[USR]

We make $160K combined and currently living on a 10acre lot in a tiny house on wheels, paying $550/month for rent. Our only debt is a $600/month car payment for the next 45 months.

The land market in our area (Northern VA) is limited with inflated prices of ~$300-500K for 5-10 acres. We do want to stay in the general area due to family, friends, and diverse area. We want the bigger space for privacy and know that we’d enjoy having our own land even with the maintenance. We don’t plan on having kids and would use the land for little farm animals/gardening. This will probably be the biggest investment in our life as we plan for this to be our forever home.

My boyfriend built our tiny home on wheels and is willing to put in the sweat equity to build a small home on foundation. We probably won’t be actually building until a year or two later.

We’ve invested a little over $600K in our brokerage and would love to hear people’s inputs on our situation:

• Is it worth it to break our brokerage and pay in cash?
• Since our rent price is so low, is it worth waiting to buy later on whenever the market cools down? The only downfall is that living in a tiny house on wheels isn’t technically legal under our zoning laws; we can be evicted at any time.

[Sabrina]

Possibly an unpopular opinion, but if you are combining finances & have a whole entire life planned out together- I’d say you should probably tie the knot. That is an impressive sum in a brokerage account for your ages.

I’m not sure why you are paying rent for a tiny house your bf build unless you are renting the land? Or maybe he’s charging you rent?

Not sure, either way, if this is your dream, I’d stop contributing to brokerage and still save aggressively putting it all into a hysa.

Put the 20 percent down, and live our your dream without touching your life savings!

[Carrie]

Personally I’d stay renting until you find the right lot/acreage for you. Then move your tiny house to it while you build your next place.

Your brokerage account should be making what you pay in rent a year easily. Personally, I think the housing market will probably settle more in the next year or so..

B.T.W. Don’t miss: So we bought our house in 2019 with the intention of turning it into a rental – But..

[Charles]

Also, we’re all assuming the market may cool down and prices will drop, i don’t assume that in any of my future plans with realestate.

But I also don’t see them creating anymore land as they say, so I’m buying it up as quickly as I can.

[Author]

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