Penny Pinching Mom

A Different Approach to Our New Home Dilemma

We’ve been trying to find a way to come up with a down payment on a new home, but so far have been unable to do so. Then I decided to think outside the box a little, and I’ve come up with an idea. I’m not sure whether it will work or not, but it’s worth looking into.

I was looking at the website of a local real estate broker when I ran across some unimproved land. There were lots of small parcels available for less than $10,000. When looking at houses, I was hoping to find something with a down payment of 6 or 7 thousand. But if we could save up just a little more than that, we could pay cash for a small piece of land. Then we could start saving on getting whatever we needed done to it accomplished, and then worry about putting a dwelling there.

I don’t know how long it would take to do all of that, but if we could manage to do it while borrowing little or no money it would be awesome. No interest or mortgage payments to worry about would totally rock. It’s something to think about.