Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 07-11-2010, 08:58 PM   #21
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,074
Quote:
Originally Posted by NW-Bound View Post
And REW, why 50A? Without AC requirement, a 15A outlet would be sufficient, for crying out loud. What do you do? Stringing Xmas lights all around the RV?
The hot tub requires a lot of juice.
__________________

__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-11-2010, 09:44 PM   #22
Full time employment: Posting here.
sailor's Avatar
 
Join Date: May 2005
Location: Atlanta suburbs
Posts: 881
1. What does your DW think about it? Never mind I should have hit refresh to read your message above
2. Will you let us camp there when you buy it?
__________________

__________________
sailor is offline   Reply With Quote
Old 07-11-2010, 10:24 PM   #23
Moderator
bssc's Avatar
 
Join Date: Dec 2005
Posts: 9,923
We own land in Fremont County, CO so I am biased towards Colorado. I would say go for it.
__________________
Angels danced on the day that you were born.
bssc is offline   Reply With Quote
Old 07-11-2010, 11:14 PM   #24
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
If you (and the wife!) really really really want it go for it. But just because somebody else buys it now doesn't mean it is off the market permanently. In 10, 15, or 20 years from now you'll be in a better position to take advantage of the place. The land isn't going anywhere the new owners maybe be willing or even anxious to sell. Sure the price may (hopefully will be higher) but will be a lot higher who knows.
__________________
clifp is offline   Reply With Quote
Old 07-12-2010, 01:06 AM   #25
gone traveling
 
Join Date: May 2008
Posts: 3,864
Buy it!

I owned a 500+ acre ranch in Wyoming for 15 years; it was a childhood dream that never went away. If I had passed on the opportunity to buy it when it became available, it would have always been "the one that got away".

You only go around once; grab the ring!

WS
__________________
Westernskies is offline   Reply With Quote
Old 07-12-2010, 06:47 AM   #26
Confused about dryer sheets
 
Join Date: May 2010
Posts: 6
slightly off topic, but maybe whats so awesome about the area is that you arent looking at a bunch of cabins, utilties roads ect that are being suggested here. If you just buy the land and use it for camping etc that would cut down dramatically on the cost associated with your plan and keep the place beautiful.
__________________
snowjob is offline   Reply With Quote
Old 07-12-2010, 09:41 AM   #27
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,196
Forget it.

Since you won't be able to use it for 20 years, except to go there and look at the view now and then (which you can do without purchasing it), you need to look at it for what it is: an investment. In that case, you should evaluate whether it is a good investment or not. Whether it's beautiful or smells good is not an issue.

If it's not a good investment, forget it. There are millions of beautiful lots, there is no way that this is the only one that will make you happy. You can find something else in 20 years if you are still interested.

The financial dreams of many are destroyed when they fall in love with a house, and just have to have it. They know there they will never find anything else as nice.

This consequences of this decision could dwarf those of many of your other financial decisions -- don't make it based on emotion.
__________________
Al
TromboneAl is offline   Reply With Quote
Old 07-12-2010, 10:09 AM   #28
Recycles dryer sheets
NW Landlady's Avatar
 
Join Date: Jun 2010
Location: Seatlle
Posts: 185
Quote:
Originally Posted by TromboneAl View Post
Forget it.

Since you won't be able to use it for 20 years, except to go there and look at the view now and then (which you can do without purchasing it), you need to look at it for what it is: an investment. In that case, you should evaluate whether it is a good investment or not. Whether it's beautiful or smells good is not an issue.

If it's not a good investment, forget it. There are millions of beautiful lots, there is no way that this is the only one that will make you happy. You can find something else in 20 years if you are still interested.

The financial dreams of many are destroyed when they fall in love with a house, and just have to have it. They know there they will never find anything else as nice.

