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Have I gone completely crazy...

Discussion in 'The Lounge' started by cbbr, Sep 19, 2005.

  1. cbbr

    cbbr 1 ton status GMOTM Winner

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    The population of Baton Rouge doubled overnight after Katrina. Lots of professionals with money have decided to stay. Because of that, the real estate market went crazy, but it is widely expected to be short lived.

    So I'm having a beer with a good friend who owns a real estate agency and who knows that my wife and I like our neighborhood, but hate our house. we have been looking at houses for a while, but like many have other bills (student loan, cars, credit cards, etc.)It is just too small for us with 3 kids and two labs. plus it has no shop and my wife hates the huge mess in the carport where I keep all of my tools and truck stuff.

    When we moved to BR we were paying for two houses in Alex. (ours plus a rent house) and bought what we could afford, but not what we really wanted. We also lived on credit cards for a few months because of all of the mortgage payments.

    He threw out a number that he thought we could get for the house. It was high enough to pay off everything - house, cars, loan, credit cards, etc. and leave us basically debt free.

    I mention this to my wife and in-laws. My in-laws have a two story house with of room for all of us. They already have bedrooms for the kids, l;ove the dogs and suggest that we sell the house and move in with them for a while until we can find the perfect house.

    So I listed the house. we got a full price offer in 19 hours. :eek: I never really expected it that fast. i spent the weekend moving stuff and we close on Oct. 6. Looks like all is on track and we will be living with my in-laws for a few months, putting my entire salary in the bank and living on my wifes salary. We are covering 1/2 of my inlaws bills which is nothing.

    We will be completely debt free and will have a nice (20% or more hopefully) down payment for the next place and the market is already cooling so all is going according to plan, but I am really beginning to question my sanity. :doah:
     
  2. Z3PR

    Z3PR Banned

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    Are the In-Laws cool ??
     
  3. dontoe

    dontoe 3/4 ton status GMOTM Winner

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    You're friggin' insane!!!


    What have you done!!!
    :eek1: :eek1: :eek1:



























    Heck, man. Sounds like a smart, brave move to me. Gonna be really happy when ya sit down in your new house you "sacrificed" a couple of months for!!!:waytogo:
     
  4. cbbr

    cbbr 1 ton status GMOTM Winner

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    Yep. It will be a little tight but they are great. My wife and I will be upstairs and have out own bathroom so we will have a little space. the kids love staying there so they are happy.
     
  5. cbbr

    cbbr 1 ton status GMOTM Winner

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    That's how we saw it. It will be great to have a bigger house, a shop and no debt except for the house.
     
  6. newyorkin

    newyorkin 1 ton status

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    Wow, nice going!! :waytogo:
     
  7. diesel4me

    diesel4me 1 ton status Premium Member

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    thats cool...

    I guess out of every tradgety,some GOOD things occour!..maybe you are smart to get out while the gettin is good!..many folks in my area have taken advantage of our real estate boom--many houses here people bought 20-30 years ago for 30 grand or so,with 2-5 acres of land,are now worth half a million easy..they sell and move to warmer climates,and buy a nicer house with equal or more land for a lot less money--much like I said in the "what if you had 500,000 dollars" post yesterday..

    Since development and Wal-Mart have spoiled this once rural area,most folks dont miss this place much when they leave--its not the small quaint town it once was--drugs and overpopulation and traffic have overtaken us here..

    I know one guy up the street who sold his home for 410,000 dollars,its a small house on 1.3 acres!--he moved to TN,found a mansion that looks like the one in "Gone From The Wind",that was abandoned for several years,with 11 acres of land,a pond and brook on the property,and a fairly decent pole barn big enough for 10+ cars(used to be a horse stable/boarding ranch)...got it for 210,000 dollars!...

    He's not planning on working ever again--he's in his mid 50's,and retired early from the police department and gets a healthy pension!..he said land taxes are less than 1000 bucks too,--they were nearly 4 grand here!...guess he made a good move!--he wont have to shovel snow or watch his car rot out from salt in 2 years anymore either--he sold his plow truck at a handsome profit before he left too..I wish I had the same oppertunity.. :doah: :crazy:
     
  8. sled_dog

    sled_dog 1 ton status

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    sounds like you made the right move in my book
     
  9. txfiremank5

    txfiremank5 1/2 ton status

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    Ditto

    Things usually have a way of working out. Sometimes you think about something, and just seem to pass on it for some reason or another. Then other times, for what seems like no real reason, you think on it again and again .. and give it a try, thinking it *might* work and it always seems that you end up thinking, "man, I should have done this years ago".

    When my wife and I first got married we had such a small income we could hardly pay attention. But when we needed something, with careful thought, we could always manage it.

    Hope you find a place you and the family will be really happy in. :thumb:
     

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