<prompt> Human: My wife and I are interested in buying some land and building a custom house, but we really would love to know if its something thats doable for our finances. With the land, permits, and house construction, the project were looking at could go up to 750k, which is much more than we were originally thinking. But if we plan on putting roots down and living there 20years, maybe it isnt unreasonable? We are 31 years old. My salary plus bonus is 115kyr, her salary is 43kyr. We are debt-free dinks for now, but would like to grow a family soon. Right now we spend 1600mo on rent and save 4kmo. We currently have 140k in savings checking accounts, 268k in a professionally managed investment account, and 70k in 401ks. Weve made a lot of sacrifices to get where we are today and want to move forward with the project, but also dont want to be house poor or drastically impact our financial trajectory.Any advice would be greatly appreciated!EDIT: Thank you all for the sound advice! You shared some very compelling reasons why the project likely isnt a good idea. We read through your comments in detail and agreed to not move forward, at least not for now. You also gave us some great tips ifwhen we take another look at it. So thank you again!  <response>: My experience is that if someone really wants something they will do whatever mental gymnastics needed to justify it. My personal advice is that you probably dont want to be house poor especially if you want to start a family. Having a more reasonably priced home and being able to put away more money towards college funds and family vacations will probably be more important to you over the next 10 years. 