the survey is getting scheduled today to plot off our future 10 acres. we are getting a great deal and are paying cash. plan to build at some point but there are a few things to think about,,,
1) we are renting - have been for 5 years. rent is less than half our former mortgage. no lease. landlords want us to stay b/c we take such good care of it(200 yr old log home on 4 acres). i feel certain our rent will never go up. if we couldn't pay it for a while (which is not a concern - just looking at our "benefits") - they'd be fine with it. when things go wrong, they fix it or we do and subtract it from rent. truly, it is ideal financially and for our kids - they love it - huge yard, fields, woods, garden, chickens...
2) always wanted to build our "dream house" across the road and now the land is about to become ours.
3) i work a day a week as an rn - otherwise, sah homeschooling with three kids 6 and under. we want to be able to remain in the current work situation so that i can continue to homeschool.
is it the best time to build now with these "hostorically low rates"? should we wait and just see what happens? it seems like it's gonna be more expensive to own than rent. if we want the land, now is THE time to buy it - the chance won't come again for multiple reasons (we can't believe they finally agreed to sell!)
advice? i'm scared! i've owned before, but i didn't have kids then and dh and i both worked fulltime. i'm just a little scared of moving out of this comfort zone.