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/u/Sammy12345671
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My husband and I will be selling our current home (we owe $175k, expecting to sell quickly for $250k).
We’re buying land from family (7 acres with a shop, upgraded power, well, septic needs work) Purchase price of $157k valued at $330k.
We want to put a manufactured home on it for the time being, then build when our income jumps. Estimating $213-$253k for the manufactured home and site development.
Current income of $110k ($36k tax exempt), debt ($400 car, $100 credit card, $80 student loans).
Is this feasible? Do we need more than the $173k land equity and $40-$80k cash?
submitted by /u/Sammy12345671
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Is our income/downpayment enough?
Continue reading...
We’re buying land from family (7 acres with a shop, upgraded power, well, septic needs work) Purchase price of $157k valued at $330k.
We want to put a manufactured home on it for the time being, then build when our income jumps. Estimating $213-$253k for the manufactured home and site development.
Current income of $110k ($36k tax exempt), debt ($400 car, $100 credit card, $80 student loans).
Is this feasible? Do we need more than the $173k land equity and $40-$80k cash?
submitted by /u/Sammy12345671
[link] [comments]
Is our income/downpayment enough?
Continue reading...