Sell or keep struggling
Hello I would like to get some opinion on a matter that has my head spinning. We currently have an empty lot of 2.56 acres in Texas which we got for 190k back in 2023. We currently owe 129k
We haven’t been able to build because of our current bills. Whenever we were younger we thought it was a smart idea to get vehicles out of a dealership and now we are stuck with 2 truck payments and our mortgage totaling 5k a month.
They are going to start building a high school right in front of the lot I’m sure the value would go up but we need to move out of where we currently live and we cannot sell that home it’s a small home in my parents land. Would it be a good idea to sell the lot pay our debt (cars) and try to get a new land with the remaining ? My credit isn’t the greatest because we have really struggled these last couple of years and I am afraid we won’t get approved to buy anything afterwards.