I’d Be Stuck Without My Mom…

Well….The news isn’t good.  My realtor did an analysis of my home and the suggested listing price?

$52,500

How much did I pay for the home?

$92,500

How much do I currently owe on the house?

$83,500

If that doesn’t make you depressed, I don’t know what will. If it wasn’t for my mom agreeing to live in my house, I’d never be able to move in with my boyfriend.  She hasn’t agreed to any particular time frame, but I am hoping she likes living here and can do so for a few years.  At least until I can pay off more of my debt and see where I am at in my relationship.  Ideally, I’d like to have my house gone and my consumer debt eliminated before we get married.  I don’t know when that will be and technically we are not engaged, but we both feel we are headed in that direction.  Even though my student loans are the bulk of my debt, I’d rather that be the only debt and payment that I bring into the marriage.  If something should happen to me, that debt is forgiven and he would not be held liable for it.

My only real goal in life was to own my own home.  I am positive my unstable upbringing had much to do with it (we moved a lot and lived with many a relative).  However, I now think owning your own home is not all it’s cracked up to be.  I’d really wish I were still renting.  The only positive is that I could decorate the way I wanted and I have my dogs.  I wouldn’t give them up for the world!

So, thanks goes out to mom…. she is really helping me out financially and allowing me to move forward in my life.

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4 responses to “I’d Be Stuck Without My Mom…

  • Jason

    A lot of people are doing what you’re doing right now (renting for the price of their mortgage until the price of the home comes back up) so I think what you’re doing is OK. You better budget in a little extra $$$ for mother’s day this year! Haha

  • Louise

    oh gosh, that house value has really dropped a lot! Ours has dropped about 10% in the last five years here. Thats great that your mums going to rent it.

    • Jenn

      I bought at the height of the housing boom, and inside the city limits. Inside the city limits, even in a slightly more desirable neighborhood like mine, the prices have plummeted. I live close to the University so it makes it a little better. But I think people are snapping up the foreclosures for cheap to turn them into rentals. Although the 6 Medical Marijuana places at the end of the street (including a 24/7 place)that have popped up probably don’t help the prices in this neighborhood.

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