RV Sweet RV
Well, it’s happened again. I wasn’t blogging (regularly) when Josh and I found out in 2004 that our privately owned duplex in Arkansas was going up for sale. We were surprised, and a bit annoyed when people were shown through our home without any notice at all, when I was say, not fully clothed. A very neat 80 year-old duplex near where we worked opened up, so we left before the home sold.
A couple days ago a realtor showed up on the doorstep with a sign announcing that our landlord had decided to sell the property we live in. I wasn’t home, so the news came to me via the sign in the yard when I drove up after work. Niice. We wanted to stay here another year while we saved up money to buy a house. Now we’re faced with a few scenarios:
a) Buy a house and put a single digit (need to vomit) down. This will mean (grr) higher monthly payments, PMI, etc.*
b) Move to another rental property. We’re totally burned out on moving since we’ve done it EVERY year since we got married, and even more before that. There’s heavy furniture involved now (a certain desk that will remain nameless), not to mention the last two residences were upstairs–extremely steep, light your calves on FIRE stairs.
c) Stay where we’re at, and endure rude entrances while praying that the new buyer (1) doesn’t tear down the house and (2) wants to keep it a rental and (3) is OK with us staying.
I’m starting to think an RV isn’t such a bad idea.
*I know all about 80/15/5s and 0-money down, so spare the obvious comment. We’re still knocking out school loans and have two elderly cars to care for, so the less stretched thin we are, the better. Atleast that’s what Dave Ramsey taught me when I was in the crib.
6 Comments // Comment or Ping
susan
considerng we could very well be on the verge of a decline in housing prices, if it were me, I’d think long and hard before buying… of course, I live in dc where a 1 bedroom condo costs $330,000… so it’s easy for me to decide to continue renting.
good luck!
8:08 am, Apr 27th, 2006
Mark
Man, that stinks. I’m sorry you guys are having a rough time. I really don’t know what to suggest to you. We didn’t put much down on our house, but something ended up working out for us through Regions Mortgage. I got a loan designed for poor farmers. Since my income is so low, and they’re trying to help me develop, supposedly, I don’t have to pay mortgage insurance, even though I didn’t put 20% down or anything. Of course, I didn’t get to follow all the Dave Ramsey protocol, which I also was raised on. We had to get a 30-year loan to pull it off. Even though it’s a little pricey, buying a house has been really nice. I love not paying someone rent, even if I am paying a lot of interest. Best of luck. Keep us updated on what you decide.
8:29 am, Apr 27th, 2006
Heather
Susan, that’s also a major concern for me. Luckily Dallas has a lower cost of living than most cities, and we’re looking to buy in the cheaper suburbs. However, we did look at one house recently that was appraised by the state as 116K, but the owner was asking 169K!! They had done some bathroom remodels, but I was amazed at the difference… The last thing we want is to be on the receiving end of a market bust.
8:43 am, Apr 27th, 2006
B
Hey having worked for a real estate office now. they HAVE to give you 24 hours notice before they can come in. now that being said all they have to do is leave a message letting you know. but…. its the principal of the thing right
10:15 am, Apr 28th, 2006
lacey
Hey! We are in almost the same boat. We’re going to rent another year, it means less stress overall. We’ll have a long time to own.
12:05 pm, Apr 28th, 2006
Karise
yuck, sorry
6:37 pm, Apr 29th, 2006
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