Thinking to purchase a bug out location? Don’t listen to the lenders and don’t endure financial strain. Choose cheap land. Read more to protect yourself.

1. Simple and Amazing Budgeting For
Bug Out Location Purchases
By Ken Jensen

2. If you don’t make smart choices when purchasing a Bug Out
Location (BOL), you could eventually lose it because you
couldn’t afford it in the first place.
Do you want to know what you can afford?
Check out these simple technique that can tell you something
that is affordable according to what your income is.

3. Don’t Listen to the Lenders!
Typically, Lenders tell you that a mortgage payment with Principle,
Interest, Taxes and Insurance (PITI) added together should be
28% of your monthly income. Don’t do this. This is an
overextension of the typical person today. This doesn’t even cover
the total price.

4. Your First Purchase Shouldn’t
Break the Bank
Your first home price
should not exceed your
yearly income and the
Monthly PITI should be
no more than 20% of
your taxable income.
If you make $50,000 a
year, then you
shouldn’t purchase a
home that exceeds this
cost (I give a 5%
deviation here). If you
have a decent credit
score, your mortgage
will end up being $400 -
$500 a month which
will be somewhere
around 10% of your
monthly income.

5. Always provide a down-payment
of 20%.
Always provide a down-payment of 20%, when you can. This
will bring the monthly cost down to 2-300 dollars. It is totally
worth it.
If you have horrible credit and no down payment, then you may
achieve 20% of your monthly income, but you should consider if
this is wise.

6. Don’t Endure Financial Strain
after Your Bug Out Land
Purchase
I am assuming that you
already have rent or a
mortgage payment that is
eating up some of your
income.
Your secondary location
should be no more than half
of your yearly income, and
should cost less than 10% of
your Monthly income. So
your BOL should cost you
(assuming you still earn
$50,000 per year) less than
$25,000 total and less than
$500 per month. With
decent credit, this would
actually be around 2-3
hundred dollars per month.

7. Cheap Land with a Large Down
Payment will make your Bug Out
Location affordable.
You will have to achieve this
one of the following ways.
Choose Cheap Land – This
option doesn’t mean that you
don’t get what you want.
You can get creative on how
you will achieve this with
repossessions or land that
needs some TLC or work.
Provide a Large Down
Payment – This will reduce
the price of the property. It
will also reduce the risk to
the lender, who will reduce
your interest and monthly
payments required.

8. Sound Choices are the Best Way
to Protect Yourself
If you want to protect yourself, you have to take the time to analyze
everything. Don’t get emotional.
Don’t get impatient. You need to give yourself time to save up and
to find good deals. If you are actively looking and stay patient, you
can find those great deals that everyone else seems to get.

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