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Decision made..sort of

August 14th, 2009 at 02:38 pm

Well...just by chance I found a house for sale yesterday. It needs some cosmetic stuff done, but it would be perfect for my situation. It is 90% owner financing with at 10% down payment. I would put my current house on the market and rent it until it sells. I don't have the 10% down and was considering borrowing it from someone. BUT WAIT!!! I thought this through and have decided not to do it.

Finally...I am making smarter decisions...as hard as it is. I am the type of person that pushes for what she wants and makes it happen and sometimes regrets it later! But I talked to my sister and she basically confirmed my fears of relying on other peopr(renters) to make the current payment. I just don't want the stress of that and I am not in a position to cover it during an eviction. So here is what I am leaning toward doing....

Putting my current house on the market. I am not looking to make a huge profit, but would like to pay it off and have a decent down payment on another house. I think that if we price it lower than others in the area, it might sell relatively quickly and won't have to worry about the condition of the house too much.

I will be saving for a down payment on a house and still improving my credit score in the meantime.

If my house sells, I will move into an apartment until I can get a house.

This is my plan so far. It seems like it is a smart plan. Maybe another house will come available when I am able to purchase without those fears and maybe this house will still be there. But I am trying very hard to not make a stupid mistake again just because I want something so badly!

Posted in Misc Thoughts and Updates | 5 Comments »

5 Responses to “Decision made..sort of”

  1. anonymous Says:
    August 14th, 2009 at 03:28 pm 1250263713
    1250263713

    Are you wanting to downsize?

  2. North Georgia Gal Says:
    August 14th, 2009 at 04:55 pm 1250268905
    1250268905

    no...wanting a real house instead of a mobile home! LOL and I want to be closer to town. We are 10 miles outside of town now.

  3. baselle Says:
    August 14th, 2009 at 08:37 pm 1250282221
    1250282221

    In this real estate market, I'm not quite sure whether you'll be able to make enough from the proceeds to pay it off.

  4. North Georgia Gal Says:
    August 14th, 2009 at 11:11 pm 1250291491
    1250291491

    The land itself is worth what I owe. So I am sure that I can get enough to pay it off...but maybe not enough to put down somewhere else. Will just have to wait to see. At least I have made some decisions and have options. I don't have to do anything...I guess that is the best time to do something.

  5. LuxLiving Says:
    August 16th, 2009 at 02:17 am 1250389037
    1250389037

    Sounds like a wise decision. Slow and steady wins the race. May not get the scenic route, but winner none the less. It feels a lot better on the other side of deep debt I can promise. I think in the long run you'll be happier without the stress of forcing it to happen.

    I can say this because I'm a 'can-do' kinda gal myself. I MAKE things happen. Some times those things turned out to my own detriment through the years. No need to butt-bite yourself, eh?

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