My main concern in getting into a house right now was having the amount of unsecured debt.
We are looking at buying land from a friend at a reduced price as far as value. One time he quoted like 5000 an acre and I know its worth twice that if not more.
After the land issue we had checked into a pre-fab type home, maybe putting on a slab or if we did a basement we would do just a small two bedroom. The pre-fabs we've checked into run as low as 35000 to 40000 up too 70000 to 80000. I have never wanted a big home, my theory, we just sleep in the bedroom, no need for big there, cook in the kitchen, eat in a attached dining area, lounge in the living room, one and half baths would be sufficient. My husband and I drive around and see all the huge homes being built, first we can't believe how they can afford it and second, why so big?
If we did this it would be where we would retire, our kids are older but two are still with us.
Our ultimate plan will to try and stay at or around 100,000 complete, might sound unrealistic but its that way or no way. Our rent is 850.00 and if we go into a home, I want the mortgage payment around there including the taxes and insurance.
So that is my dream, at this point in our lives I would never want to be stapped with some big huge mortgage etc. I'd rent forever if that be the case.
Thanks for the information.
Forry