3.04.2013

Making Moves

So, it looks like we might be moving this summer!

The key word here is "might." As in, if all the pieces fall into place and we're able to make it work, we'll be in a new home by August. If not, we'll stay here in this home that we love so much. We've decided to look at it as a win/win either way.

Let me explain how all of this came about. It's been a bit of a whirlwind...
(Get ready for a lot of words and not many pictures.)

For the last couple of months, the husband and I have been tossing around the idea of buying a bigger house this summer. We all know that interest rates are historically low, and now is a good time to buy. But we were nervous about a couple of things. We want to start a family in the next couple of years, and we can't really grasp how expensive that might be. That unknown dollar amount is a bit terrifying for planner personalities like ours! Scott's job as a teacher and a coach is relatively stable, but there is always the possibility that he would get an amazing job offer with another team that would force us to move. Should we buy another home when there is always the possibility we could leave? Why isn't life more predictable, God? I would like to see my 10-year plan, please!

Last week we decided to invite a husband/wife realtor team over to tour our house and tell us what our home would sell for right now. We were also interested in the potential rental income if we kept this home as a rental property. It all went really well and we were happy with what they would try to sell our house for, but we really felt the best option for us was to keep the home as an income property and let it be a long term investment.

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Our neighborhood is a coveted area because these homes are really the only affordable, entry-point homes in our affluent suburb. Many families want to live here because of its great location within the Dallas/Fort Worth metroplex and the excellent school system, but the prices for real estate are pretty high. Renting is a great option, and we feel confident that we can find a great family to rent our home.

Once we decided to keep our home as an income property, we started talking with the realtors about what we wanted in our next home. We are looking for a fixer upper with 2,200+ square feet (our current home is 1,650) in an established neighborhood. That last part is critical to us because we love big trees and bigger lots, and many homes within this community are shiny and new. First off, we can't afford shiny and new. Secondly, we really prefer a bigger lot and the "character" that comes with older homes.

No problem, right? Well, this is not an easy market to find a deal. Like I said, people want to live in this community. The normal amount of houses on the market in our suburb is 150, but right now there are only about 50 on the market. That's not a lot to choose from, especially when you're on the lower end of the budget scale like we are! The only thing we have going for us is that most people who live here aren't interested in doing renovations, so the fixer uppers don't sell nearly as fast.

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Anyway, we asked the realtors to take us to the three homes on the market this weekend that met our qualifications. Two of them basically made us want to run right back out the door screaming. They were BAD, a water-damage-everywhere, ceilings-might-fall-down and flooring-torn-to-pieces kind of bad. We love a good project, but we do want to live there while we improve it. Those two houses were unlivable. The crazy part is, both of them were slightly above our budget! Eesh.

Meanwhile, the other house was pretty much awesome. Yep, I said awesome. Other people might not think so because it does need a lot of work, but we can see that the potential is enormous.

We made an offer! I can't even believe it. Just last week we were casually tossing around the idea of moving, and now we're in the middle of a negotiation process! It's a bit crazy...

We also found a potential tenant for this home. Of course, that is contingent upon us finding somewhere else to live. Still, it was nice to have an option so quickly. Perhaps all the pieces are falling into place?

I will keep you posted on the home negotiations. We came in fairly low, and they were less than generous with their counter offer. We've countered again, and we're waiting to hear something else. I hope we get the home, but I also know that God has a plan in all of this. We missed out on several homes before we bought this one, and it ended up being the best home for us. He has a way of working things out that way. If this one doesn't work out, hopefully another one will. If not, we'll continue to stay here in this home we have loved so much for three years.


Thanks for listening to my super long post with very few pictures. Hopefully we'll have a new house soon full of new projects for this humble blog. I hope you'll keep following along as we tackle another one!

* Counting our blessings, waiting for the phone to ring*

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2 comments:

  1. So exciting!! Love what you've done with your home, and excited to see what you'll do with your next. :)

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  2. This is great, more projects for your readers to learn from! : )

    Congrats and I hope it all works out for you and your husband.

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