Husband wants to buy a new house but I don’t.

[DamonMoral]

EDITED TO ADD ROUGH BUDGET!

NOTE: this is the low end of our monthly income. It fluctuates from month to month because of the kinds of jobs we work. Bring home could be this, or upwards to 1000-1500 more than the bring homes noted. We budget based on the minimal bring home we expect. We currently put 12% of husbands income and 10% of my income in retirement. My husband also invests an extra $400 a month straight from his paycheck, so that is not included in retirement and not included in bring home.

INCOME
SO (significant other) (significant other) #1 monthly take home 2700
SO (significant other) (significant other) #2 monthly take home
other income monthly 3500

BILLS
mortgage 760
Netflix/other streaming services 16
cell phone 230
Utilities 300
alarm 60
life insurance (outside of work) 24
car insurance 250

DEBT
car loan 355
Car loan 300

MONTHLY SPENDING
auto: fuel 150
charity 600
groceries/toiletries 500
eating out 200
blow money 200
entertainment 100
retirement savings (outside contributions through work) 500


Hi, I’m new to this group. I’ll try keep this short but I really need an outside perspective. We bought our house straight out of college. It’s smaller, older, in a dated neighborhood....etc, etc. We knew it was not our “forever home.” We didn’t originally plan to have kids in this home but here we are and it’s getting a little crowded.

My husband is absolutely set on selling our house NOW and buying a bigger house in town. Housing prices have inflated so much since we bought this house 5 years ago, a house with slightly more square footage than what we have will nearly double mortgage, even with the equity in our current home. We *can* afford a newer house in town (while heavily relying on my income and having to make budget cuts). I just don’t think it is the wisest decision for us right now.

On the flip side, I own 5 acres of land a little outside of town. It was always our plan to eventually build a house there. Now, he doesn’t want to build for various reasons he has never discussed with me until now.

I want to stay in the house we’re in now regardless because it makes more sense to me to save money for a down payment either way we choose. He says that is pointless because housing prices are going up so much we won’t be able to save at the rate of inflation.

Maybe it makes more sense to bite the bullet and buy a bigger house in town. To me it makes more sense to save a lot of cash, be a little more secure in our finances, and THEN buy or build. I think he is scared of what the housing market is going to do so he just wants to make a jump. From an outside perspective, what do you think?

I’m also very frustrated because I feel that he is just making the decision for us. He talks to our dang realtor more than he talks to me and he’s obsessed with the freaking house situation. I just want time to think and stay where we are but he thinks this is so urgent.

[MikeBrooklyn]

It sounds like you and your husband are in a bit of a dilemma about buying a new house. It's great that you're considering your budget and financial goals in this decision. With your fluctuating income, it makes sense to budget based on the minimum bring-home amount to ensure financial stability.
If eco-friendly living is important to you, Grupo EcoQuintas might offer some ideas on sustainable housing solutions that could align with your values. Exploring different options together could help you find a compromise that works for both of you. Best of luck with your decision!