Friday, August 23, 2013

Step 2-Apartment

On Monday I signed papers for an offer (a good offer) to short sell my place. Looks like an investment company who is ready to pay cash wants to buy it and turn it into a rental property. I guess if I were smart I’d turn it into a rental myself but I don’t feel that I’m in a strong enough position to do so. My employment has been spotty at best and I’m saving as much money as I can to pay my Realtor, school, books for school, and any future rent/bills that I may have IF I find myself unemployed again. If the place didn't rent for a month or so I couldn't afford to pay it AND my credit would start to suffer  because I was late paying on the mortgage.  If the economy stays were it is, I can see myself doing this in a few years, just not now. I digress, I was a bit upset about it turning into a rental property but after all it’s just a house and I am moving on right?
Colin and I narrowed down the cities we want to live in and it seemed to make sense money-wise and lifestyle- wise to live in Woodbury not far from his kids. Living closer to them allows them to stay with us more, saves Colin gas money, time and wear and tear on his car. This place also has an indoor/outdoor pool, playground and party room so the kids have more play options when they come over. It’s just a few miles further from Newport and right off 494, it’s just a town over so not too far.

The apartment we have in mind is about 1,000 sq ft and is less than $1,000/mo, so it’s super cheap considering its Woodbury. We plan to live there for a couple of years, long enough to fix our credit, for me to graduate and find another/better job. So it’s a process, but I don’t want to have to worry about being able to pay rent if I find myself unemployed. We are still in process of being approved and all that so I don’t want to get ahead of myself. The next step is trying to find a job that will last until I graduate or will hire me on in-house. I need to concentrate on my grad studies and am finding it hard to focus when I have to worry about finding a job.
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