Thursday, November 6, 2008

What To Do About My House

Well, I decided to tell my tenants that the house will not be available after January 3. I haven't told them yet because THEY ARE LATE WITH THE RENT AGAIN. Oops. I was yelling wasn't I. I contacted my short term renters to see if they are still planning to stay at the house in January and they said yes they still want rent from me. When my renters bring me some rent money I will give them the move out notice. I decided that I want a break from the stress of being a landlord and I really want to see my house and make sure it is ok. I might even move back in for a little while. I have made a new mortgage payoff spreadsheet for this scenario. My current renters will move out at the end of Nov. or Dec. and my next renters will be gone at the end of February. Then, if I want to, I can move back in for a year and rent to my short term renters again in 2010. Then I can rent out the house long term. This plan will take 2 years and 2 months. I have many spreadsheets with many different plans. Any plan that takes around 2 years is good. There are pros and cons to moving back to the house.

Cons: Will add 4 months on to my mortgage repayment plan over renting it out continuously which will take 1 year and 10 months.

Kitty might not like it.

Might get too lazy to work on mobile home renovation.

Pros: Curbside trash and recycling pickup.

Garage with remote door opener.

Lots of water/hot water.

Full size kitchen.

No bumpy dirt road.

No pit bull.

Can still work on mobile home renovation on the weekends.

Close to work, saves gas.

We will see. I might move back for a month and decide I don't like it. The house is only 1400sqft but I feel like it is too big for just me. I thought about renting out a room but I would rather live alone in my RV than share my house with a stanger. Perhaps I will find a good renter, then I will be happy to go back to my cozy little RV.


Sharon S said...

Hi there-might be worth trying short term like you say. hope you get to the right decision for you!!

Over the Cubicle Wall said...

It's nice to have options that all get you where you want to go in the long (but short really) run. Makes everything you do seem worthwhile.

Sallie's Niece said...

I say you are working so hard to pay off your house you may as well enjoy it for a little while. Sucks about your renters always being late!

Daizy said...

When the renters are late with the rent it makes me want to move back in...but when they are not I am happy in my RV. I think I need to do a better job picking renters next time!