hey guys so my scenario is this
income -75k for last 5years
dependants - 2kids and wife
savings -50k and possible to access further 100k but dont want to liquidate this investment if at all possible id rather keep as emergency buffer.
im considering getting some vacant land for 250k and putting a modular on it budgeting for 200k so 450k total.
my initial online calculations tell me i could borrow around 375k so I'm about 25k short..
i was wondering if better to buy the land and wait till I've built up some equity in it to use, or just wait on the whole thing for another couple of years till wife is back in work and saved some more. By then of course the land will prob have gone up another 50k. I was wondering if my budgeting is realistic or I'm missing something?