(Closed) Need some house advice…

posted 6 years ago in Home
  • poll: What would you do?
    Wait another 6 months to allow us to save more & get the house we want : (23 votes)
    62 %
    Make small sacrifices and start the process ASAP : (14 votes)
    38 %
  • Post # 3
    Hostess
    18643 posts
    Honey Beekeeper
    • Wedding: June 2009

    You might not want to wait, the increase of the price won’t add too much to a loan over the course of 30 years.

    Post # 4
    Member
    2548 posts
    Sugar bee
    • Wedding: October 2011

    Well I would definitely not go for the second lot, if you have to compromise the type of house you want. A rancher styled is so different than a two storey, and it could really cause some resntments down the road. Especially since its only 2k difference. Could you find ways to cut the budget in some of the finishes, for example: a quality laminate vs hardwood,  or corian countertops vs granite. Not sure what you have to start.

    Personally I think its best to take out the extra 10k because that lot might sell within 6months, and you would be back to square one. But you need to do whats best for you guys finaincially, and I don#t know what your financial situation looks like.

    Post # 4
    Member
    1471 posts
    Bumble bee
    • Wedding: April 2012

    i dont think the interest rate will jump way up in the next 6 months.  This is your forever home, you need to build it the way you want it.  I say save and be happy, who knows something else may pop up 🙂

    Post # 5
    Member
    3618 posts
    Sugar bee
    • Wedding: November 2011

    This is definitely a tough decision that you want to sleep on for a few days before deciding. It’s amazing that you get to custom build your dream home, but it sounds like the 2nd lot wouldn’t be your dream home. My 2 cents is: if you’re custom building something, it better be what you want.

    Post # 7
    Hostess
    18643 posts
    Honey Beekeeper
    • Wedding: June 2009

    Since you have already walked away from the first lot, I would wait a bit.  Interest rates aren’t going to increase that much in a couple months, maybe a few points but that won’t do much for the monthly payments.

    Post # 8
    Member
    368 posts
    Helper bee
    • Wedding: July 2011

    I’d say if you are fine with the lot, go with it.  $5k doesn’t mean too much when you think about it in terms of a 30 year mortgage.

    Post # 11
    Member
    14497 posts
    Honey Beekeeper
    • Wedding: June 2011

    Aw shoot, looks like my vote is off the table.  I would have just paid the 10k to fix the soil.  The second lot is arleady 8k more and hasnt been tested?  What if that has issues too and *still* cost 10k to fix on top of the 8k more pricetag?  I would have paid just the 2k more (10k over 8k) and be done with it knowing that lot could move forward.  2k is nothing in the life of the mortgage.

    Post # 13
    Member
    14497 posts
    Honey Beekeeper
    • Wedding: June 2011

    @cherrycoke:  Does that happen?  That it’s fixed, but not really permanently?  (I didnt even know there could be soil that needed to be addressed like that)  Does that mean that all the surround lots have the same issue also?

    Post # 15
    Member
    5428 posts
    Bee Keeper

    I would keep the house plans etc… and look for another lot where there are no soil issues. The soil issues could last forever and you may not be able to sell the house later if you have to.

    The topic ‘Need some house advice…’ is closed to new replies.

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