This consequences of this decision could dwarf those of many of your other financial decisions -- don't make it based on emotion.
ITA with Al, who knows what your retirement needs/goals/situation will be & it will detract from achieving FI. I have met many retired peeps that still hold their "retirement Land" and never use it or need it when they are FIRED, because so much has changed in their lives and perspectives since they purchased the land.
__________________
NW Landlady is offline   Reply With Quote
Old 07-12-2010, 10:36 AM   #29
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,416
Quote:
I am 36 years old

For the most part I am pretty good at deferring pleasure opting to save now and enjoy later. This opportunity has presented itself and I am seriously considering trying to nab this slice of real estate heaven (can you tell I admire it). Am I crazy for wanting to buy this land knowing that other investments will probably have better returns over the next 30 years? I know I am emotionally connected to this issue but should I allow the emotions to be part of my decision or just let the logical/calculated logic drive my decision? Any advice for someone like me who's facing a decision like this?
Is this property intended to be a potential post-kids FIRE full time destination or a second home type getaway location? Big difference.

Your age is an asset. The opportunity cost is x additional years of work. That might be a good deal if you get an additional FIRE option or if x is not a big number. It also might be an getaway location that limits your family vacation capacity.
__________________
MichaelB is online now   Reply With Quote
Old 07-12-2010, 11:39 AM   #30
Moderator Emeritus
Rich_by_the_Bay's Avatar
 
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
I'm a believer in the adage that there is no such thing as a "once in a lifetime" opportunity. If you turn it down you may lose that parcel but there will be others, or you'll stumble on to the boat of your dreams, or your tastes will drift and you'll buy remote beach property, or a financial downturn will make you glad you still have the money, etc.

Not saying you should or should not buy it, but with a family in an uncertain future, be careful. Buying it and then stressing out for decades will not make you happy. If you feel you can swing it and get by nicely and securely great. If not, don't get seduced - there are always new opportunities down the road, maybe even better.
__________________
Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.

As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
Rich_by_the_Bay is offline   Reply With Quote
Old 07-12-2010, 12:05 PM   #31
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 5,459
For some reason I have you living on an island off the coast of Brazil....Are you in the states? If you haven't seen the land in 10 years you need to see it again; when a kid, Bazooka Double Bubble was the best flavour in the world - sometime later it was gawdawful. Could be that area is all built up now or the views are of the new powerlines & wrecking yard. That said, if it is still what you remember and you still want it - buy it. Lots of views and land out there, but if a place is perfect for you - grab it. You can always start another discussion board to pay for it, right?
__________________
calmloki is offline   Reply With Quote
Old 07-12-2010, 12:22 PM   #32
gone traveling
 
Join Date: May 2008
Posts: 3,864
Quote:
Originally Posted by calmloki View Post
You can always start another discussion board to pay for it, right?
fourpercentswr.com is available...
__________________
Westernskies is offline   Reply With Quote
Old 07-12-2010, 12:44 PM   #33
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,380
For me anyway, one of life's thinnest pleasures is owning a beautiful piece of land. I have not always felt that way, which brings up the issue that not only do times and circumstances change, so does one's own self. Of all the things I thought would be just right for me over the years, only two would pass the screen today, as I am and and as my circumstances are now. Living right where I do live, or in a similar set-up no more than a few miles away, or going back to whatever LA Beach City I found both affordable and still appealing.

The rest, happy as I was when I was there and living that life, I couldn't be forced to do today. A foot cannot be put into the same river twice.

This may not apply to you in any way, but then it may.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 07-12-2010, 05:44 PM   #34
Thinks s/he gets paid by the post
 
Join Date: May 2005
Location: Texas
Posts: 1,038
You need to go look at it and then make your decision.
__________________
In theory, theory and practice are the same. In practice, they are not.
Lazarus is offline   Reply With Quote
Old 07-12-2010, 09:41 PM   #35
Administrator
Janet H's Avatar
 
Join Date: Feb 2007
Location: Pacific NW
Posts: 4,954
Sometimes you just have to close yer eyes and jump.

