We currently have a mortgage on our house. Once we sell, we will have enough to have paid for most of the block of land (about 85% of the 270k for the land).
Within reason obviously, based on our incomes and what we can technically be lent, how much will the bank lend you?
Base house price is 280k but with all the upgrades, alterations, landscaping and having everything completed eg driveways, curtains etc, as well as the rest of the land, we'd be wanting to borrow approx 450-500k.
Houses in this new estate are currently selling for 600-700k. So if we were to only borrow 450-500, this would work wouldn't it?