Author Topic: When and how should I pull the trigger on move to dream property in the country.  (Read 2024 times)

Goose A. Doose

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New poster but I've been reading here for years.  I need help deciding how to move out to my property in the country.  Seems simple but I'm having trouble with getting a timeline together.
Married with 2 very young kids, 31 years old, have been in house since 21 yrs old.  Started as a party house with rent paying buddies, turned into family home recently and i'm not happy about it.  Planned to keep it and rent it but we are growing impatient.  We have 10 acres 25 minutes north of town that we spend almost every weekend at in a camper. 2 mile gravel road leading to it,  400' driveway through the woods,  deer and turkey hunting, atv riding, garden, chickens and rabbits. Pure paradise. We want to build a shop with apartment (google barndominium) soon just to get out there, rent the house, and build something small a few years down the road.  Every Sunday when we drive home its like someone is stabbing me in the gut.  I loathe the city and cant wait for the day that I only drive here for work.  I expect the building to cost 50k.  I'm conservative so having trouble leveraging myself, but the day we move to prop and rent house my expenses will go down even more.  I save 22% of my gross income before company match, no debt besides mortgage and land loan (-150k total). 4 month emergency fund,  All cars/toys paid for, healthy retirement account growing, NW in the +200k area.  I've always lived below my means and gut tells me to wait a few more years to pay cash for shop/apartment but brain says to use home equity or just plain old signature loan to get this building done so family can move to the woods and start the rest of our life.  I have friends who have 50k car loans, that's just not me.  I've paid cash for everything besides house and land, and both of those i put down 20%. 

Would i be a sucka consumer to get a loan to move to dream property and become landlord the same day?  I hope this is enough information for yall to help me figure this out. 

Metric Mouse

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Why would you wait to live the dream? Loans are as cheap as they're ever going to be; if you can swing the payments, pull the trigger. No sense in waiting around until you're old to live your life - that's what complainy-pant non-mustachians do!  You're clearly better than that.  Good luck!


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I think you should check out the blog. They recently left the city and purchased a homestead and are renting their city house out. She goes into some of the financials of it too. If the interest rate is good on a new loan and the city house is cash flow positive, go for it.