My husband is out of his mind!

[eliza61]

Okay, I'll say it. Yes it was.

And you would know this how?? oh yes I forget the magical crystal ball that allows you to know what strangers mean.

If I had meant to be offensive, I would not have apologized.

 

[Bob NC]

.

 

[neatokimmo]

OP, if this land thing does happen, see if the parcel can't be split into 2. That way your investment isn't mixed with the brother. And I am sure you all can write up a first refusal type thing too in case one wants to buy the other out.

 

[kirstenb1]

OP, my head would explode if dh proposed this idea!!! I understand your frustration.

 

[horseshowmom]

It is fairly common to lease land from individuals so that you will be the only one allowed on the land to hunt... is also common for people to buy what is otherwise worthless land in the middle of no where so they can hunt when they like but with a full understanding that the land has no water or other utilities and will be worthless as an investment.

It is fairly common.

We're in the southwest, and I can honestly say that people buying hunting land have really driven up the cost of purchasing land. My husband and his brother lease land to hunt on. I'm not a hunting fan so he doesn't hunt on our own property.

Thanks Bob NC, I wanted to say it but was just going to let it go. It's like prefacing an offensive statement by saying "with all due respect" but then saying something very disrespectful.

I know I have a great marriage and he is a wonderful and smart man and I don't need to explain that to anyone. Of course I wouldn't come out to my husband and say "I won't allow it," it was just part of my venting on a message board. I also don't think someone getting carried away with their dream and trying to make it a reality is reserved only for 12 year olds or someone that is "immature." Some people like to stir the pot.

My husband went up to his deer lease today to get it all ready for the upcoming hunting season. The BIL is really pushing the idea of land more so than DH because BIL doesn't have a lease to hunt on and has to "mooch" off other people. I'm being very encouraging of continuing in the deer lease for years to come!

I don't think you were out of line, and I don't think you portrayed your husband as an idiot either. Sometimes, men or women, can get carried away with an idea that isn't practical.

I am surprised by the comments that a loan for land would require 20 - 50% down. I have always been told that you can not get a mortgage for land?

My daughter and her husband started looking for land recently with an intent to build a house (preferably 75-100 acres). They could only find financing for 5 to 7 years (they have excellent credit and make a good salary - she herself makes more than her dad and I put together). That was with 15% down.

Then they looked into buying land with a house already on it. They were told that generally you can't get a mortgage for the house and all of the land. The house and usually no more than 10 acres would have to appraise for enough to cover all of it, or the rest of the land would have to be purchased separately.

The only other option would be to get a farm loan which can be for up to 30 years. Since he wants to raise cattle, that was an option, but the farm loans dried up just about that time.

So, unless the OP's husband and brother can come up with a significant down payment and pay everything off fairly quickly, she probably doesn't have anything to worry about.

 

[okeydokey]

My husband has talked about buying a big parcel of land to hunt on for years, but we could never afford another mortgage payment. The cost of this land is at least as much as our home mortgage. I would never go along with such a huge purchase that only one person in the family would benefit from if it meant that big a sacrifice from every person in the family. Nobody but him would use the land and I find that unfair.

If we had the extra income, I would have no problem with it, but if we had to give up every other luxury to buy a piece of vacation property it had better be for something the whole family would use and enjoy.

 

[mikehn]

There are 10 of us that pool our money and lease about 5-6 hunting properties every year. We rotate hunting the properties so as not to put too much hunting pressure on any one property. Animals are smart, they are not going to come back after getting shot at. Game is there one day, and gone the next. Dumping money into one hunting property is not a good idea.