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Down Payment Fund Update

August 3rd, 2015 at 09:48 pm

$31,000.00 Starting Balance
+__,500.00 Deposit
---------------
$31,500.00 New Balance

I'm not really sure what my goal is on this one. Most farms with 5 acres are $350,000, so $70K would be 20%, but I think I'd like to have a bigger chunk than that. I enjoy life without a mortgage and I don't want to have a huge one when we do buy. I guess for now, though $70K can be what I am aiming for with $35K being the first big milestone, since it is the halfway point.

Posted in | 2 Comments »

2 Responses to “Down Payment Fund Update”

  1. Petunia 100 Says:
    August 3rd, 2015 at 11:03 pm 1438643025
    1438643025

    Were you able to get the balance owed to the contractor sorted out? I recall you saying he wanted you to hold his money, but don't recall reading any follow up.

    May I ask, did you deposit some of the money from selling the house into the college fund?

    Sorry if these questions are nosey. But, well, I'm nosey. :P

  2. LuckyRobin Says:
    August 3rd, 2015 at 11:13 pm 1438643604
    1438643604

    No, I still have the money for the contractor sitting there. He's in bankruptcy, so anything I give him now he won't get. If he doesn't get things sorted by the end of the summer, we're going to say not my problem, pay it, and he can deal with it.

    Nope, we didn't put any money from the house sale into the college fund. DD is taking a gap year and working (hopefully) then planning on going to the local vocational college, which is much cheaper. DS is also planning on going to the vocational college, at least at this point, for engineering. I will be putting some money into the college fund after the JMF is fully funded for this year.

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