Well, I think it is pretty official-we are going to be downsizing. You may be asking why? There are many factors that have brought us to this point...I'm no longer working, It just makes sense, Why not?, It will be an adventure, Other friends have done it and it worked well for them (Thanks, MV and Renee!), It's a good investment, we still own another home, and on and on.
Now, when I mean downsizing, I mean REALLY downsizing. We are pretty much going to hold an estate sale and sell everything we own-except for the bare essentials and sentimental must haves, but furniture that doesn't fit into a place that is probably going to be just under 1000 sq. ft. has to go! All of the clothes I've stored up in storage for our next kids, any extra toys, Tv's, beds, yep, all of it. Fortunately, I have a good year to enjoy the stuff before it's time to say goodbye to it all. :)
If things go according to plan, we hope to buy a house and pay it off in about five years. Yes, that's right, five years. Many things have to fall into place before we ultimately commit to the decision-mainly finding the right place in the right location, but crazy as it sounds we are excited about this new perspective. The house we would buy would be in a range from 40,000 to 75000 dollars. Obviously, our mortgage payment would be low, and the plan is to use the other money to do things to fix up the house. Small things like replace carpet, paint, put up a fence, landscape-things we can do ourselves. Then in five years, or in two and a half if we just can't take it anymore, we SHOULD be able to sell it and have a great 20 percent down payment for a more "typical" home.
We don't like living paycheck to paycheck more than anyone else does, so we have decided to do something drastic about it. It may seem counter intuitive, but I will actually probably be spending MORE money with this plan because it will free it up to spend. Not that we won't have a budget, but I am so excited to think about being able to afford curtains, decor, plants for landscaping, enrolling Celeste in dance classes, and etc. All things that are out of the question right now at least without serious saving.
I certainly want to hear from all of you about our plan. I will listen to all words of wisdom, words of woe (make sure it's a safe location, has a good foundation, doesn't contain asbestos, etc), disdain, surprise, or whatever. We would love to hear how crazy you think we are or aren't!
Now, when I mean downsizing, I mean REALLY downsizing. We are pretty much going to hold an estate sale and sell everything we own-except for the bare essentials and sentimental must haves, but furniture that doesn't fit into a place that is probably going to be just under 1000 sq. ft. has to go! All of the clothes I've stored up in storage for our next kids, any extra toys, Tv's, beds, yep, all of it. Fortunately, I have a good year to enjoy the stuff before it's time to say goodbye to it all. :)
If things go according to plan, we hope to buy a house and pay it off in about five years. Yes, that's right, five years. Many things have to fall into place before we ultimately commit to the decision-mainly finding the right place in the right location, but crazy as it sounds we are excited about this new perspective. The house we would buy would be in a range from 40,000 to 75000 dollars. Obviously, our mortgage payment would be low, and the plan is to use the other money to do things to fix up the house. Small things like replace carpet, paint, put up a fence, landscape-things we can do ourselves. Then in five years, or in two and a half if we just can't take it anymore, we SHOULD be able to sell it and have a great 20 percent down payment for a more "typical" home.
We don't like living paycheck to paycheck more than anyone else does, so we have decided to do something drastic about it. It may seem counter intuitive, but I will actually probably be spending MORE money with this plan because it will free it up to spend. Not that we won't have a budget, but I am so excited to think about being able to afford curtains, decor, plants for landscaping, enrolling Celeste in dance classes, and etc. All things that are out of the question right now at least without serious saving.
I certainly want to hear from all of you about our plan. I will listen to all words of wisdom, words of woe (make sure it's a safe location, has a good foundation, doesn't contain asbestos, etc), disdain, surprise, or whatever. We would love to hear how crazy you think we are or aren't!
You know how radical Dad and I were about not having any debt. Go for it. Financial freedom is a great feeling. The right color of paint, wood or laminate floors and correctly placed decor go a long way in making any house look cute and "homey"...You can make a small place first class.
ReplyDeleteMy only advice is LOCATION LOCATION LOCATION
Dad says our Mi Po house was 1200 sq foot with 4 of us, and he added on to make it 1500 sq ft. when there were 6 of us. We made it, but for a while we definatly had a FULL house.
ReplyDeleteDad says he wants the first chance at getting the little youth bed back. Its yours.....to do with as you please.. but he will get it from you if you are going to get sell it at an estate sale.
Love to you. Mom
What?? Ridiculous. There will be NO SELLING of the toddler bed! :) Nothing that is made by family will go...it's all too precious! My day bed isn't going either, nor the hope chest, or probably that other hope chest. I may have to convert our old kids toy box into something else though...I'm still thinking on that one!
ReplyDeleteThe only part of the house as far as I remember that could get to feeling crowded was the bathroom, but otherwise I think we had plenty of room. Course, I was the lucky one being the only girl! It was nice having my own room. :)
Yay for downsizing! I love my 960 sq. ft. home that cost us $56,000! Sometimes I wish we'd bought a 3 bedroom but right now all we need is 2 bedrooms. It's the cutest home and has a huge backyard to play in. It's not the best neighborhood but I have great neighbors. We plan to homeschool so we had the luxury of not having to pay high housing prices so we could send our kids to a "good school". I don't have to work and can spend time raising my girl. Plus, with the money saved, we've been able to travel to Cali several times a year. My advice to you is take your time in searching.
ReplyDelete