We sit on ~.5 acre and have a neighbor on the left side. There's a dried up creek bed behind us and an empty lot on the right side of us.
So, we only have 1 adjacent neighbor.
The lot just came up for sale (asking 50k, we'd offer 40k and maybe split the difference) and we're thinking about buying for two reasons
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1) to keep some privacy
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2) investment: outside of our subdivision, all the new lots are all ~.1 acre(some smaller!!) so these larger lots should be more desirable in the future.
Our home is valued ~285k, we currently owe ~86k.
We refi'd back in 2011 at 15yrs / 4.25%.
Credit score ~760
What's the best financing route to take if we wanted to buy this lot?
Thanks a bunch, TC.
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