I mentioned in a previous post that we were packing our things in moving boxes- so this is a little explanation of why and what our future holds. My husband and I bought our townhouse just over six years ago during our first year of marriage and just after we found out we were expecting Dominic. It seemed ok for us at the time. It has three bedrooms and we figured we'd live in it for a few years, sell it, and buy something bigger as our family grew. Unfortunately as the housing market crashed, a "few" years max turned into a much longer stay in a home we quickly outgrew. In addition to being a family of five, now Dominic is getting ready to start kindergarten in public school. The elementary school we are currently zoned for is not so great. So we started to evaluate our options..
After speaking with a trusted Realtor, we don't feel this is the right time to sell. There is a good chance we wouldn't even be able to sell it for what we owe. We started going over comparable rental units in the area and realized that putting our house up for rent could actually generate some income as opposed to being a drain. But where would we go? With the positive news about the rental came the bad news that it would be difficult for us (on one income) to obtain an additional mortgage without someone already leasing our first home. After talking it out with our families we decided to move all five of us into my in-laws home.
Our plan is to move out of our townhouse, fix minor details, apply fresh paint, and list it for rent. Once we have renters in we will begin looking for our next home. During the "in between" we'll hopefully be able to save a little for closing costs and things that may need to be done initially to the new house to make it ours. Not going to lie, this whole situation gives me anxiety. And I'm already anxiety girl. I am anxious about being financially responsible for two homes on one income. I'm anxious about finding a decent renter that won't destroy our house.
But more than any of that, I'm anxious and torn about leaving our first home. This is where we built our family. Three times I left this house big and round, returning with a tiny pink baby to be carried through the door. This is the only home my children have known and we've made so many memories here. Though it's too small for us now and not in a great location, there are great things about it. Besides the emotional attachment, we've redone pretty much every square inch of it in the six years we've lived here. Every floor is new, both bathrooms and the kitchen have all been gutted and remodeled.
And there's this...
Right behind our house is a large pond that's home to a flock of ducks and geese. We've had countless walks around this lake, always with bread or crackers in hand. Our favorite duck even lived in our front yard for a few weeks last summer when he was recovering from an injury.
We also live across the street from our neighborhood pool! So nice in the summer. Luckily there is a neighborhood pool just a short walk from my in-laws house too, so for now we still have that.
The elementary school Dominic will be attending is a bit better too. That gives me some relief and peace in all of this. Though it will be a bit hectic and odd to not have our "own" space for a little while, I know we will be better off in the long run. Send happy thoughts as we prepare to hand our home over to strangers (eek!) and while we look for a bigger and better place for us.