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September 2012 Moms
Holly_1007
member
housing situation question (long)
Holly_1007
member
We bought our house 3 years ago, when Keagan was a baby. It has 4 bedrooms, two on the upper floor and 2 on the main floor. The two upper bedrooms are currently mine/DH's and Keagans, SD's room is on the main floor and we turned the 4th bedroom into a playroom for the kids. Our original intent was to have Keagan and Colby share a room. I won't get into the details but Colby sucks at sleeping through the night. Its not even that he wakes up, there is something going on that makes him scream bloody murder at all hours of the night. So Colby's crib is currently in our bedroom, and I really don't think him and Keagan will be able to share rooms anytime soon, but I need to get Colby out of my room. So we have two current options:
1. Refinance our house, take the equity out and finish our basement (it was finished 50+ years ago and needs to be re-done) Move all the toys and "playroom" stuff down there and put Colby in the old playroom on the main floor. (I'm not very comfortable with him being on another floor of the house than us, but we will be transitioning Keagan to a bed soon and I feel even more strongly about Keagan staying in his current bedroom). and FWIW I have already had the house appraised and we do have enough equity in the house because of some sweat equity and the value of our house has gone up.
2. Look for a new house. We would have to sell our house in order to buy a new one, but we have enough equity to be able to put a pretty significant down payment. We would still be in the same price range of what we could afford and it could take a while to find something in our price range that is big enough, and has all the bedrooms on the same floor.
We need to just make a decision and go with it. If we refinance and finish our basement then we are going to be stuck here for a while because it would significantly cut into any down payment we could have on a future house (although finishing the basement would obviously raise the value of the house)
I would love to just buy a new house, especially if we could get a little bit closer to where my SD's mother is, but we need a 4-5 bedroom house and like I said, it is going to take us a while to find something like that in our price range.
so, WWS12D?
This discussion has been closed.
Re: housing situation question (long)
If refinishing the basement will make this your "forever home" - or at least close to it - I would do that. If you're going to go through all the work of renovating and still feel like you've outgrown the place in a few years and look to move then, I w
I guess the questions you have to ask yourself are:
A) do you have the extra $ in your budget for a higher monthly payment if you refinance your house.
C) Is moving w
We would be in a similar situation as you if we stay in our current home and have another baby.
Our goal is to get out of our house with putting us in any kind of financial trouble, or doing significant damage to our savings.
If we ar
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I would sell. You sound like you're not very happy with your current home and now is the time to do it while the children are small and you have a lot less to take with you. If you were to refinance you'd be sticking yourself in that home for a long ti
Since you are listing the playroom as Colby's room if you refi, I would go ahead and clean out the playroom now and use it as his bedroom. The weather is getting nice, the boys can spend more time playing outside. Get some baskets and move some of the
Babies are inconvenient.
I'd put Colby downstairs for now, and deal with getting up and going down there. It sucks, but it's temporary. Hopefully b
Nancy James 9.1.12
Calvin Donald 8.27.14
Advance warning--this may come off as cold or unsympathetic. I'm really not trying to be. I just honestly think you're losing sight of what's most important here.
1) From all your posts on here, Holly, about how tight finances are, un
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