Rec Land and Home

Discussion in 'Iowa Whitetail Conference' started by StickersNKickers, Oct 17, 2019.

  1. StickersNKickers

    StickersNKickers Camo Up!

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    Hey guys, wife and I are looking at buying a different home for various reasons. Just thought I'd see what opinions/pros/cons others might have on buying something with rec ground vs buying home and then a separate piece of rec. The home piece will need enough space for a few head of livestock and preferably hay ground, so we'll already need to be rural. Should add, not sure building is an option at this time. Thanks!
     
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  3. Wapsi Tree

    Wapsi Tree Well-Known Member

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    I have to say there is something kinda nice about stumbling out the front door at O'dark thirty and it's only 200 yards to the nearest stand. If it's a slow morning, get down and go to work. If the timber lights up, call in sick. I prefer to tell the boss I have anal glaucoma....just can't see my butt going to work today. :)
     
    Last edited: Oct 17, 2019
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  4. IowaBowHunter1983

    IowaBowHunter1983 Super Moderator Staff Member

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    You get a lot better interest rate on home loan. Near historic lows currently. This is a consideration.

    You are limited on acres to be fannie/Freddie conforming. Forget what that cap is. Can always do second loan on remaining acres if necessary .

    Sure be nice to have it all together imo.
     
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  5. hillrunner

    hillrunner PMA Member

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    I'd love to have all my land right out the back door! I'd get way more of my projects finished.
    With that said, I rarely see a home sell with any substantial amount of land anymore. Most are sold off as acreages.
     
  6. arm

    arm Leg

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    I'd like to live on the property because trailering everything to the farm gets old. On the other hand, I'd like to sell and buy new whenever I'd want without having to move homes. My thought is to always live on something huntable...a modest home farm if you will. And own elsewhere as well.

    Sent from my SM-G973U using Tapatalk
     
  7. 2-bucks

    2-bucks PMA Member

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    I prefer it attached to my house. Ease of access and maintenance is a huge benefit. But like others have mentioned it is hard to find. If you get lucky you can kind of have it both ways. I bought rec ground 35 minutes away several years ago. Then recently moved houses but bought 20 acres along with the new place. So i have a bigger piece a little ways away but a decent fun spot attached. Hauling equipment is one definite draw back though.
     
  8. madplotter

    madplotter PMA Member

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    We live on our 180. Can't say we'd do anything different but it took us 18 years to put it all together. Patience is the key as well as knowing the generational status of surrounding ground. We bought our first 80 in 1998 from a son who lived 200 miles away. The mother was 70 at that time and we stayed in contact and we were able to buy the homestead 1/2 mile down the road in 2000. We then worked our tails off and prepped to purchase more. In 2014 we got a little bonus when a neighboring 20 acres came up for sale and we were able to swing it. Then in 2016 the family matriarch passed and we purchased the remaining 80 to connect every parcel together. There is still a remaining 80 from the original that we may get bought in the next 6-10 years but as we age, time is no longer on our side when it comes to farm loans. Having a parent/mentor who understands this process is nice. I have the best parents in the world but they never had any experience with this process so I had to put in extra work to learn the process and I made plenty of mistakes...

    In retrospect, I can offer what I've learned:

    Set a goal
    Form a plan and share with your banker.
    Maintain a good relationship with a banker. Banks ebb and flow but good bankers are great folks to know. They are smart and in the know.
    Be genuine and kind to your neighbors.
    Let your plan be known to people you trust.
    Do the homework and know the status of ground in your area.

    Unless you've got cash to work, then you just go buy it...;-)

    It's a hobby/passion just like hunting.
     
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  9. 7mmsendero

    7mmsendero New Member

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    My 2 cents on this topic (from experience), it’s hard to find a situation where both a pretty good. Often the land is great to good, house has issues (or the neighborhood). Afterwhile I found it’s easier to keep them separate, having a good house in a good location matters.
     
  10. Hardwood11

    Hardwood11 Well-Known Member

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    I like them separate, but a cabin and land together would be kick ass.
     

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