Purchasers of these lots fall under the classification of "Tree Farmers", and as a result are only taxed on one acre of the land, and the rest is free and clear from taxation. The location of these lots, and the topography is what Hubby and I have been looking for. And we’re broke.
Don’t you hate it when that happens?
We actually had found one lender that only requires 10% down for the land, and 5% on a new construction loan to build on the land. With me still in college, two of the boys in braces, the third needing to get into braces in the next year or so, and Hubby’s school loans coming due next month, we shouldn’t even be looking at things like this.
But does that stop us? Noooooooooooooooooooooooo!
Who knows, maybe we’ll win the lottery. As always though, our chances of winning would be greatly improved if we bought a ticket!