TLDR; Selling our house and building a new house seems like it would save us $500 a month in utilities and fees, worth it or a pipe dream?
We bought some land and want to build a super efficient passive house on it. An architect firm quoted us a ballpark of 400k for the design and building of the new home. The new home would be solar electric with well and septic, so we wouldn’t have utility payments… or at least they would be minimal.
At our current property, our monthly utilities come to $500/mo including hoa fees. We still owe 200k on our home, but can probably sell for $500k in the current market.
At first glance, it looks like if we built, we would come out ahead because we would save $500/mo in bills and our mortgage would be roughly the same but with a lower interest rate.
Does it seem like a good move to do it now, or wait until we pay off our current home?
Submitted September 28, 2021 at 07:20PM by WidgetNorth https://ift.tt/2XWLoZU
