Am I myhousebound forever???

[tloonya]

I have a opposite problem to wrongside...I want to stay in my neighborhood but I do not want house anymore.
I want small nice appartment. However cost of a small nice appartment will be around $1200/mo.

My mortgage is $1072/mo including taxes and insurance.

If I had rented out my house I could get $1500 probably.

So I will be moving. Leaving in a smaller place...for more money!

How stupid is that?

So what do I do? I do not want to sell the house because I can not find anything in my area for $1072/mo. I doubt I can find anything decent in ANY area for $1072/mo. Soooooooooo....what do I do if anything???

[swamp]

How much are your utilities? Are they included in the rent?

[Colleenz]

Rent out the house and live in the produce store.

[Deleted]

Looney, didn't you rent out a bedroom to someone?

[GRG a/k/a goldenrulegirl]

Oct 6, 2012 15:08:46 GMT -5 tloonya said:

I have a opposite problem to wrongside...I want to stay in my neighborhood but I do not want house anymore.
I want small nice appartment. However cost of a small nice appartment will be around $1200/mo.

My mortgage is $1072/mo including taxes and insurance.

If I had rented out my house I could get $1500 probably.

So I will be moving. Leaving in a smaller place...for more money!

How stupid is that?

So what do I do? I do not want to sell the house because I can not find anything in my area for $1072/mo. I doubt I can find anything decent in ANY area for $1072/mo. Soooooooooo....what do I do if anything???

I'm not math genius, and I may be missing some infomation, but, if your mortgage payment is $1072 and you rent your place for $1500, don't you earn a net *gain* of $428??

If so, your apartment rent will only be $772 -- $300 LESS than your mortgage payment.

Right?

[susanb]

Oct 6, 2012 16:41:19 GMT -5 GRG a/k/a goldenrulegirl said:

Oct 6, 2012 15:08:46 GMT -5 tloonya said:

I have a opposite problem to wrongside...I want to stay in my neighborhood but I do not want house anymore.
I want small nice appartment. However cost of a small nice appartment will be around $1200/mo.

My mortgage is $1072/mo including taxes and insurance.

If I had rented out my house I could get $1500 probably.

So I will be moving. Leaving in a smaller place...for more money!

How stupid is that?

So what do I do? I do not want to sell the house because I can not find anything in my area for $1072/mo. I doubt I can find anything decent in ANY area for $1072/mo. Soooooooooo....what do I do if anything???

I'm not math genius, and I may be missing some infomation, but, if your mortgage payment is $1072 and you rent your place for $1500, don't you earn a net *gain* of $428??

If so, your apartment rent will only be $772 -- $300 LESS than your mortgage payment.

Right?

The danger with this equation for Looney is that it doesn't account for the cost of 1. having to update/paint between tenants 2. months where she doesn't have tenants or 3. maintenance costs 4. increased insurance costs or 5. taxes she will have to pay on the rental income.

In addition, Looney is already assuming a lot of risk owning her own business.

[The Walk of the Penguin Mich]

Oct 6, 2012 15:08:46 GMT -5 tloonya said:

I have a opposite problem to wrongside...I want to stay in my neighborhood but I do not want house anymore.
I want small nice appartment. However cost of a small nice appartment will be around $1200/mo.

My mortgage is $1072/mo including taxes and insurance.

If I had rented out my house I could get $1500 probably.

So I will be moving. Leaving in a smaller place...for more money!

How stupid is that?

So what do I do? I do not want to sell the house because I can not find anything in my area for $1072/mo. I doubt I can find anything decent in ANY area for $1072/mo. Soooooooooo....what do I do if anything???

Why don't you talk to Doxie?

[Peace77]

What's wrong with your house?

[Deleted]

Didn't you just get a loan modification? If you did, there's probably language in the contract that says you have to live in the house. If it was just a regular refi, maybe not.

And what happened to the tenant you had in one of the bedrooms?

I think you should probably just stay put. It will cost money to move...first and last month's rent and another month's rent as a security deposit...and the cost of the move itself, along with deposits for utilities. Holy crap! You'll never get ahead if you keep trying to make changes to "save" money.

[Deleted]

If you don't want to own a home, don't own one. I own a home and i enjoyed an apt just as much as my home. You enjoy where ever you choose to live. There are pros and cons. I lived in nice apts and i enjoyed them and i loved not having the responsibility and liability, i felt a lot freer. So, do whatever you want to do that works for you.

[tloonya]

Oct 7, 2012 8:23:14 GMT -5 Peace77 said:

What's wrong with your house?

Nothing wrong with it.
We just never there.
We come to eat and sleep.
Yard is huge and needs work I can't do myself so I have to pay people to do it.
2/3 of it not in use.
My DOG had her own room!!!
Yes I had rented room out and it works beautifully!
All I see is money for rent every month. She is basically invisible.
I told you - sometimes I have to come and smell by her door to make sure she is alive! When we get home - she goes to work and on weekends she does a lot of volunteering. OOut with friends and visiting parents....busy bee!

So I just think I want less living space because I am so tired all the time! I have a cleaning person comes twice a month and she is my life saver.
I could cut on landscaper and cleaning person and electric/energy bills...
I had heard one man moved into an appartment and he almost had a heart attack when he saw his bill was only $40 vs $600 he used to pay in his huge house!
He yelled 'Oh! I am a forever renter now!'

No I am not obligated to live in the house because of the modification.

[tloonya]

Oct 7, 2012 16:08:12 GMT -5 @shooby said:

If you don't want to own a home, don't own one. I own a home and i enjoyed an apt just as much as my home. You enjoy where ever you choose to live. There are pros and cons. I lived in nice apts and i enjoyed them and i loved not having the responsibility and liability, i felt a lot freer. So, do whatever you want to do that works for you.

I would not ask thiis question and do what I want...except I can't find nice appt for a price of my mortgage!

I was just googling appt price for 3 brm and I found one for $3700!!! Of course it was the most expensive...

I owe less than $200K on over $300K house. (for those who asked)

[Deleted]

I don't owe anything on my house, nor my car, nor anything else. Why do you need a 3BR apt? I buy what i can comfortably afford.

[tloonya]

Oct 8, 2012 11:59:47 GMT -5 @shooby said:

I don't owe anything on my house, nor my car, nor anything else. Why do you need a 3BR apt? I buy what i can comfortably afford.

Oh! You are not just beautiful....you are smart as well.
Bet you aren't married. ;D
...and old...otherwise HOW can you not owe for anything?

Hey! I just said 3br because ... thats what I said. And not because I am considering to move into 3br $3700/mo appartment!!! Gotto think sometimes too....u know...