Personal Journal: the strategic default of the house we purchased in 2006

Thursday, February 3, 2011

Renting Real Estate

Making a house a home celebrating Christmas.
Real estate prices continue to drop in our area, as our savings continues to rise.  It turns out, not paying for an expensive house means you can save a bit more than before.  We have been able to save enough for a down on another house (yes that is how high our mortgage was), if we were to be so brave and a bank would loan us the rest (which they wont).  We are hesitant about any change.  Renting feels just right, until the landlord calls.
Celebrating the birth of my niece.
She asked if we were hoping to rent beyond the year that we had leased the house.  It is fine with us to rent this house beyond our lease, it is a comfy place.  As with most things, her question was about something more.  She wanted us to know that they are tired of paying a high mortgage for the house we live in, and the house where they live.  They are hoping to not have both houses.  This means we have a few options, mainly that we will have to move, unless we can figure out how to buy this house.   We moved here thinking only to stay 12 months.  I have been thinking of it as an amazingly comfortable and big hotel room.
Depending on what happens, we will have to move in the summer or we will have to think about buying this house (for the perfect price, of course).
No matter what, I'm going through my kid's closets to get out the small clothes, and de-cluttering.
I'm going to continue blogging, as clearly the story isn't over.  My thinking that the story is over is not accepting how much where we live affects our life.