Some background:
We bought a wonderful house in 2004 at 129 NW 50th St, Seattle WA 98107. When we bought the house, the lot next door was still owned by the guy who sold us the house. The lot comes between us and the great view of the Olympics and Puget Sound. When the lot came up for sale about a year after we moved in, we jumped at the chance to buy it. We jumped so far and fast, in fact, we didn't take into account that it might be a financial commitment that would bite our butts down the line.
Less than a year later, we're changing our plans. We can't afford the mortgage on the house and the payments on the lot. It's more than my take-home salary every month, which is crazy. Our plan, then, is to build a house on the neighboring lot, at 131 NW 50th St.
So far, our plans consist of:
- fix up our current house
- sell our current house
- move into an apartment or house (rental)
- oversee the design and construction of the new house
- move in to the new house
- updated the furnace in the current house
- started on the new house designs
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