Decisions, Decisons, Oh What To Do????

[Esther]

Originally Posted by Sheltiedad

Don't get further in debt just to get a guest room... cheaper to put guests up in a hotel unless you have them all the time.

My wife has started a professional organizing business in Houston by the way (have to plug it for her since Rhoni brought up this kinda stuff. lol. it is http://www.organizationalbliss.com ... you would be surprised what you can do with your existing space. Are both offices used full time? If not put a day bed in the partially used office and add lots of shelves and containers for storage.

Brother your wife would have nightmares if she came here to try and organize!

We have outgrown this house several years ago.

I have run out of space in MY office/library for my books, yet I can't get rid of them and buy more.

I love to read and write.

My second dad built be a sewing machine cabinet and I have bought fabrics on sale to sew when I have time and have been sick nearly every since. So it is stored in my room.

My husband has his office desk in the spare bedroom that we could only take the bed down and put it against the back wall, so the other bedroom furniture is in there with him.

The other reason we want to move is to avoid another evalcation of any future storms. Last one was a nightmare and we are on the edge of mandatory evalcuation.

[Esther]

Bump for more suggestions.

[Rico]

Originally Posted by Sherri

That's why I want to have some kind of residual income by then, that has nothing to do with the ministry. Haven't quite figured out what that is yet!

Have you considered an annuity?

[Rico]

Originally Posted by Esther

Bump for more suggestions.

Sister, I'd be careful with purchasing any type of double wide mobile home. Sometimes they do go up in value but it depends on the type, location, and brand name.

[Digging4Truth]

Your realtor says that you won't get 1/2 of the invested amount if you add another room.

This much is true.

But... you are not adding the room to turn around and sell it. You are adding the room so that you don't have to turn around and buy another house and create a brand new mortgage when the one you have is 2/3 spent.

If you add the room you need and are able to keep your home then your home will serve the needs you have now and the mortgage will go away in the amount of time you need it to go away in.

[Digging4Truth]

Originally Posted by Rico

Sister, I'd be careful with purchasing any type of double wide mobile home. Sometimes they do go up in value but it depends on the type, location, and brand name.

Agreed...

There is no "shame" in owning a mobile home. I have bought 2 in my lifetime (used not new) and I came out ahead on both of them (I cleared $6000 after payoff on the first one and $12000 on the second) but that is the exception and not the rule. I got good deals and I fixed them up.

I could never see one coming out ahead selling a site built home to buy a mobile home.

[The Mrs]

Originally Posted by Digging4Truth

Agreed...

There is no "shame" in owning a mobile home. I have bought 2 in my lifetime (used not new) and I came out ahead on both of them (I cleared $6000 after payoff on the first one and $12000 on the second) but that is the exception and not the rule. I got good deals and I fixed them up.

I could never see one coming out ahead selling a site built home to buy a mobile home.

I agree...with the appreciation in home values, a home's equity has the potential to be a huge investment for your future.

[Sherri]

Originally Posted by Rico

Have you considered an annuity?

Yeah, we've got annuities set up and trusts for the kids, etc. But I really would like to have some kind of business income too. Just pondering.....

[commonsense]

Could MH also represent modular home? My husbands' brother retired a few years ago ; they had lived the last 30+ years in the San Jose,CA area, which is quite costly. They sold their house (purchased in '64) and moved/retired to Nevada.
The purchased a nice modular home. They bought a lot and the home is installed permanently on their lot.

It may not be for everyone, but it is an alternative.
____________

We have a few years til retirement and are also trying to pay off existing home to avoid undue expenses in our "old age"! We could live an a better neighborhood and have a "fancier" house but didn't think we wanted to work "forever". At our current payment rate, (we always add extra to pmt for principle) we should be able to pay off the mortgage before we turn 66.

[Esther]

Originally Posted by Digging4Truth

Your realtor says that you won't get 1/2 of the invested amount if you add another room.

This much is true.

But... you are not adding the room to turn around and sell it. You are adding the room so that you don't have to turn around and buy another house and create a brand new mortgage when the one you have is 2/3 spent.

If you add the room you need and are able to keep your home then your home will serve the needs you have now and the mortgage will go away in the amount of time you need it to go away in.

All that you have stated is true, however, don't forget IF we stayed here we could be force to leave and lose everything to a hurricane.

That is a very big factor in this decision as well. Otherwise, it would be easier to add on than pack up and move.