Bought a home in 2021 for 75k at 2.8% interest rate but husband and I would like to move onto acreage to start homesteading.
So this home is in my name because I bought it in 2021 before ever meeting my husband and we have listed it for sale about a week ago because we would like to buy property to be able to homestead.
My husband is a 100% p&t disabled Vet so we would like to go through the VA for a loan but it seems that it would be over our budget to do what we want to..
What we would like to do is buy the land and build a modular home on the land. We haven't been finding much if anything that would be 'move in ready' because of the VA standards.
Our current income is around ~$4800 monthly and our main house bills are currently around $2000.
We don't have much for savings, have 2 kids with another one on the way.. we want to be able to raise animals and garden on our own land but I'm not sure about how feasable it is to do so..
Our baby is due by christmas.
I need some advice or at least how to figure out finances for the situation? He is so confident we can just 'figure it out' and make money from the farm + not be spending much on groceries due to farming. But being this close to our due date and than having to be in between houses(staying with family) is putting a LOT of stress on me to the point its hard to sleep most nights.
I do need to mention that this home we are currently in does need a lot of work as well (foundation repairs due to michigan basement coming in on one side, new roof, new AC unit..)