I called on a piece of land last night to get some details. There are very, very few options in our area that fit our criteria. Like, two. Two options. So I called on our first choice. Got the information. It's still looking good; still our first choice. But gosh. The numbers. I've got all these numbers floating around in my head; all these scenarios. If we use the equity in our current house to buy the land; if we got a bare land loan to pay for it; where will the money come from? How will we make the payments? How will we make those payments AND save up an emergency fund. Is that even possible? We'll rent out our current house once we're out of it and that will bring some extra income but what about until then?
Sure, we can trim the fat & live super frugal now--but what about in the coming years? How long can we keep that up? Grocery costs will (presumably) keep rising. The kids will keep growing. They'll keep requiring more & more food. They'll keep wearing out their jeans at an alarming rate. At some point, I'd probably like to have a smart phone again at some point (petty, I know).
The bottom line is I just need more information. I need to meet with the custom home company and see what the options are. I need to find out what our payments would be for each scenario. I just need to keep chipping away at it. But in the mean time, I feel like I'm just treading water. The wheels are turning but I'm going no where fast.
I need to slow down. And work on the first step. Back to the basics. Get more information. Keep saving money. First things first.
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