

veindoc
Posts: 372
Joined: Sun Aug 14, 2016 9:04 pm

Re: Life Changes

Post by veindoc » Wed May 23, 2018 8:09 pm

Devil's Advocate wrote:
Sun May 20, 2018 5:48 pm
minimalistmarc wrote:
Sun May 20, 2018 5:40 pm
Why not stay put while you build the new house, then move once it’s habitable?
I guess that's an option. Only thing is timing of selling our house. I would rather not put it on the market in the winter. Since kid is in school plan is to finish her kindergarten year here. If I put house on market this next spring if it sells I would have to head to new property.
Doesn’t sound like you need to sell house to start building. So you can either put it on the market in the winter or maybe wait until early spring to do so.

User avatar
Devil's Advocate
Posts: 260
Joined: Thu Feb 16, 2012 5:18 pm

Re: Life Changes

Post by Devil's Advocate » Thu May 24, 2018 3:14 am

Yeah I think that's probably a good idea veindoc.
I emailed the listing agent asking to write written offer for 10% off asking price. The electric company charges 12/foot for overhead lines. The proposed building site is 2600 ft off grid. First 250 ft free. 29k,! I'm offering 30 k off listed price.

We'll see what the sellers think.

Interview at local hospital went pretty well i think. Just applying for an as needed position with the hope to morph into a more permanent position later if it's a good fit.

DA

Kaktus
Posts: 33
Joined: Sun Apr 10, 2016 1:57 pm

Re: Life Changes

Post by Kaktus » Thu May 24, 2018 4:12 am

Exciting plans! Quite out of the ordinary.

Thinking of my wife, I would keep the current house or set up a trailer or something temporary on the lot to begin with. Stoneage tech is very timeconsuming.

Kaktus
Posts: 33
Joined: Sun Apr 10, 2016 1:57 pm

Re: Life Changes

Post by Kaktus » Thu May 24, 2018 4:16 am

I forgot: there are great digging machines now you can rent for putting power lines and so on in the ground. I mean its very nice if one can avoid having power lines in the air.

Yukon
Posts: 177
Joined: Wed Jan 23, 2008 8:10 am

Re: Life Changes

Post by Yukon » Thu May 24, 2018 4:44 am

Sounds fantastic! For 29k to bring in electric I'd research staying off grid with the home. My limited understanding is that technology is getting closer to making "green" energy cost effective. Plus, on a new build Deltec and presumably dozens of other homebuilders can maximize space and lighting efficiencies. 29k can go towards a lot of solar panels, backup generators, increased costs of build, etc.

I sure wish I had a business that could charge you 29k to bring you my services and charge a monthly (increasing) rate for life! :D

Good luck on the offer!
Don't Work Forever.

User avatar
Devil's Advocate
Posts: 260
Joined: Thu Feb 16, 2012 5:18 pm

Re: Life Changes

Post by Devil's Advocate » Thu May 24, 2018 6:45 am

Yukon,

Thanks for the thoughtful reply. I did research solar and I don't think I can have an off the did system less than the 30k. In the Midwest we would need a boatload of panels.

I know of a guy who did go off grid last year. He has a 15kw system. He can't leave in the winter b/c he has to sweep snow off the panels occasionally. He has 40k in his system and he says it's not for the faint of heart.

DA

User avatar
Devil's Advocate
Posts: 260
Joined: Thu Feb 16, 2012 5:18 pm

Re: Life Changes

Post by Devil's Advocate » Thu May 24, 2018 6:56 am

Kaktus wrote:
Thu May 24, 2018 4:12 am
Exciting plans! Quite out of the ordinary.

Thinking of my wife, I would keep the current house or set up a trailer or something temporary on the lot to begin with. Stoneage tech is very timeconsuming.
We had talked about an RV. As avid RV'ERS (rent them for 7-10 days in Alaska) she would be comfortable in that. But that would need a generator too. Not sure it would add much.

I have a nice generator 6200 watt that could power pretty much anything she needs. But laundry would be problematic. Maybe there's a full service laundry nearby?

As far as burying lines I can ask the price of that. But 12/ft for overhead I'm afraid to ask what buried would cost!!

DA

allones
Posts: 5
Joined: Fri Apr 13, 2018 11:27 am

Re: Life Changes

Post by allones » Thu May 24, 2018 7:11 am

Not financially related, but my perspective someone who spent their childhood in a very rural setting, it felt as though I missed out on a lot of typical childhood experiences that my peers were having, which affected how I felt I fit in socially. Things that seem minor now as an adult, but felt alienating as a kid. For example, not attending birthday parties because it took too long to get to town and back (especially if the weather was bad), having to go home right after school because I had to take the bus so no social time with my school friends, no cable TV (pre-internet, obviously), no pizza delivery, no riding bikes on paved roads, no other children my age in the "neighborhood".

