My husband and I are in a great financial position right now. Saving and investing about 40% of our salary at the moment. We currently own a home with a payment of $1,300 a month with 12 years left on the mortgage. We have about $60k in equity. We both want to own some land near the city in which we live in. There are several properties on the market right now that meet our requirements. Problem is...our house payment will go up between $500-$1,000, which means $500-$1,000 a month LESS into savings and retirement in addition to adding 30 years of mortgage/interest payments.
Our goal is to retire in 22 years, and we are on track to accomplish that.
If we buy one of these homes, this will be the home that will allow us to have the life we desire. I am just not sure it is worth the cost...
suggestions?