T-Minus 195 Days: Re-Evaluating KB Homes

 We had previously looked at the KB Homes 3203. When we started adding upgrades the cost became insane. We could afford it, but, I don't want to be house poor. I still want to go out to dinner whenever we want, go to Disney, and live comfortably. 

We decided to downgrade to the KB Homes 3016. It isn't all that much smaller but its base cost is $13K cheaper. While the 3203 had a cost per square foot (after upgrades) of $122, the smaller house unfortunately has a higher cost per square foot ($126), but overall it is cheaper. 

We considered going even smaller: the KB Homes Plan 2716 and Ryan Home's Crescent. The 2716 is significantly smaller than the 3016 yet only $9K cheaper with a very high cost per square foot ($137). The Crescent is a massive 25% smaller than the 3203, had a cost of $158/sqft, and had a layout I didn't really like. As a result, both the 2716 and the Crescent were crossed off our list.

We are now left comparing the KB Homes 3016 versus the Ryan Homes Lynn Haven. The 3016 is 219sqft larger and (estimated total monthly payment (including HOA and everything)) around $50/month cheaper, and $13 per square feet cheaper. 

We talked with a seller's agent about our plans to commit to a build soon, then put our house on the market in April, move to Florida in July, and (hopefully) have the house construction completed in August. She warned that we might not get approved unless we can either prove we can afford both mortgages, or, we say we will be using the New York house as rental property (not happening). That was unfortunate to hear. We had been warned several months ago by our sales agent that a builder might require our New York home to be listed. We can't list the house that early - the house isn't ready to be listed and we can't afford to have the house sell and leave us homeless. 

That news was a bit of a set back and we'll have to explore this issue with our real estate agent some more to understand it. I can't imagine we are the only people in this situation and I don't believe it will be a problem.