My wife told me yesterday that she wanted a house. After being married for a day over a month, she is ready to move. After living together for five years in our condo with our two daughters, she wants out.
Can I blame her? Well, we have a two bedroom, one bathroom condo which is definitely feeling a bit crowded, especially with our daughters growing up. We are making mortgage payments, association fees, real estate taxes for a place that is worth half of what we bought it for. In addition to that, our oldest daughter will be five next year. She is getting closer to her 1st day of 1st grade and she needs to be in a better school district than we are at right now. Our neighborhood seems like it may be getting worse and worse with people moving in that just don’t seem as friendly.
So here is my problem. I obviously want to move, but I wasn’t ready for her to be so antsy like this so soon. She sprang on me, when I least expected it, and automatically began sending me pictures of houses and neighborhoods she is interested in. After having the stress of planning a wedding behind me, and putting this bachelor party behind me, I felt semi stress free Monday morning until I began receiving text messages. We got into a text message war about getting a new place. I just began my first week of quarter close for my company and now in the back of my head, I have the added stress of needing to buy a house. In addition to all of this, I need to start cutting an additional couple of hundred dollar check for a business I tried starting up that just hasn’t worked out (which I can write about in another post).
So why can’t I buy a house or why can’t we move? I purchased our condo five years ago for about 135k. There are now multiple units being sold as short sales between 45k and 55k. Our mortgage is completely upside down and we can’t sell the place. An option we may have is to rent our place and purchase a second home to use as our principal residence, great plan, right? Well unfortunately, I would need 20% of a down payment to be able to afford a place. Since the 1st place is an FHA loan, I can’t have a second home be the same.
So where do I find additional money? I am already working 60 hours a week at my current job. Mrs. Z works part time because she needs to watch the kiddos. Perhaps I can get a second job, a night job and try to save up. Who knows, all I know is this is one of those couple of days where… just when you thought you were out of the tunnel, it seems I’m pulling right back into another one.
Perhaps I’ll buy a lottery ticket…. all I need is about 100k to be able to figure myself out of the mess I’m in right now. Maybe my big break is coming soon… What I do know, is no matter what, I will do whatever it takes to make sure my kiddos are going to a good school and my wife is happy. Till Blog Do Us Part.
- What’s Better A Conventional or FHA Loan? (debtconsolidationusa.com)
- New home and condo sales both slumped in August (thestar.com)
- How To Get Out From Underwater With A Short Sale (debtconsolidationusa.com)
- New home and condo sales both slumped in August (metronews.ca)
- The Pros and Cons of Short Sales (scotthyderlaw.com)
- 5 Reasons to Buy a Condo (dennisdegrave.com)