We just purchased a house 7 months ago, while we are getting by, it's
pretty tight. Out of the blue, my husband just received a job offer
that would require us to move 3 hours away. At the low end of the pay
scale the raise would be 20% more, with the possibility for more. Due
to the fact that we haven't owned our home for very long, we can't
afford to pay a realtor. While my husband is really interested in the
job, we wonder if it would even by worth our while. Our options are;
list with a realtor and pay their fee(7%) out of our pockets- this
would allow us to move everything before our kids start school(Kind).
Or set my husband up in an apartment in the new location while the
kids(2) and I stay back(I'm a stay at home mom)and try to sell the
house ourselves. We really need some advice. |
Request for Question Clarification by
nenna-ga
on
05 Apr 2004 17:07 PDT
Are you looking for facts, or personal opinion on what would be more
financially adventageous for your family?
It's hard to find facts on what would work better, because every
person's situation is different, however....based on formulas, I can
give you an idea on how to decide what would be best for your family.
Let me know if that would work for you and I'll get back to you as
soon as possible.
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Request for Question Clarification by
nenna-ga
on
08 Apr 2004 06:28 PDT
Hey there again.
I was justwondering if maybe you missed my first clarification request?
Nenna-GA
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Clarification of Question by
24sullivan-ga
on
08 Apr 2004 20:37 PDT
Here is the short story. Since 1998 we have moved our household items
6 times, owned 3 diffrent houses and lived in 6 diffrent citys. I am
currently being treated for depression(could be because we move so
much!). This is the first job since 1998 that my husband loves and
enjoys going to, however he forsees cuts in the near future(his job is
safe, however his staff is not). Our family has been in this area for
2 yrs and have made a few connections(though nobody we would keep in
touch with). I am trying to figure out if it's worth up rooting our
family again, knowing (as with any job) that he might hate his job and
going to work everyday. We have all ready said that this would be our
last move(if he accepts). We have no ties to this area and would be
moving closer to other family members, both of which are appealing.
And we have mover so may times that this is not an issue, we are pros
at it by now. But money wise, realtor fees run 7%. (OK math time)
$16,000 amount of raise
- 14,000 realty fee
= 2,000 not much + that is just
the 1st year. And it would take him 6 years to get up to the 16,000
worth of raises. So I guess math wise it would make since to accept
the job, but is it worth the risk of leaving someplace where we just
started to find our "groove".
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Request for Question Clarification by
pafalafa-ga
on
09 Apr 2004 19:54 PDT
Seems to me you're missing an important piece of the equation, which
is the value/cost of housing in your current location, and in the
location you might move to.
Where I live, there have been some dramatic increases in real estate
values in the past 7 months or so, so selling even a
recently-purchased house could mean coming out ahead on the deal, even
after realtor fees, etc are subtracted out. But then...there would be
the cost of house in the new location to consider.
Also...if you are house-hunting in the US, there are discount brokers
that charge more like 3 or 4% for their services. Is this a
possibility in your area?
Selling as a for-sale-by-owner is always a possibility. It can be
risky, but there are certainly many stories about folks who have done
it successfully. Then, too, you might be able to rent out your current
house, and rent yourself a place in the new location, while you see
how things work out.
If you can, let us know in a bit more detail how we can best help you
with your current situation.
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Clarification of Question by
24sullivan-ga
on
12 Apr 2004 08:24 PDT
Housing has not changed much where we currently live. But our home
loan is a 5/1 arm. We took out 2 loans one for 80% the other for
20%(we only had 5% and got a better interest rate doing it this way).
So as far as renting out our house we couldn't possibly charge a
renter the amount of both loans, nobody would rent it. And selling
the house on our own may not work out either. My husband would be 3
hours away, and I have nothing keeping the kids and I here(other than
the house). So we would prefer to move everything into the new
location(apartment) and leave our house empty. Our kids would be
starting school in the fall and we would rather not have them start at
a school where we know we would be moving from. So we would rather
just have them start in the new location. As far as housing goes over
there, it's pretty much the same as far as values go, but new places
tax base is 50% less.
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