What do you think?? Toying with the idea of buying a new house...

jinnymb

So we are thinking of building a new house here are the pros and cons, just curious of your opinion.  I stay home if that makes any difference with two toddler boys and hopefully a new baby on the way. We are nowhere near deciding yet and I don't want to let emotions get in the way of logic!!

Pro's:

We currently live in a 3 bedroom 1970 townhome/condo (1500sqft) not allowed to fence in yard, no basement, no driveway or garage.  We are busting at the seams and the new house would be 4 bd 2.5bath 2600 sqft. with garage, yard, basement, etc.. Brand new.

We qualify for a 3.5 interest rate, so our mortgage would be about the same.

We are breaking even on our house currently, so not losing any money.

I've been warned by two different people our furnance will not last too much longer.

 The builder is offereing 20,000 in incentives and upgrades right now so we could make it everything we would want.

DH wants to start masters in the spring, so we could be settled by then.

 Cons:

New house is in a school district rated 142 in the state and we are in one that is rated 58. Most others in the area are rated in the 20's to 70's.

The builders are not reputable have had some problems in the past, supposively are on the up and up again.

The new house will have propane heating.

DH is up for a raise/promotion in January and could possibly be making more money so we could afford a better school district? or if he doesn't get it wants to look for a new job.

We would have to sell our house first and live with in-laws while the house was being built (but I think better now, than with 3 kids!!)

We need to replace our master bath before we can put on market and a few other freshening details.

We would also need to buy a van after christmas to fit 3 carseats.

DH's commute will go from 5 minutes to 25 minutes.