I want a farm

[MrsPickle]

Pickle is FINALLY going to bite the bullet and I think we're going to buy when we move to Milton this Fall/Winter. I really want 10+ (more like 20) acres, barn, fenced, house, etc. When chatting with another of the wives who will be moving down to Milton this summer, she said her realtor discouraged them from buying a larger property because it's harder to rent/sell down the road.

As an aside- The "plan" is for us to live in Milton while Pickle teaches at Whiting and then the kids and I would most likely stay in Milton while Pickle does his boat tour. This could mean that we live in the same place for 5-7 years.

I understand our needs/wants (large property, barn, etc) are a little different than the average military family. However, I don't want to be sitting on an empty property (or taking an obscene loss on rental every month) because the market sucks in Milton.

This will be our first home purchase and I want to make an informed decision. I think I'm burning an ulcer more about it than Pickle is (if that's even possible)!

Is shooting for the property we want a terrible financial decision? We have found several properties in our price range, but we are still 4-6 months out from buying.

(p.s. I'M BACK! You all know you missed my smart-ass-ness!)

 

[scoober78]

Pickle is FINALLY going to bite the bullet and I think we're going to buy when we move to Milton this Fall/Winter. I really want 10+ (more like 20) acres, barn, fenced, house, etc. When chatting with another of the wives who will be moving down to Milton this summer, she said her realtor discouraged them from buying a larger property because it's harder to rent/sell down the road.

As an aside- The "plan" is for us to live in Milton while Pickle teaches at Whiting and then the kids and I would most likely stay in Milton while Pickle does his boat tour. This could mean that we live in the same place for 5-7 years.

I understand our needs/wants (large property, barn, etc) are a little different than the average military family. However, I don't want to be sitting on an empty property (or taking an obscene loss on rental every month) because the market sucks in Milton.

This will be our first home purchase and I want to make an informed decision. I think I'm burning an ulcer more about it than Pickle is (if that's even possible)!

Is shooting for the property we want a terrible financial decision? We have found several properties in our price range, but we are still 4-6 months out from buying.

(p.s. I'M BACK! You all know you missed my smart-ass-ness!)

My .02? (And we're after the same thing...property, horses etc...ask Pickle we've chatted...) Here are some words of advice...

1) Don't buy a thing you want (40 acres and a mule) in a place you don't.
2) Don't set yourself up to be a geo-bachelor/seperated from you family for a long period of time...eg a whole tour.
3) Don't buy at your 1st shore tour...there's a very good chance if you stay for a career, you will never be back.

 

[bert]

My .02? (And we're after the same thing...property, horses etc...ask Pickle we've chatted...) Here are some words of advice...

1) Don't buy a thing you want (40 acres and a mule) in a place you don't.
2) Don't set yourself up to be a geo-bachelor/seperated from you family for a long period of time...eg a whole tour.
3) Don't buy at your 1st shore tour...there's a very good chance if you stay for a career, you will never be back.

1) Agree, somewhat, though she seems to be happy with that region.
2) Everybody's relationship is different. I know plenty of folks who had geo-baching work great for them, and plenty others who wish they had done so for some of their tours. You just have to be honest with yourself about whether or not It is right for your life.
3) Disagree as a blanket statement. You have to look at how a purchase fits into your overall financial plan (which you ought to have). Low interest rates, lack of suitable rental property, how much of your income it absorbs, etc. all have to be considered.

If you want a farm and can afford a farm, get a farm.

 

[Fog]

Ms Pickle:
If you have a horse that needs stabling, my daughter has a 10-ac. stable for hunter-jumpers that's 4 mi. south of Milton (~ 2mi. off the bay). I can provide e-mail, telephone, etc. if needed. Just disregard if this doesn't apply.

 

[scoober78]

2) Everybody's relationship is different. I know plenty of folks who had geo-baching work great for them, and plenty others who wish they had done so for some of their tours. You just have to be honest with yourself about whether or not It is right for your life.
3) Disagree as a blanket statement. You have to look at how a purchase fits into your overall financial plan (which you ought to have). Low interest rates, lack of suitable rental property, how much of your income it absorbs, etc. all have to be considered.

If you want a farm and can afford a farm, get a farm.

2) Bert's right here...it can work for some...speaking from my experience, I wouldn't want to geo any longer than I am now...about a year. What you gain isn't worth what you miss IMHO.

Bottom line for me is that if you'd be happy living in Milton, FL for the long term (>10 years) then buy exactly what you want...if not, I'd probably try to find a "compromise" that meets your non-negotiable needs. I based my statement above on the assumption that if Pickle is going to do a boat tour, he is sticking around to try to make CO...or at least complete a DH tour. We don't have to get into his career goals here, but, if he is, and you buy here, you have to assume he won't be back in Milton until he retires.

