It’s time.  My wife, mom, and I are building a house together.  It’ll be a 8-10 month process, but it’s time to make it happen.

There are a handful of financial and personal reasons behind the move.  On a personal side, mom is aging and living alone.  She’s been hinting at wanting to live with my wife and me and it makes sense.  Luckily, my wife is Thai and culturally, they prefer to live with their parents.  I’m cool with it as long as the house is big enough to give everyone enough space so we don’t get on each other’s nerves :/.

Financially, there are a few standout reasons to consider real estate right now.  The first is related to the insanely low interest rates.  I was pre-approved for sub 3%, but the real rate won’t apply until closer to closing.. As long as it remains below 4%, I’m a happy camper.  The second big catalyst is that my mom is going to help with the down payment and monthly bills (thanks mom).  The numbers make sense between a 50% down payment and a 3% interest rate.  And third, I need more real estate.  With this move, my wife and I will focus our energy on paying off the house we currently live in.  The goal is to pay it off in the next 10 years (hopefully sooner) and start realizing the additional $2500-$3000/mo in passive, rental income during retirement.

If  you’re interested in the house building process, stay tuned.  I’ll keep you updated on the process here with posts and vids.

Let the games begin.