Build the Dream or Modify It?
Please weigh in with your opinion...
We are building our last and final home. We fell in love with this dream home 8 years ago. But with everything going on at the moment, we're exploring a couple options:
Build the house and leave the 2nd story unfinished (we will complete 2nd level ourselves over next few years)
Build the 1st level & lose the dream home facade.
Things to take into consideration:
1. We are about to turn 40
2. We have 2 boys ages 16 & 6
3. The house will have a master bedroom/bath, 1 inlaw suite w/bath + 1/2 bath on first level. 3 beds, 2 baths on 2nd level when finished. For single story modification, the living room & inlaw suite will be converted into the kids' bedrooms making it a 3 bedroom, 2.5 bath home on the main level & no inlaw suite)
4. No we don't need all those bedrooms for 4 people...our thought process was master bedroom for us, each son has their own room, my parents have a main floor suite when they come to visit/need to move in as they age(already experienced this with DH's parents) & we have a spare bedroom that can be used as a bedroom or office or anything else we wanted.
5. My husband is determined to give me my dream house (he has already realized his dream: property & a big new shop. Understandably, he wants to make my dream come true too)
6. I'm ok with modifying the dream & building the single story--not great with it right now, but ok.
7. The single story will save us about $50k upfront, reduce our monthly mortgage payment by $270 & no unfinished project upstairs to worry about.
8. The two story will cost us an additional $50k upfront + completion funds & additional monthly mortgage cost but it will have increased market value/greater equity in it when completed.
So which would you do--build the dream (at greater cost but increased market value & equity) or modify the dream (save money but possibly regret not going for the whole enchilada everytime you pull up the driveway)?
Pics of 2 story dream home & proposed modification to single story: