Feedback Need on House Situation

**jIM_Ohio** · 08-30-2010, 09:15 AM

First comment, if you project moving, might as well sell current house whether you rent or buy depends

Second comment, if you plan to live somewhere for only 2 years, might as well rent then move at first opportunity.

Being debt free is less important than making good financial and life decisions, so focus on a 2 year plan and a 5 year plan, decide where you want to be in 5 years and make financial decisions with that in mind.

**snshijuptr** · 08-30-2010, 12:07 PM

If you sell your house right now, it won't effect your elder son's financial aid if he is going to attend college. In addition, if he can attend college, he might qualify for Disabled Student Aid. I have a friend with mild Aspergers who has all of his fees and supplies paid for by the state. That may or may not weigh on your decisions.

How old are you? California lets you keep your property taxes if you move after age 55.
Frequently Asked Questions - Exclusions from Reappraisal - Board of Equalization
Though, you might pay for less property taxes due to lower housing prices.

**LaVicky** · 08-30-2010, 01:24 PM

Im not worried about my son losing financial aide, regardless of where we live in town he can go there thats not the problem, leaving the state would be or living with his other parent in a different county WOULD be the problem as you have to reside in this district to attend this school. Hes been accepted into a college/high school campus new program which only accepted a limited number of kids and they had to interview to get in, hes in his third year and very happy there. He earns his AA degree by the time he graduates high school and we have no college class, books costs as its all provided. When I said special school I didnt mean that he was disabled. This is a new program for regular students who have to apply and are selected.

I just want him to be able to stay and finish out in the program.

We are young, 30 somethings

Hard to know where we will be in 5 yrs! haha the world is our oyster then as the kids are grown and the husband and I can go wherever we want. Right now the job is in another state, but we are not so sure if thats where we want to live just yet, too soon to tell. Right now we are just happy hes working, Im more concerned about the meantime and my neighborhood and how to best handle that for the kids and I.

But also rents around here would be double what Im paying in mortgage to get into a nicer part of town.

**disneysteve** · 08-30-2010, 01:54 PM

Originally posted by LaVicky View Post

rents around here would be double what Im paying in mortgage to get into a nicer part of town.

I don't think we can give any useful advice without knowing your income and expenses. Just because the rent would be double your mortgage payment doesn't really mean much. You would no longer have all of the costs associated with being a homeowner, like maintenance costs and putting up fences and such. Plus, whether or not paying twice as much is doable for you depends on how much you earn.

**frugalgirl** · 08-30-2010, 03:26 PM

Considering the horrid living situation you are in, you might consider covering the extra rent cost by using the equity you may be getting out of your home. If you owe $50,000 and think most homes in your area are selling for $100 k, then you'd have equity to use to help pay the rent for 2 years until you can move to another state and buy there or whatever you decide is beyond 2 year timeframe. Plus as others have said, you won't have maintenance, taxes, or homeowners insurance to pay. Add those costs to your mortgage payment cost and see what it is. What is the difference between that number and $1000 rent? Renting the worst apartment on the good side of town has to be worth the difference in peace of mind if nothing else. I would not buy. It doesn't make sense for your short time goals.

**cptacek** · 08-30-2010, 07:31 PM

Ive had numerous problems with one house on my left side for the past several yrs and have worked with local authorities even the state government program and investigators, a child molestor out of his jurisdiction, armed and dangerous was found next door to me, across the street this past yr a man from the group home was knocking on my door at 1am, found out a week later he tried to push his way into the womans house next door to him while drunk asking for sex, we all had to call the police. Later on another man was found to be wanted on Americas Most Wanted. Prior to that my husbands vehicle was parked on the street and hit by one of the people of this home driving backwards on something, the police were called and he took off out the back door of his home and climbed the wall.

This is horrible. You need to get you and your family out of there. I agree with frugalgirl, you can use the $50,000 to help with your rent.

How horrible would you feel if you didn't move because you didn't want to pay more with rent (not that you can't pay more, but that you don't want to) and something happened to your children?

You may have to get rid of the two dogs if you move into an apartment. Before anyone tsk tsks, think of this. How horrible would you feel if you don't move because no apartment would accept dogs and something happened to your children? Could your husband take the dogs?

**Seeker** · 08-30-2010, 08:17 PM

Originally posted by LaVicky View Post

I have to drive constantly back and forth across town due to 2 different school schedules and sports, so sometimes Im making 4 trips back and forth a day. So it would be nice to live by there schools in walking distance and the area is a nice part of town nothing like where I live, but of course homes are much higher priced. A 2 bedroom townhome is $110,000 with no yard and I have 2 large outdoor dogs.

<some snipped>

How long till we can qualify for a new home loan? To buy a home across town not a townhome wed have to pay over $200,000 to get in a decent home and thats the low end price.

I just dont know what to do, the neighborhood issue is becoming more of a problem, just last nite saw the woman next door is wearing an ankle house arrest bracelet. Im home alone most of the time without my husband.

Agree with the others; get out of there.

You have a 14 YO and a 16 YO, both of the same gender? If yes, then rent one of those two-bedroom townhomes nearer the schools and nicer parts of town for now. Save everything you can for whatever in the future looks like will be attainable given that you are sort of self-imposed separated with your current husband (so that he can earn a living for you all).

Without budgeting estimates, we cannot get any closer to advising you. If your husband is making double what he used to, estimate your and the kids expenses after his income minus his expenses living out of state.

You named two prices for townhouses in the nicer part of town. But renting is probably closer to what you should do, given that the eldest will be finished with HS and AA degree in 2 years. Depending on what the younger will qualify for and desire to do, it may be better out of state for all of you at that time.

**LaVicky** · 08-31-2010, 11:39 AM

Thanks

Thank you all for the feedback so far... had a thing come out of left field as of yest. Will post if something comes of it, a possible home in the area I desire to be in, walking distance to both schools.... say prayers... will post more feedback on our situation and finances later when I have more free time to dig it all out.

Thanks again! And just not realizing how important our safety is and trying to hang in there all this time, its just getting progressively worse in the past 5 yrs and with the government houses around me, they are not going to be homeowners around me who take pride in ownership, Ive watched this for the past 5 yrs and Ive not had one good Section 8 renter so far as a neighbor.

Feedback Need on House Situation