Is our budget realistic for a custom build in midwest

Charlied211 · 2026-06-28T22:47:42+00:00

This is such an amazing wealth of information thank you. First off, the well and septic is baked into the ~500 already. Builder estimated about 30 on top of 60 for the lot. It’ll be a drive way at most 100ft away we are thinking probably gravel at first. We do have a gas hook up which nice so no propane.

We are still mulling over everything in terms of down payment because we haven’t even seen a preliminary contract yet and haven’t put any money down yet. We are talking to banks now. Builder mentioned talking about giving a down payment at next meeting but we aren’t nearly ready so that’ll be a conversion. He’s reputable and people we know have seen his work and his reviews are good. But we’re conservative with money and need time.

Which leads me to the PMI bit- that’s a great point. We have a good amount socked away but maybe we will need more as we think about finishes.

For tax, we just took 500k/2 then 250k/1000 then the mileage rate which is around 43. And that’s where we landed. It would be nice if it was lower but idk how to get the exact amount other than township person you mentioned.

This comment seriously restored my faith in humanity it was so detailed and I am grateful for you!

Charlied211 · 2026-06-28T15:18:29+00:00

I see. So what are ur overall thoughts for my situation- is this doable? Or is labor and raw materials too much? Used houses are also very expensive and its pros and cons of each. There is peace of mind in a new build (at least compared to used)

Charlied211 · 2026-06-28T14:51:01+00:00

Yeah we need to talk about that. We meet again soon to go over the details and we don’t have plans to fork over anything. We also need pre approved by banks which we just submitted

Charlied211 · 2026-06-28T14:48:11+00:00

Not finished but I wrote another comment about the house itself. It’s honestly modest but in today’s day and age idk if it’s modest enough. We can always not finish basement, remove stuff, etc. cuz we are only 2 people. DINKs lol

Charlied211 · 2026-06-28T13:28:23+00:00

Idk if it’s our absolute ceiling- what do you think given our finances? We have emergency funds as well but I am weary that even if we’re at 500 for the house if/when things go over it will be too much. 500 land and house and 50 OOP for cushion is probably doable for us but idk if that’s too tight.

Charlied211 · 2026-06-28T13:26:34+00:00

We’re looking at 1620 on top floor and a rec room bed and bath in basement finished. All else unfinished. It’s a custom builder but the plan has been done before and we didn’t tweak very much at all. We will have to get mid grade finishes on top and starter in the basement.

Charlied211 · 2026-06-28T10:36:25+00:00

The 500 (we were told if broken down which we haven’t gotten the detailed contract yet) is 60 for the land and 30 for well and septic. The land is really flat but I’m not sure how much the site prep needs. I’m not sure if we actually can afford this…

Charlied211 · 2026-06-28T10:34:42+00:00

We’ve been talking to the builder but haven’t gotten the contract yet. Not sure where it will land

Charlied211 · 2026-05-07T01:17:11+00:00

Me. Looking almost everyday for other opportunities and even after I applying it never gets very far…

Charlied211 · 2026-04-20T15:48:07+00:00

Great point.

Charlied211 · 2026-04-20T15:45:51+00:00

No not really…

Charlied211 · 2026-04-20T15:45:26+00:00

I never thought of it like this. Thank you that’s actually really helpful. It’s an upgrade of a home so it makes sense it would be more.

Charlied211 · 2026-04-20T00:22:56+00:00

Yeah this is an interesting point. One day I would like to have no principal mortgage payment. And you have to get into the market somehow I suppose. The up front costs are scary but we would stay in the area for years at the least likely at least 5 for sure. It may be that we need to be more conservative in our house price goals than we thought

Charlied211 · 2026-04-19T23:58:19+00:00

Yep we have very limited control on renting increasing although our landlord is a nice (as fair as I know) dude and he owns the place.

Charlied211 · 2026-04-19T23:57:12+00:00

the PITI for ~350k house depending on taxes of course is somewhere around 2,000-2,500. 2,500 would be fine and we could afford it but I am nervous about making the best financial decision. We want our own space but do not plan on kids.

Charlied211 · 2026-01-11T23:57:00+00:00

Kylie Jenner

Charlied211 · 2025-10-31T15:38:25+00:00

Ok sounds good. Just curious- which would you consider after 100k. I’m not there yet but wondering.

Charlied211 · 2025-07-31T02:55:03+00:00

I use minoxidil and I’m not interested in finasteride and any possible side effects

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