Well, when we moved into this cabin, we agreed to "Rent with the option to buy". Well Tony has been bringing it up to us quite a bit lately about us buying this place. I guess just because he really doesn't want it anymore. That & he's money hungry. Shane & I have been talking about it & we've talked to a lot of different people about it & the amount Tony wants. He wants $47,000. I personally thought that was about $20,000 too much considering all the work we put into this place over the summer & what we're still doing to this day. We've talked to quite a few people though who are telling us that the land itself down here is quite expensive so we're actually getting a decent deal.

Well then came the talk about the money. How are we going to get $47,000? Shane's & mine's credit is shot. We were both idiots & got credit cards after we graduated that we went way overboard with & are still paying for. We talked to Tony about all of that, about us most likely not being able to get a loan anywhere, or if we did the interest rate would be out of control & not having anyone to cosign so he brought up us buying it on a "Land Contract". Now I'm still looking up information on this so I don't know a whole lot about it yet. But basically, we'll have to go a lawyer with Tony to get a contract written up. Tony then hands the lease & everything over & the cabin will be ours. This way, instead of getting a loan & paying the bank, we'd be paying Tony just like we have been for the rent only it'd be a house payment. But like I said there is still A LOT I have to read up on before we jump into this. Shane said if we do this he doesn't want to drag payments out for 30 years, he says he wants it paid for in 10 years. The payments each month would fall right around $500 which is completely do-able because we're paying $500/month now. My mom keeps telling me to wait it out a few more months, make sure after this winter we still want to live down here & own this house.

I think we're going to do it though. This cabin has a lot of potential. & if it came down to the point where we didn't want it anymore, we could save money, demolish it & put my dream modular in. We'll have an acre of land. It's BEAUTIFUL down here, I love it out here. The neighbors are great, everyone watches out for everyone. It's quiet. The only thing I could complain about is how fast people drive on this road, but I'm guilty of that too once in a while. It is a back road & all. Shane & I have really been talking a lot about this lately though & I'm starting to get kind of excited! He said the other day that the first thing we would do is level the floors up (They kind of droop in the middle, not extremely noticeable but still). Then we're going to start with the living room & completely redo the electrical, walls, ceilings, floors, you name it. We'll do it all room by room so our whole house isn't completely torn apart at once.

Do any of you know anything about these "land contracts"??