deantrip
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Post by deantrip on May 10, 2012 13:46:04 GMT -5
Just got done talking with my dad a little bit ago, he told me that one of the companies up in his neck of the woods is desperate for decent help at the moment, moving and taking a job up there would be an increase in pay and benefits as well as moving to a lower cost of living area. We would be moving closer to my entire family (a huge plus). I could also probably help my dad out with some of the farm work and my brother with some of his construction work for extra cash if needed. However we would need to sell our current house, might break even on it, after commission to the RE agent would probably owe a few thousand, and the area we would move to wouldn't have a great job market for my wife, not necessarily a bad thing if I could pull in enough as she wants to have kids soon. Damn my folks like to complicate my life as it is very tempting.
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swamp
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Post by swamp on May 10, 2012 13:53:38 GMT -5
why is this frustrating? it's a wonderful opportunity.
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deantrip
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Post by deantrip on May 10, 2012 13:59:12 GMT -5
The area is a small farming community, the place that needs help is a farm equipment dealer/supplier, owned and ran by one of my folk's neighbors who I have known my entire life. My wife is artistic, currently does custom picture framing, but no shops like that where we would be moving to, and she doesn't want to run her own shop, she also does some graphic arts and photography, so she may be able to do that.
She would love to be a SAHM, she could also look into doing some daycare possibilities as I have siblings in the area looking and not finding daycare options.
She loves the area that I grew up in, less than an hour from the mountains and being outside, gets along very well with my entire family!
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deantrip
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Post by deantrip on May 10, 2012 14:00:23 GMT -5
why is this frustrating? it's a wonderful opportunity. We are right now just getting back to the point where we are getting ahead on bills and have no money to move/ pay rent and house payments as the house would be needing to sell, the money up front part is the frustrating! |
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swamp
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Post by swamp on May 10, 2012 14:01:29 GMT -5
why is this frustrating? it's a wonderful opportunity. We are right now just getting back to the point where we are getting ahead on bills and have no money to move/ pay rent and house payments as the house would be needing to sell, the money up front part is the frustrating! If your parents want you there bad enough, can they help? |
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happyhoix
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Post by happyhoix on May 10, 2012 14:07:19 GMT -5
What is your plan if your house doesn't sell quickly? Can you live with relatives rent free for a while or would you have to pay both rent and a mortgage for as long as it takes to sell your house?
Other than that potential problem, I don't see any issues here. I would apply for and land the job first, though - wouldn't want to move back home and then have that job not come through.
DH and I did something similar right before I got pregnant (when dinosaurs roamed the earth) and both quit our jobs and moved back near his family, it was a real advantage when we did have a baby to have family that close. Yes it was a temporary hassle to sell the house, for us both to find jobs, etc, but in the end well worth it.
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deantrip
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Post by deantrip on May 10, 2012 14:08:36 GMT -5
We could look into renting, but would probably break even at the most right now, mortgage is about 1200 a month and the going rate for rentals of our size is 1000-1500/mo, so might break even might not, plus we would need to refi, current mortage and loan documents forbid renting through first time homebuyer programs, but refi to a lower rate and renting is a distinct possibility. I don't know if I want to be a absentee landlord though. My folks might not be able to help me out with money for the move, but would let me stay on the farm rent free for a time as we get things moved and sold, so a distinct possibility there as well. I have no idea if my wife would want to uproot right now though, she really loves her job.
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deantrip
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Post by deantrip on May 10, 2012 14:11:20 GMT -5
I am not sure the exact details on the job, it would be probably and increase of 4-8k more than what I make now for base wage, with lots of opportunity for OT plus medical/dental/vision benefits which we currently don't have through either employer.
Most likely what would happen is my wife would stay in our current home until it sold and keeps working here, that way we wouldn't be dealing with a loss of income, it would split us up by 300 miles for a while though, and I wouldn't be happy with that situation at all.
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deantrip
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Post by deantrip on May 10, 2012 23:15:45 GMT -5
Well some good news, I talked with the owner of the company that is needing help and have a tentative open job offer for when we move back up to the area. Good news, it pays at a minimum $2/hour better than what I am making right now, plus benefits. I will be able to stay with my brother if need be short term while the house sells, due to cash flow issues, my wife would have to stay where we currently are at until the house sells, DW is looking into possibilities for employment as well, so it looks like things are moving into place..yay! Bad thing is we need to wait till end of summer most likely to list house and sell it as we took 8k in first time homebuyer tax credit that would need to be repaid if we sell before the middle of october.
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resolution
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Post by resolution on May 11, 2012 7:01:01 GMT -5
Grats on the job offer and the free place to stay with your bother.
Moving is a lot of work and it can be intimidating to know where to start. You are really going to want to declutter your home to sell it, so maybe you can raise some money for the move by having garage sales or selling some of your larger items on craigslist. When I moved a few years ago I gave away about a third of what I owned to the Salvation Army; they came by with a truck and picked it all up and then I claimed it as a charitable contribution to lower my taxes. When I moved it took about six months from start to finish for me to get the house decluttered, everything moved and my house rented out. Part of that time was me trying to figure out where to get started and looking for a job in the new location.
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NoNamePerson
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Post by NoNamePerson on May 11, 2012 7:11:44 GMT -5
Well some good news, I talked with the owner of the company that is needing help and have a tentative open job offer for when we move back up to the area. Good news, it pays at a minimum $2/hour better than what I am making right now, plus benefits. I will be able to stay with my brother if need be short term while the house sells, due to cash flow issues, my wife would have to stay where we currently are at until the house sells, DW is looking into possibilities for employment as well, so it looks like things are moving into place..yay! Bad thing is we need to wait till end of summer most likely to list house and sell it as we took 8k in first time homebuyer tax credit that would need to be repaid if we sell before the middle of october. The "bolded" part of your post confuses me. I guess it is the word tentative. Are they willing to hold the job while you get your ducks in a row? Guess I play devil's advocate to much  |
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quotequeen
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Post by quotequeen on May 11, 2012 7:34:53 GMT -5
I've heard that if the house has declined in value you don't have to pay back the credit/you only have to pay it back to the extent of any gain.
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The J
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Post by The J on May 11, 2012 9:03:11 GMT -5
I've heard that if the house has declined in value you don't have to pay back the credit/you only have to pay it back to the extent of any gain.  You closed a couple months after I did (I closed in August 2009). While I know all real estate is local, there's a good chance that you've lost value off the purchase price like I have, which would eliminate the need to repay the credit. You only have to pay it back to the extent that the sale exceeds the adjusted cost basis. |
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deantrip
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Post by deantrip on May 11, 2012 10:32:51 GMT -5
As far as the tentative job offer, the owner of the company told me to give him a call when we move to the area (I didn't tell him it was a definite move) and he said he would give me a shot in his business, beyond that, my brother is running a fairly successful construction company and needs extra labor and Dad always needs help on the farm, so there is plenty of work there for me. I think it will take us until the end of summer anyways on finishing up some projects on the house before it could be sold, finishing these projects should increase the value of the property (not sure exact #'s) so hopefully we would break even, when checking comps in the area, they were right in the same price point we bought for a few years ago, but we don't have much equity in the home at the moment, so it is looking like an end of summer, early fall type thing at this point.
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