On the other hand, I developed an incredible imagination, threw myself into making music, and since I hand-crafted most of my toys, can build and fix anything :)

User avatar
Watty
Posts: 13825
Joined: Wed Oct 10, 2007 3:55 pm

Re: Life Changes

Post by Watty » Thu May 24, 2018 7:14 am

Devil's Advocate wrote:
Sun May 20, 2018 12:51 pm
Plus electricity hook up of ~10k.
Devil's Advocate wrote:
Thu May 24, 2018 3:14 am
The electric company charges 12/foot for overhead lines. The proposed building site is 2600 ft off grid. First 250 ft free. 29k,! I'm offering 30 k off listed price.
The first quote was almost triple what you expected.

Before you buy the place it would be good to also find out more about all the costs for things like septic systems since they may also be much higher than you are expecting.

terran
Posts: 703
Joined: Sat Jan 10, 2015 10:50 pm

Re: Life Changes

Post by terran » Thu May 24, 2018 7:18 am

That's a really long driveway and it sounds like you're in snow country. Are you prepared for dealing with that?

As others have said, it sounds like a great lifestyle choice -- if you're the sort of person/family that wants that lifestyle! For others (like me) it sounds like hell on earth (or maybe that's what you're looking for given your username :twisted:)

User avatar
Devil's Advocate
Posts: 260
Joined: Thu Feb 16, 2012 5:18 pm

Re: Life Changes

Post by Devil's Advocate » Sat May 26, 2018 6:06 am

terran wrote:
Thu May 24, 2018 7:18 am
That's a really long driveway and it sounds like you're in snow country. Are you prepared for dealing with that?

As others have said, it sounds like a great lifestyle choice -- if you're the sort of person/family that wants that lifestyle! For others (like me) it sounds like hell on earth (or maybe that's what you're looking for given your username :twisted:)
I'm mentally prepared. I have a 50 HP tractor that should be able to plow it. Just need a blade.

DA

User avatar
Devil's Advocate
Posts: 260
Joined: Thu Feb 16, 2012 5:18 pm

Re: Life Changes

Post by Devil's Advocate » Sat May 26, 2018 6:13 am

allones wrote:
Thu May 24, 2018 7:11 am
Not financially related, but my perspective someone who spent their childhood in a very rural setting, it felt as though I missed out on a lot of typical childhood experiences that my peers were having, which affected how I felt I fit in socially. Things that seem minor now as an adult, but felt alienating as a kid. For example, not attending birthday parties because it took too long to get to town and back (especially if the weather was bad), having to go home right after school because I had to take the bus so no social time with my school friends, no cable TV (pre-internet, obviously), no pizza delivery, no riding bikes on paved roads, no other children my age in the "neighborhood".

On the other hand, I developed an incredible imagination, threw myself into making music, and since I hand-crafted most of my toys, can build and fix anything :)
I hear ya. I grew up isolated out in the country too. It was brutal as a kid waiting for others to come and pick me up to take me to town. I also spent my time reading and working on the farm. Like to think it helped mold my work ethic.

This property is literally 5 minutes from town. So while isolated I have a feeling they will have more opportunities to get to town than I had.

DA

drdrgolf
Posts: 25
Joined: Mon Aug 25, 2008 7:17 am

Re: Life Changes

Post by drdrgolf » Sat May 26, 2018 6:46 am

Sounds exciting. Be cautious and believe no one. Last lot I purchased was built on contingencies. Foremost, contingent on getting a building permit ! In Mass., that mean a successful percolation test and within zoning laws. Lastly, go to the Utility company and get a written estimate for the power line installation. A not-to-exceed letter would also be beneficial.
Best of luck to you and keep us posted on the status on the way to completion.

Dominic
Dominic

User avatar
Devil's Advocate
Posts: 260
Joined: Thu Feb 16, 2012 5:18 pm

Re: Life Changes

Post by Devil's Advocate » Sat May 26, 2018 7:52 pm

Purchase agreement signed for 300k. 25k off asking price which was recently reduced from 350k. Told realtor I made the offer low to compensate for electricity access. First offer at 25k and they countered at 300k.

Called courthouse prior and property may be built on with single family home. Property already has septic system at cabin so I believe this won't be an issue. Utility company quoted 12$/ft. First 250 ft "free". Rural water running to cabin so a tying into should be inexpensive.

Plan is at this point to put our home on the market next spring and break ground there as well. If our home sells before school is out will try to close after that.

May rough it at the cabin next summer. Wife would probably spend a fair amount of time at her parents as well. 1 hour 45 minutes away.

As far as work goes am planning on staying with current employer until next summer. Then perhaps transitioning to the hospital 45 minutes away if I can't find something closer. I can handle the commute. 4 lane hwy with minimal traffic. Not stop and go.

Thanks for all the replies.

DA

Post Reply