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Jill on Money with Jill Schlesinger

Can We Afford to Buy a Piece of Land?

Jill on Money with Jill Schlesinger

Audacy

Education, Investing, Business, Self-improvement

4.61.9K Ratings

🗓️ 24 March 2022

⏱️ 16 minutes

🧾️ Download transcript

Summary

We're considering a HELOC to purchase a piece of land that's near our primary residence. Good idea or bad? 

Have a money question? Email us, ask jill [at] jill on money dot com.

Please leave us a rating or review in Apple Podcasts.

"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Transcript

Click on a timestamp to play from that location

0:00.0

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0:03.6

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0:07.7

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0:11.8

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0:18.2

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0:22.4

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0:26.7

Based on customer numbers for verification email, advertising at MailChimp.com.

0:34.0

Welcome to the Jill on Money Show. It is Thursday, March 24th,

0:39.0

and we are delighted that you are joining us today.

0:42.3

Actually, we are delighted that you join us every day.

0:45.2

Please go to JillOnMoney.com, click the contact us button.

0:48.6

And that is what Julie did. Julie joins us from New Hampshire. Hi, Julie,

0:53.0

welcome to the program. What can we do for you today?

0:55.8

Thank you so much for having me. I'm very excited.

0:59.0

My question I wrote in about was, does it make sense or is it okay to get a home equity line of credit

1:08.4

to buy a piece of land? Tell us more. Would you own a piece of property already?

1:15.0

Correct, yes. We own a house. The little bit of background is I've made maybe not great

1:20.9

financial decisions over the last few years. So I want to make sure I'm towing the line a bit more.

1:28.5

And I also have a new financial advisor who seemed to think that was okay to do,

1:33.6

but I got ghosted by my last one. What? So I'm still just a little uncertain.

1:40.1

Oh, yeah, yeah, yeah, ghosted by your advisor. That's bad.

1:44.2

Was it someone who was ready to retire kind of? What do you think happened?

...

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