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DieselPony 05-22-2011 11:58 PM

How to Buy Land
 
I was given a great deal by my dad and I'm doing some serious thinking and research into it. My dad was given the land he built his first home on by my grandfather, and because of it he is really good at helping me and my brother get our homes so we can start a life and be able to do the same things for a children. Well, my children, since my brother said he is never having kids I'm getting some serious push for grandkids haha.

The deal is if my boy friend and I find the land we want and purchase it, he will get us a mobile home and put it on the land for us to fix and/or build an actual house on the property. From the sounds of things, he has one in mind already.

So we are putting a lot of thought in to it. We are pretending that neither of us really know anything about building and buying and living outside of a city (both from the country, I grew up on a feedlot/farm) so we can try and think of all the questions, but there is a few things I would like to ask all of you on here that have or are in the process of buying land.

1) How did you decide how much land you wanted? How much land do you actually have now?

2) How did you find the land for sale? Did you use real estate companies? Or an agent?

3) What was the mortgage like? I've been pouring over bank mortgages plans for things like conventional, flexible, mixed and high ratio mortgage. There is just so many options.

Those are the questions I have for right now, but any information, links, advice or do nots are well appreciated. Also feel free to ask any questions or have any suggestions that the two of us need to think about.

This is a huge decision and we really want to think everything through before answering my dad, and while we have a fairly good idea about how to go about everything, there are still so many options and questions.

Thank you to anyone who reads this and for any replies.


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