I've been a long time lurker on this board, and this is where I prefer to get my news updates. My wife and I purchased land in September with intentions of building this year, but I've been getting cold feet. My wife is wanting to press forward, but I am concerned about the price of materials, potential for a rise in interest rates, and difficulty selling our current home.
Are there any pedes on this board that can give me some good information to consider in this process and also educate my wife on the good and bad? Should we press forward with selling and building or slow down? I appreciate any information provided. We are in our early 30s, both nurses and have 3 small children, so I don't want to cripple us financially.
hey Focker, where abouts are you thinking to build ?
I think you should not rush this. the politics of your town, county and state can't be understated in current times and if you want to pack up and move to a Texas, Florida or other location you will stand to lose money and have a hard time extracting yourself from the process.
materials are quite pricey and hard to get currently, but not impossible, at least not yet. you should find yourself a good amount of land to expand on and be able to be self sufficient in the instance you need to be. it should have a good well, trees for firewood/energy generation, etc.
it's never been more obvious what you should be seeking for a property, so if what you and your lovely wife seek does not fit certain criteria I'd pull back
good luck
Thanks for the info. We are in Northeast Louisiana. We went in with my wife's family. My FIL got a little over 18 acres, my wife and I got 4.8 and my BIL got 4.8.