 

[MasterBates]

I looked at buying a place with land in Milton when I was had orders there to be a HT instructor in 2006. Divorce and subsequent orders change to Kingsville put the kabosh on buying a house for a few years, but here was what I noticed.

In 2006, before the FL market crashed HARD, it was hard to find property that met my needs on a LT budget, that was not trashed (hurricane or otherwise) but they were out there. I was looking at 5+ acres, with a giant garage, and horse potential, but not necessarily horse ready.

Two main concerns I had-
1-Property Taxes for the same priced property (subdivision vs land with smaller house) were FAR higher on the land. Keep this in mind. And if you do any barn or fence/paddock/corral improvements, stand the hell by for your property value to jump insanely.
2-Rental market on the backside (not as huge of a concern if the PickleJar is staying there save Pickle)

I've ended up the accidental landlord twice.
First time in Jacksonville due to a home sale getting tied up in probate, and the market crashing before the courts settled it. I still own this house, and am lucky that I bought cheap enough as an Ensign that I can rent it for more than the mortgage. I'm REALLY lucky in that when it became available last year coincided with my dad retiring, and moving to FL. (telling dad he needs to mow the lawn.. priceless)

Second time was I bought a house in Norfolk and FOS'd for LCDR right after closing. I was expecting 2-3 years more in Norfolk at a minimum. Again, buying in the lower end of my budget and being highly rentable (on the beach, 3 miles from the base gate) has saved my ass again, but that was actually planned on this house, to be a rental when I left Norfolk, but I didn't plan on leaving so soon.

The problem with farm rentals, if you are considering that, is while they can often rent for or above the mortgage, you have to really watch out what you are responsible for in the lease beyond the home/garage, and the pool of people who want to rent a farm is much, MUCH smaller.

My parents owned a farm, close (commuting range) from Boston, it was priced right as a rental, and it still sat empty for over a year.

That being said, I just bought a giant ass house in Wyoming, but we don't plan on leaving anytime soon, and I can tell the Oil Company to fuck off if they try to transfer me, and I don't want to leave, or if they don't buy my house for FMV (common in my industry with transfers/promotions).

If you no-shit plan on being a Miltonian forever, buy what you want, but just go in with open eyes/ears. As a first time homeowner, you are biting off a lot that you might not totally understand until you buy your first house.

 

[The Chief]

This is a hindsight view of what I perceive to be the issue. BTDT, so to speak.

I agree with the post, to wit; if you want a farm and can afford a farm, by all means buy a farm.

I disagree that "wanting a farm" is different from the dream of the average military family. I think it is in the psyche of the average American. At least most that I talked to on the subject over many years. BTDT.

I bought a place to live at most every duty station. By and large it was a wise decision, a couple of times I took the proverbial bath. I think that each time I bought a place, in the back of my mind I saw myself remaining there or returning for a lifetime. Ha. Life changes one.

My first "buy" was a 10 meter sloop, Mololo, docked in the Ala Wai Yacht Harbor, Honolulu. Lived aboard, city water, power, telephone line, showers in a community facility on property. Heaven. Could motor out to PH, rig sails and be off to paradise. Somewhere I have a photo of three scantily clad bikinis washing down the boat with me in a chair on the fantail drinking a Primo. Glad I did it, glad I got it out of my system. Life changes one.

Fast forward to the early 1970's, bought a place in Metro DC. I disliked the rat race so much, I decided it was time to buy that farm and retire. 25 +- acres in West Virgina. Old farm house with a front porch. I saw myself in a rocking chair, ‘coon dog at my side, double barrel nearby and a jug of White Lightning; watching the world go by. A horse, cow, chickens, a garden, and a deep pure well was my dream. I still own the place, never lived there, old fellow lives there for free in exchange for caretaking duties. Never even hunted in the hills surrounding. Now, could not bring myself to put the hammer down on Bambi. Life changes one.

Learned to love the Rat Race that be DC. Kept the place in Potomac, 3/4 acre, too lazy to maintain myself so hire it all done. Small garden, ten tomato plants, 2 of each kind, couple of ‘cukes, the mandatory herbs are all enough to get my hands dirty to satisfy that inner urge to own a farm. My sister in Florida owns a couple of TB horses, grand daughter rides the "circuit". I hate to go down and care for the horses, the horses hate me. Glad I do not own one or more precisely, one does not own me. Life changes one.

All that said, all decisions we make are sub-optimal. Because the foreseeable future ain’t.

I hope this helps, it is great to ask for advice; but in the end it is a personal decision, of course.

Welcome back.

M/C

 

[Jim123]

(telling dad he needs to mow the lawn.. priceless)

"My roof = my rules. When you get your own place then you can make the rules!"

