<prompt> Human: Here is my dilemma and I would really appreciate opinions from people who have some life under their belts and have experienced home ownership. My wife and I have been trying to build a house for almost 4 years now, here is our financial situation. we purchased land 2.5 acres 56K with 15k of our own money and a 41k no interest loan from my parents. 40k in savings. Home worth 20k more than we owe fixed it up ourselves. Proposed home plan cost of 300k not including what we still owe on the land Current home mortgage of 58k, no other debts. EDIT: Anual Household income is 80k Currently paying 550 a month for mortgage. We are torn between building this beautiful home with room for us to have two more children a big yard to play in and have people over, lots of distance from our neighbors, just generally the situation we both want... or being debt free in our early 30s and all the benefits that entails Either way we will eventually need more room, but my son is only 16 months old we could probably wait 2-3 more years before a larger house become necessity and then it may not have to be a 300-350k one. Im just scared to go 300k into debt. What would you do?EDIT: Sorry, I cant figure out how to format it so the items show up on different lines.  <response>: your mortgage is going from 58k to 300k? a 5x increase? on an 80k income? wow. I would not do that. you are gonna be house-poor. 