Sunday, July 20, 2008

Two homes

So we are now the proud owners of 2 homes... ack!
Or more precisely we are the proud lendees (is that a word?) of two mortgages.

So I am panicking a bit about what to do about the old house while panicking a bit more about the big move to the new house and how much work is involved given I have 4 kids, a job, a husband with a full time job, and not enough free time to do all the little things I want to do (like paint bedrooms!)

But currently I am at my oasis called work so I can clear my head and just be a bit... (BTW work is not always like this - last weekend was mad crazy, but it is still nice to be with friends/co-workers and be away from fussing kids, messy houses and a darling baby who doesn't let me get a darn thing done these days).

So we have had two showings on the house in about a month. No real interest from either. I have not yet listed it as a possible rental because I am trying to wrap my head around what becoming a landlord actually entails and I don't want to take the idea too lightly. On the one hand, it makes sense in this market to just rent it out and wait for the housing stuff to adjust a bit and then try to sell. But apparently, I have to sell it within 3 years to avoid paying capital gains taxes on the proceeds from the house -- so a clock is started once we move out and I just have no idea when the market will really recover from all this.

There is also the very real worry of having renters who either don't pay on time, trash the house, or cause other legal problems for us. And of course, we have to make time to be available for maintenance problems/house calls /etc. like good landlords.

So there is lots to think about. We are also in the midst of shopping for things for the new house which is stressful when I am not sure how much money we will need to set aside for upcoming double mortgages. We need a new refrigerator for the new house (our current one won't fit in the spot even if we wanted to move it with us -- which we don't because it really won't match!) and we sort of need something to put the TV on as it sits in a built in space in our current house and there is no such space at the new house. Beyond that -- I would LIKE to have a new couch, new bedroom furniture, new bookshelves for the family room... but I need to pace myself.

Anyway, hopefully in a post in the near future, I will have a plan!

Oh and today is our 11th wedding anniversary... which makes 13 years together - wow! Sometimes it feels like no time at all and sometimes it feels like I can't remember what life was even like before Joe. We bought a new mattress Friday, to be delivered today (one of those "I want" items I could have waited on) so I am going to call that an anniversary present to us both. Can't wait to try it out but it is going to the new house that we aren't yet moved into and I have no King size bedding yet either.