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Rivers, MB | Our plan for the last 10 years has been to pay down land as fast as possible. It minimizes our risk to interest rate hikes. Memories of the early '80's are still fresh in my dad's mind. This strategy has caused our average age of machinery to increase and our repair bill is a higher BUT our land base has increased dramatically and provided stability to our farm. I would rather pay the land down quickly and be cash poor then stretch out payments and have cash on hand. Rate of return on the cash is low and is tempting to succumb to "new paint disease"!! Seems to be working for us.
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Paying down land
