Finally!!
Just finished all of ZA and recommended reading order with RB and DP. (Only took me 13 months 🫠)
Now finally there's an Aquarius MC!!! At least I think she'll be an FMC, Sky Witch!!! Giving some TOG vibes. 100000% recommend the reading order and tandem reading. Getting through ZA was even more fun with all the Easter eggs and inside jokes from RB and DP.
Looking for some outside perspective on a big housing/life decision.
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We currently own a home in the South with about $70k left on the mortgage at 4% interest. Home value is around $220k.
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A very close family friend recently passed away and left us their home in the Northwest, where we used to live. That house still has about $115k left on the mortgage. Because there’s no trust and it’s going through probate, we’ve been told by deceased persons lawyer, we cannot assume the existing mortgage and would need to pay it off and refinance/purchase the home in our names at likely 7%+. Since it wouldn’t be our primary residence (at least initially), we’d likely be looking at a higher interest rate as a second home or investment property, plus higher taxes/insurance.
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My mother-in-law currently lives there. The original thought was to let her stay and rent from us, but she is elderly, disabled, and on limited income. She says she can make it work, but we aren’t fully confident.
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I work remotely and could move. My husband’s job is very niche, but I think a larger city could offer more opportunities for him, even if in a different field.
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Options we’re considering, ideally keeping both of possible:
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• Stay in the South and let MIL rent the Northwest house
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• Sell our Southern home, move North, and potentially have MIL live with us with no mortgage
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• Sell one of the homes and simplify financially
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• Rent one out and keep both
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Complicating factors:
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• We love living in the South, though we miss family in the Northwest (don't miss the winter!)
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• Southern home has a larger, easier-to-maintain yard and no HOA
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• Northwest home is in a fantastic location close to everything, but has HOA, needs backyard renovations/tree work, and we have a restricted dog breed
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• Moving would cost would be very expensive and time consuming moving across the country.
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Trying to figure out what makes the most sense financially and practically. WWYD?