Build house on Shields.
We could build a house off of West State Street, near the old Highway 55. Our mortgage payment will stay about the same, our house will be very large and we will be next door to my mom and dad. The house will appreciate at a normal rate.
Buy house on Regan.
Buy house on 23rd and Regan (about 6 blocks from Jimmy's shop). Our mortage payment will double. The house is very large and old and it needs quite a bit of work. (We could do almost all of the work ourselves.) If the popularity of the North End stays strong we could sell the house in a couple years for 100,000 to 200,000 more than we paid for it. We will offset our mortgage costs for about a year by sharing the house with my brother and his fiance. They are trying to save money to buy their own house. While they live there they will help with the work needed on the house.
Ok, that is as objective as it gets.
So, vote and leave your comments and then I will tell you which option I choose and detail the pros and cons of both options (for me).