Been thinking about buying a piece of undeveloped land out in the countryside, nothing huge, just a few acres to eventually build a cabin or something. But the more I look into it, the more confused I get about financing. Seems like banks aren't exactly jumping at the chance to lend money for land without a house or structure already on it. I mean, I get it—it's riskier for them—but still, there's gotta be some way people do this, right?
I've heard some folks mention credit unions or smaller local banks might be more open to it, but I'm not sure how true that is. And then there's seller financing, but that seems kinda sketchy or at least complicated. Has anyone here actually gone through this process and can share how they managed to finance their land purchase? I'm open to any tips or warnings or whatever, because right now I'm feeling pretty lost, haha.
I totally get why you're feeling overwhelmed—financing land is confusing. My partner and I looked into something similar last year, and you're right, traditional banks weren't exactly enthusiastic about it. We ended up talking to a local credit union, and honestly, they seemed way more flexible about it. Didn't pull the trigger yet (still debating if we're ready), but definitely felt more doable through them than the big banks. Seller financing made us nervous too...felt like a lot could go wrong there.