If you do, I'm up for organizing the 1st annual 'Camp at Andys' e-r.org bash.
__________________
E-R.org Custom Google Search | You're only given a little spark of madness. You mustn't lose it. (Robin Williams)
Janet H is offline   Reply With Quote
Old 07-14-2010, 01:58 PM   #36
Recycles dryer sheets
 
Join Date: Feb 2008
Posts: 452
Hmm...I don't know. It sounds wonderful being a dream come true, etc. but this time span of 20 years sounds sooooo long away. I don't think I'd be able to commit to such a deal.
__________________
aida2003 is offline   Reply With Quote
Old 07-14-2010, 03:12 PM   #37
Recycles dryer sheets
 
Join Date: Jul 2010
Location: Milwaukee
Posts: 53
I have some thoughts:

1) Four pillars style, sit down and do the math. What will it cost you on average to vacation there; vs your normal vacation? How does it affect your ER date and 4% plan... how many years of work does it add. Etc.
2) What developments have gone on around it lately? Have you kept up with the local news; is there going to be some development that will soon ruin it? My uncle built a beautiful house into a hill just out of a large forest. He had a waterfall running around the side and down the hill to a coy pond. Then some guy bought the forest and leveled it.
3) Back to math for a sec... how many of your yearly vacation(s) will now be retreat vacations.. how much will this save or cost you?
4) Could you timeshare it or rent it out?
__________________
Coderguy is offline   Reply With Quote
Old 07-14-2010, 03:28 PM   #38
Moderator
Sarah in SC's Avatar
 
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,456
I'm afraid I'm in the "no" camp, because a lot can change in your life between now and when you expect to be able to use this property. Priorities may be completely different in the future.
As you know, there are many many beautiful places in the world and you may find that you don't want to trade the chance to take your family to see them for just going to visit this one place.
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

Sarah in SC is offline   Reply With Quote
Old 07-14-2010, 03:58 PM   #39
Full time employment: Posting here.
kaudrey's Avatar
 
Join Date: Feb 2006
Location: Alexandria, Va
Posts: 941
Hi Andy,

A few weeks ago, we closed on a log cabin in the mountains in WV. The price was right, I love the cabin and the town it's in, and it gives us a weekend place for now, a retirement place later. Paying the mortgage means we will be saving quite a bit less a month than we are now, but....

I had come to the conclusion that I will have to work a few more years than I had been planning because of health insurance restrictions (I'm a fed). Even with the mortgage, working the extra 4 years (til I am 57) means that I should be able to comfortably retire then even with reduced monthly savings.

When I eventually sell my townhouse, it will pay off both mortgages, and we'll have a place to retire. So, I figure it's a good trade. Plus, we get to enjoy it now as well - we spent the last two weekends out there, and sitting on the deck at night watching the stars with a glass of wine just brought a calm over me that is hard to value.

It is a big decision; but there are always trade-offs in life. You shouldn't live now always waiting for the future; you have to balance enough enjoyment now with the prospects of future enjoyment later.

My opinion: go for it!
__________________
Two roads diverged in a wood, and I - I took the one less travelled by...
kaudrey is offline   Reply With Quote
Old 07-14-2010, 04:12 PM   #40
Confused about dryer sheets
 
Join Date: Nov 2005
Posts: 7
Is there water?
__________________

__________________
SilentSwirl is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
40 and need a reality check jessy Hi, I am... 17 12-06-2009 03:28 PM
Reality Check -- Government lying SOBs pedorrero FIRE and Money 13 05-22-2008 09:32 AM
Texan Newbie here....would like a reality check! dahcdahc Hi, I am... 8 08-31-2007 05:37 PM
Reality check on racism calmloki Other topics 23 06-11-2007 12:49 PM
Reality Check foxhuntr Hi, I am... 15 03-09-2006 11:25 AM

 

 
All times are GMT -6. The time now is 08:33 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.