Sunday, June 05, 2005

Dear Noah:

Well Noah today we are going to look at new homes after church. We have not done it for some time and we decided to get serious about it again. I mean we need to seriously think about selling this condo so we can get a little bit bigger home and an actual HOUSE and not a condo or townhome. It is time. It is past time. We have no space for a classroom for you or a craft room or even a room to combine those 2 things. Everything is piled on top of each other it feels like. We have no garage here. While we like living here it is also older...and time will eventually mean requiring more things to be fixed. Today we found a leak in a hose (thank goodness only the hose) under the one bathroom sink. THANK goodness we had tons of toilet paper under the sink to absorb the water. A hose can be easily replaced but while we are at it we may replace the faucets and get someone to come out and give us an estimate on replacing the floor. We can paint any rooms needing it. BUT some things we will have to hire out. The bathroom has old lineoleum on it now that you cannot pull up so we will hire someone to come out and put new flooring over it I guess. Is not a big space so it should not cost too much.

I am hopeful if we paint a few things and replace a few more things and get all the clutter out of here like the Designed to Sell people say to do....we can sell this place pretty easily. So far however things listed around here don't seem to be selling all that fast. I really don't want to rent it out...but maybe it will come down to that. Others have said it is a wise investment to KEEP the property and rent it out. IF we did that it would make some things a bit easier now...providing we got a rental company to handle everything as they can screen people really well and we would get some good tenants in here! We could refinance to an interest only loan and charge enough rent to easily make that payment and then give us the ability to DOUBLE our payments and pay down the loan faster! Meanwhile this would build up equity in our home super fast and in a few years if the market is better we could sell it or keep it as investment property I guess if that seems a better fit for us in our life. SO I guess that is possible. In order to get a new home now though I think we have to have this place rented or at least a lease signed for like 1 year. The two rentals below us finally rented out. Pretty fast too. SO it is possible I guess.

Well..I need to get ready for church and you ready and then off to house hunt.



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