I have decided that the best thing I can do while I am waiting for my house to sell is to make alternate plans. That way no matter what happens I will have a plan to fall back on.
Plan A: Sell house. Buy a mobile home to put on my property and live off the interest that accumulates on the money from my house equity plus a part time job. Quit my full time job. Yea!
Plan B: Rent out house. Move to my property. This isn’t as good as plan A because I won’t have the income from the house equity and will have to keep my full time job.
Plan C: Move back in to my house for 2 years while the housing market recovers. The downside is I still have to pay $800 plus utilities. I would need to explore other income opportunities along with my full time job in order to keep saving money.
All of the plans have their good point. I prefer plan A but I will probably have to choose between plan B or C. In my next post I will brainstorm some ways I can cut expenses or raise my income if I move back in to my house.