Help me plan for building a new custom home FAST
I need help sorting out a plan for the next year or so.
-a .33acre+ lot, upon which to build . . .
-a ~2500sf custom home
as well as
-a new truck
I believe we have enough income that if we get creative, this can all be pulled together by, say, next June.
We have: -$10k savings for this purpose
-all six credit scores for us are 760+
-$1850/mo lease thru jan '13
-$165k projected pre-tax income 2012, which provides . . .
-$30-40k (gradually) available over the next year to save/spend to hit these targets.
We're already paying around $2k/month rent. I'd like to invest that in home equity instead of pissing away over $20k/year for nothing in return.
We want a custom home instead of a tract build because we want the space arranged differently than the plans available in the Sacramento area, where we're looking to buy a lot.
-$19k @1.9% car
-$7k @0% credit ('toxic', but no interest; pay this or save for bigger down payment?)
-~$100/mo student loan payment (quite inconsequential, really)
If we take the $10k and put it on the car, we can prioritize for interest and have that paid off within three months. Then another two months for the credit card (if necessary) and six or seven months to save down payment for new custom home move-in July 1, 2013.
But it won't work like that . . .
We need some help figuring out the cash flow.
It seems like in order to get the house completed for next summer, we�d need to get the lot ASAP, then plan, finance and build the home ASAP.
What steps do we need to take to make this happen?