Some of you may remember my post from a couple months ago entitled "Where's the money?", well the time to put the plan into effect is almost here. As the holidays were upon us we didn't want to do anything just yet but as soon as the year begins we are going full force with a plan that will get our finances back in shape.
Yes, "mi chica" got caught up in the middle of the mortgage disaster and subsequently lost her job. Her too is not in a hurry to go back to work, but hopefully as soon as the year begins that will also change.
The first thing we are going to do is put our lovely house for sale. We've had the fortune of living in this beautiful new home in a great neighborhood for the past seven years. Both our daughters were in their teens then and in high school. As both of them are now married and with kids and about to start making their own way "mi chica" and I are left with this big house that we can no longer afford. Selling it is about the best thing we can do.
We then have the option of turning the money around and buying a smaller older house just for us two, or option two move in with my mom for a short period of time. We stay with her three days out of the week anyway and she lives alone so this could be a win, win situation. Paying storage for our things and paying her rent will still leave us with a healthy monthly savings.
My mom is all for it, and so are we. I think we can in turn find a smaller home that we really like and that is more affordable without being forced to make a decision on buying something we don't like or want just because we are in need.
So, the wheels are in motion, it won't be easy as we have to invest some money on the house before we can sell it but the payoff should be good enough. Yes, this is not the best time to sell but if we don't sell now it may get even worse a few months from now as the value of houses continues to drop.
I love this house and will miss it, but all good things come to an end and this will mark the end of this era in our lives. As "mi chica" and I get older we need to start making a plan that makes sense and that will work for us moving forward.
I will keep you apdated as the plan is put in motion.
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9 comments:
Joe i'd been here once before. Your blog is wonderful. You last entry mentioned the housing market crisis. My brother and I are so blessed that we own our home outright. However his home up in Vallejo was bought under the type of loan that the interest rises the further along. He's gotten notice his morgage might douple even triple soon. We may sell this house sooner than we planned. hat way he can pay off whats left on his morgage & Rob and I can buy our own home up north of Sacramento. If it works out right, we will be able to pay the full price & not need a loan. We don't want a fancy home, only one where our dogs will have room. I will pray your wife & you won't face any hard time with your home.
Wow, this is a change. This is one of the very few times you actually post "dificulties" in your Blog. Thank you for sharing it with all of us.
I know all too well how it feels to live in a house we've considered "of our dreams" but we must do what we must do.
I for one, feel happy to know that you'll be with my mom. "Win-win" you said? Well, yes, my mom will have your company. This is very fortunate for her, considering she's been alone. Now that I am too living alone, I have finally come to experience, just how my mom must feel to be on her own. Add to that the fact that she doesn't drive or speak english and must depend on her kids to assist her.
But you guys are now at a stage where "the future/retirement" is getting closer and closer and what better way to help yourselves than to share room and board with my mom.
The good thing is that you've lived with her before and know all too well what is to be expected of her and her peculiar ways.
God Bless you all on this new endevour and let me know if I can assist you guys with anything.
Besitos,
Your Lil Sister
May God bless your plans Jose and prepare for you the life He wishes you to have.
The plan sounds very solid to me, but I'm sorry you have to move from a place that holds so many wonderful memories. But hey, life changes and if you don't change with it things will get even worse.
Keep us posted...we are here if you need to talk.
Well, whatever you decide to do, I wish you the best. I know the market is taking a toll on many people and I hope it all turns out for the better senor.
Oh what a happy-sad time! Change, even though good for the soul is sometimes never embraced happily. I feel for you leaving your memeories behind, yet starting to make new ones. At least you have options for help with your mother. My mother recently passed and my father is ill, my sister and I are having a hard time figuring out how to help him. We both own our own homes and are married, so it's not likely either one of us can move in with him. My 21 year old daughter is living with him now, but she is not a good canidate being she is so young, but good right now for a temporary fix until we get things figured out. I pray good fortune comes your way as you make this new step! Maybe you can find a home close to your mother. Good luck to you both!!
I am sorry you are having a time right now, I think alot of people are going through bad times. You have a great plan though, I wish the best for you!
I bet your mom would be THRILLED to have you both there if you decide that.
Well, you have a great attitude about it!! I mean, it must be sad, but like you said, it is a new stage in your life, and one that will only help you in the long run :) Hope it sells fast for you!!
Un filósofo decia que cada segundo uno se hace y se deshace, es solo parte del "ser".
Yo los puedo adoptar en mi hotel aunque parescamos sardinas encurtidas.
Los veo mañana aunque se avienten la bronca con mami.
It sounds like you are making a unselfish sacrifice that will be good for your mom, and hopefully really good for you too. I can see many good things ahead for you Jose, but you know me I always see the silver lining. You will have yours too.
Love, hugs and prayers
Wanda
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