I dropped that cliché on my Mom once. She was visiting my place and suggested that I paint one of the rooms a certain way. Of course, I said it in a mischievous-but-loving son kind of way.

 

[scoober78]

Fast forward to the early 1970's, bought a place in Metro DC. I disliked the rat race so much, I decided it was time to buy that farm and retire. 25 +- acres in West Virgina. Old farm house with a front porch. I saw myself in a rocking chair, ‘coon dog at my side, double barrel nearby and a jug of White Lightning; watching the world go by. A horse, cow, chickens, a garden, and a deep pure well was my dream. I still own the place, never lived there, old fellow lives there for free in exchange for caretaking duties. Never even hunted in the hills surrounding. Now, could not bring myself to put the hammer down on Bambi. Life changes one.

Call me if you ever want to sell it....Really.

 

[insanebikerboy]

Two truisms of real estate and rental properties.

#1 - Buy the cheapest home/property in the nicest neighborhood. People want location over most anything else. This applies to properties like farms too.

#2 - If you're renting a place out and it sits empty for more than a few months, you're asking too much in rent.


As for Milton, if it were me I would look for a farm north of the base, heading up 89 towards Jay. Definitely out in the country and there are some decent sized farms from what I can remember.

 

[MasterBates]

Rule one is spot on.

Jax house is the nicest place in a meh neighborhood. Can't sell it for a profit if i wanted, and I've owned it almost ten years.

Beach house is a cottage surrounded by huge million plus dollar houses. Could sell tomorrow and pocket six figures and I have owned it less than two years.

Nevermind the rental. I've got a list of people who want in when current tenant leaves in two years.


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[MrsPickle]

I'm not totally sure this is where we want to retire (or God-forbid for Pickle... "get out"). When asked what he would like to do for a career long-term, he told his XO (now CO, as of Friday), "Emperor of the World!" That pretty much sums up his desire to stay in the Navy until they roll his crusty ass to the curb.

This is where the question of where the PickleJar fits into the equation. This fall will be move #10 in almost 9 years. This will be duty station #6 for Junior (who will be 6 in October) and #4 for the Diva (who will be 4 next month). I'm kind of tired of movers being in my house... Honestly, as most of you know, Pickle and I don't have the type of relationship where we have to be in the same zip code. I like him and all, but he gets under my feet and in my way. Also, he occasionally likes to party till dawn like he's a 22 year old single Ensign. Problem is, it takes him 3 days to recover (case in point, he's still "recovering" from partying Thursday night!).

We met showing horses for Iowa State, and save for 2 years during OCS and Junior being born, have had at least one horse. We currently have two. Some guys get grills or cars for homecoming gifts from their wives, Pickle got a 17hh 1300# Thoroughbred Eventer gelding. We love showing and will most likely continue to make this a priority at our next duty station.

Conversely, (and this is where I'm having attachment issues to buying in Milton) my family's farm in NE Missouri is going under and we have been seriously considering buying 40 acres from my grandfather's estate to keep/hunt/rent out to farm and eventually retire there. I'm not sure where this plan went in Pickle's mind and where it fits in with our "current plan."

There are still a lot of questions, and conveniently enough, Pickle will be off chasing bad guys, so it will be via Skype and email. Wouldn't be the first time, and it won't be the last!

Thanks for the input guys, it's interesting to hear how much priorities change as the career changes.

p.s. Fog- I'll be PMing you in a bit, it would be great to have a contact down there. Thanks!

 

[MasterBates]

How is NE Missouri?

I'm in Carrollton working in a pipeline for Sinclair, and it has the look of an awesome town/area.....

Until the tweakers ran amok.

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[Swanee]

My first "buy" was a 10 meter sloop, Mololo, docked in the Ala Wai Yacht Harbor, Honolulu. Lived aboard, city water, power, telephone line, showers in a community facility on property. Heaven. Could motor out to PH, rig sails and be off to paradise. Somewhere I have a photo of three scantily clad bikinis washing down the boat with me in a chair on the fantail drinking a Primo. Glad I did it, glad I got it out of my system. Life changes one.

I am jealous. I have the wife on board with my idea- we just have to agree on the boat. She wants a cat. I don't.

 

[Rocketman]

I've done the horse farm thing......bought the land with a very nice existing house then built a barn, put up all the wooden fencing etc. I love horses and I loved the idea of owning the horse farm (10 acres) but keeping 4 twitchy thoroughbred horses on your property is a metric shit ton of work, not to mention down right dangerous at times. (as I'm sure you guys already know)

When your weekend honey do list has "load, unload and put up 100 bales of hay, mow the lower pasture, move the manure pile and fix the hole in the stall " it got old pretty quick. I still love horses but like'em much better on somebody else's land.