2007-03-17 00:19:50 · 10 answers · asked by savannah2000 1 in Home & Garden ➔ Maintenance & Repairs
Have spent money to fix up and repair home because of the many problems this home came with... we didnt know about some of the problems, such as drainage problems such as when it rains water goes into garage.. added more windows to allow more light into home to make it brighter, added screened in porch to use during warm months. Found rotten window that was painted shut by previous owners and no heat ducts were added to room over garage by previous owners so that will have to be remedied... so the budget has increased due to repairs and additional problems that need to be remedied..We have cut back on food, on eating out (there is none of that) entertainment, etc. We both work at good paying jobs. We have daycare costs with our 2 1/2 yr. old son... Just don't know if we should tough out the length of time (five years) the equity loan will take to pay off these repairs etc. or just sell, but then we would have to do some repair work and get place ready to sell... depressing
2007-03-17 01:28:22 · update #1
Don't jump into a decision based solely on anything any of us say on here. I agree, seeing a financial adviser might be a good idea. Or at least at thorough review of your budget.
5 Years isn't long on a home equity loan. It sounds like you've already put some considerable work into the home. Is what still needs to be done really necessary? Or can it wait a few years?
What is the real estate market like in your area? Are homes selling? and for how much? In my area, there are way more homes or sale than potential buyers. Prices are dropping like rocks. You could lose money by selling.
Be patient. Talk about the situation and the stress with your husband. And make a decision based on good information.
Good Luck
2007-03-17 02:20:39 · answer #1 · answered by bugs280 5 · 0⤊ 0⤋
Unfortunately all houses have problems usually that you do not know about until you live in them. You have certainly done a lot to your house to make it nicer to live in however this has come at a cost. 5 years is not that long to pay off your debt and meanwhile you can enjoy the comforts you have created. Working and family life is hectic enough without contemplating moving. Talk it through with your better half maybe you can put in a bit of overtime or do extra work to make things easier. Talk about your options.There are always choices but you both need to participate and pull together to make things easier. Don't be discouraged so good luck and cheer up....
2007-03-17 02:06:20 · answer #2 · answered by njss 6 · 1⤊ 0⤋
would be best to get an appraisal and see where you are at first of all,I'm a big stay at home mommy advocate,so see if selling would allow for that if you bought a home within your husbands income only ,set Back take some classes at home for a bit maybe do some nice work on the new house to make it more desirable then when the baby gets a little older go back to work,sell that house and then move up to something better its only a few years and i don't think you will regret it.good luck
2007-03-17 03:07:02 · answer #3 · answered by raindovewmn41 6 · 0⤊ 0⤋
There are free financial or debt counselors in most big cities. Look them up in your phone book. They will have an appointment with you and go through all of your expenses and your budget. They are financial experts who can recommend your best course of action.
Don't think that moving will automatically solve your problems. There are serious costs involved with selling a house and the move itself. Work with a professional to make up a complete budget so that you don't find yourself even further in the hole.
2007-03-17 00:23:23 · answer #4 · answered by charmedchiclet 5 · 1⤊ 0⤋
first get rid of the dogs.. 4 of them.. if your strapped for cash its called cut back you noob. get rid of the things you dont need. your hubby and kid come first. not the FOUR DOGS. stop the cable. no more eating out. refinance. give up a car. Give up the DOGS. sell something. GET A JOB . work more. dont sell the house unless you absolutely have to. it sounds easier but yo u have to live somewere and if you rent you loose out on all the tax deductions too. OH PS>> and if your gambling admit to yoruself you have a problem and get help. find out were your cash is going , budget.. you bought the house once and had money.. why dont you now.
2007-03-17 00:27:38 · answer #5 · answered by Dr. Marthamus, AeT 2 · 2⤊ 0⤋
more light in the house and a screen porch well in my part of the woods isn't necessary in survival!!!Please you dont even have to eat out, Alot of people including myself do without all these things just to get by(and yes I have a well paying job) So its not going to kill you to sell the dogs and do other things to save money.
2007-03-17 01:33:49 · answer #6 · answered by charityislove 3 · 1⤊ 0⤋
I would put the place up for sale before you let it get repossed. You know your financial situation better than anyone on this site. Use your own common sense. Either increase income or reduce expenses. Econ 101
2007-03-17 00:26:54 · answer #7 · answered by Fordman 7 · 1⤊ 0⤋
Not to be against animals or anything, but keep track of how much money you spend on your dogs every month. You'll probably crap yourself when you find out. It's like having a couple more kids.
2007-03-17 03:08:55 · answer #8 · answered by Obsean 5 · 0⤊ 0⤋
Tie ropes to the dogs collars and offer a carpool sled to school program.
2007-03-17 00:22:21 · answer #9 · answered by joey k 3 · 0⤊ 2⤋
yes
2007-03-17 00:22:29 · answer #10 · answered by Anonymous · 0⤊ 0⤋