I decided that it’s time to get a bit more serious about retirement. It’s never to late to step it up a bit, Right?
Even though I live in the city, I don’t want to live here for the rest of my life. I need peace and quiet. I need a place where I can decompress. My heart is in the country. That’s where I want to be. So, I had to make it happen and made some plans.
My first task was to find cheap, vacant land to establish a homestead. I knew I could not afford land with a house on it. So, I chose to search for land that was For Sale By Owners (FSBO) because its easier to negotiate with the land owner than it is with the bank. I wanted the land to be located close enough yet reasonably far enough away from metropolitan cities and have access to a small town with emergency services. I also had to keep in mind of the additional expenses like land tax, zoning ordinances, building codes and fees in the area. Being African-Americans moving to a rural area, sadly, I had to inquire and researched the area for stuff like racist groups.
Then, I came across an ad that said, “For Sale By Owner, 20 acre lots, $20k each, 4% interest, 10 year term, zero down, you make the payments”. People told me “It’s to good to be true. Don’t buy it. There’s something wrong with it.” Blah, blah, blah! Yes, of course, I had my doubts too. I watched the ad for a month and I was surprised to find that the property was still being advertised. So, I did my due diligence and found it to be the real deal. I accepted my blessing and did not listen to the naysayers. I negotiated the deal to purchase 40 acres for $400 a month ($200 for each 20 acre lot). It was NOT too good to be true. When I asked the seller, why he was selling so cheap, he said, “I want to share the love of owning land. It feels good.” Really, that’s what he said.
My advice to those looking for property ~ If you find property that seems to be too good to be true, do your research, ask questions, research, and research some more. If I can do it on my small budget, so can you! Make it happen. The possibilities are out there. Just start looking.