I Need help! Me and my fiancé are 25 and a few monthes ago we bought a piece of land in the perfect location for 60k and we now owe about 46k left on it. We originally planned on building but no bank is going to lend us the money due to us trying to general contract, long sorry short im burnt out on building and it’s not going to happen. At this point we need to decide. He brings in 3k a month and I bring in anywhere from 2k-3k a month, and we have 55k in a savings account. We went and looked at a mobile home and fell in love BUT it’s 204k, plus 46k on the land, plus closing costs, and about an extra 10k for land prep.

We also thought about a used mobile home but those are about 30-40k for a single wide, not in new condition, plus 8k to move it, plus the 10k land prep.

Last consideration was a tiny house, which is my last option as I know we would be stuck in it for a few years and not sure that’s where we want to raise a child if we have one in the next 2-4 years plus it’s constantly being on top of each other. We figure it would be about 40k total for the tiny house and prep. My question is what is normal % of income to go to mortgage and other bills? I ideally want to stay home for the first year of our future child’s life so we would only be on his income, and maybe i could pick up a night or two of waitressing. So should we just dive head in to something that we would love and would suit us for years and years with possibility of refiancing when interest rates are down or do we go with something we don’t love at all but a way lower mortgage if anything at all? I need help:(