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If you think your new home is prudent for you, then you can think of this as making up for sale. Take a moment to say " I could've had a V-8!" and be done with it. Cry now and smile when you move in.
In the end, making a decision because of a sprinkler system code makes me scratch my head (most of my hair is already gone). Since I do not know the details and what percentage of costs it will really add to the cost of the home it is your money. !Bang! Make sure you can sell your house or you will end up with 2 payments.
There are scenarios where you might â€œwinâ€ by doing this, but they are not as common as the ones where you â€œlose.â€ My hope is that you would do the math up front, perhaps with a trusted money advisor, and decide what is right for your plans and what risks you are taking on. Donâ€™t let yourself be disillusioned now while you have control of your situation; only to have your options taken away from you later.
Great that you are seeking advice - at first blush it sounds like Debbie Rose might have the short & sweet answer for you below.
Kevin Pellatiro http://www.trulia.com/profile/kevin/
Hoping to help you take advantage of the market â€“ when you are ready.
(615)714-7918 | email@example.com
But a local Real Estate Agent could be of some help, at least with competitively pricing your current home, it all depends on your financial situation, the amount you owe the bank on your current home etc. We may not have all the right recommendations for you, not knowing all the details...
Good Luck and please connect with an experienced area Realtor for advice and guidance.
Edith YourRealtor4Life and chicago Connection
Working always in the very BEST interest of her clients
You stated you "couldn't carry 2 mortgages".
Since that's the case (as it is with many people), then you have no choice other than to sell now, have that money sitting in the bank, and then proceed with buidling your home.
Of course, in that scenario, you'd have to rent in the interim.
It's not easy, especially in this economy, to choreograph building and selling a home, and not being caught with 2 mortgages.