Hi all! This is my first time posting here and I hope I can get some advice from smarter people than myself :). So my wife and I own a fair amount of land and are looking to build a home on it. We found a builder we like about a year ago and have been working with him ever since in getting everything finalized (permits and such) to begin building.
Well, we were originally looking at building a home that came out to be around $350k. After some personal additions and unforeseen septic/driveway costs the total is now around $391k. What we didn't realize when we began the process was that the cost of the permits and civil engineering work (due to some hiccups) was going to come out to be around $15k out of pocket.
So now we're stressing out slightly about whether or not we spread ourselves too thin. We've spoken with a mortgage company and have received a quote of about $2100/month including mortgage insurance. My wife and I make about $5900/month combined after taxes with roughly $1300 due for debt (car/student loans). Combined gross salary comes out to $118k/year.
What are your alls thoughts about our current situation? If more information is needed just let me know!
Submitted April 25, 2019 at 07:56AM by Shotdown210 http://bit.ly/2IRJnVr
