[csonneman]

I would suggest house number 2. If you are at all handy in a few years you can add on a bedroom or bathroom. And the value of land will only continue to rise. If you can hold it long enough you could sell some of the property and add on to your house to make it what you want and maybe even pay off more of the mortgage. You have to go with what you are comforable with. If power outages are a big concern. Generators run on gas are getting cheaper and cheaper. Also with the space you have you could install a fire place and have plenty of land to get wood from to use it. One more point would be that if you like to garden and raise animals you will have less costs in food because you are creating your own.

The drive for you in small, some people in big cities drive further and never leave the city limits. As for you children a bus ride is not all that bad. They really do not miss out on much, especially if you are able to get them from their activities after school on your way home from work.

I just thimk having that extra land will pay off in the long run. People are going to want to be out where you are and only want a small lot. Check around and see what lots cost for new housing and you might find you could be sitting on a gold mine in a few years.