Last month we talked about paying off one of our loans for two acres of land we bought in 2013. Here’s the bank statement that we received. I loved seeing those words: PAID OFF
The land is across the street from our home. One day we saw a for sale sign go up. The previous owner defaulted on the loan so the bank was selling the land. We called the bank and bought it to avoid someone building next to us. The bank gave us a ten year loan, but we paid it off in two years. I guess you’d say it’s a luxury purchase, but having privacy is important to us. We have no plans to ever move so we’re investing in our long term future. The two acres is also a prime piece of forested real estate if we ever wanted to build on it ourselves. Land is never a bad investment IMHO.
Anyway, we always love hearing sellers talk about how they use their profits beyond just paying monthly bills.
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