Lately, Eric and I have started to think the house addition isn't in our family's best interest. Even though it pains me to admit it, Eric and I need to be uber-responsible and plan for our future. Since the design plans were drawn up four years ago, we have spent money for the plans, a building permit (which expires in November), and widening the driveway. At this point, we haven't felt a huge financial hit when it comes to the house because of the the investment from the sale of our first home.
However, in the past four years, we have also lived life with one income. A teacher's income, no less. Living on one income is dipping deeper into our savings account than we anticipated, even with a tight budget. If we begin the house addition, payments for the the house loan immediately go into effect. Immediately doubling our mortgage payment. Immediately sucking more money out of our savings account.
However, in the past four years, we have also lived life with one income. A teacher's income, no less. Living on one income is dipping deeper into our savings account than we anticipated, even with a tight budget. If we begin the house addition, payments for the the house loan immediately go into effect. Immediately doubling our mortgage payment. Immediately sucking more money out of our savings account.
I am NOT okay with this scenario. AT. ALL.
Losing our savings account on a house isn't a smart move. We haven't made the final decision but the thought of letting go of the house addition feels right. It saddens me but I think it's the right decision, based on our current financial standing.
Sometimes, being a grown up sucks.
Sometimes, being a grown up sucks.
On the up-side, we have created a list of what we will remodel and landscape in the yard.
On a budget we can afford.
Just like we did with our first home.
On a budget we can afford.
Just like we did with our first home.
For what it is worth, I am insisting we begin with the upstairs bathroom.
Where Eric swears he can put in my Jacuzzi tub.
I've got my fingers crossed for a walk-in closet, too.
I agree, being a grown-up does suck sometimes, but it sounds like you guys know that this is the best choice for your family:)
ReplyDeleteInstead of purchasing or building a new home, when seeking more living space, many people choose to add-on to their existing homes. Whether you have an expanding family, or just feel like you’ve outgrown your current home, but don’t want to part with it, a home addition may be the solution.
ReplyDeletehome addition builder in Wenham