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Operation HouseSwap is ON! May 21, 2011

Posted by Mitchell in Home, Operation HouseSwap.
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I had lunch and discussed the House Situation with The Parental Units this afternoon. We did the official Running of the Numbers to see if it was in fact doable. It is indeed doable and so we then proceeded to outline The Plan. It is thusly: The Parental Units are going to start looking for a smaller, one-story house for them to rent. When they find said place they will move out of their current house to the new one. Some stuff they’ll leave behind, and the other stuff they don’t take will be sold. I then move out of my place into theirs. Then I put my place up for sale. Currently house prices in this community are about one-third of what I owe. If I get that then I’ll still have $124,000 to owe. The Parental Units will then make up that difference and I’ll be out from under this house entirely. I’ll then rent their place at their current mortgage rate and pay a bit extra besides to start paying them back for the difference. Basically it’s an interest free loan. There will be a bit of a gap between when my place sells and when I can take on that rent payment but they’ll let me stay mostly rent-free for that period. So there it is. Funny, for what they are looking to pay in rent is about what my mortgage is now, but of course they can find a MUCH nicer place than what I’ve got.

This also means that I need to start getting The Submarine Hut ready to sell and start packing up my stuff. All other arty-type projects are on indefinite hold. And blogging. I’m going to be kinda scarce for a while, sorry. This is also going to stretch me close to my financial limits so Yorling is right out for the foreseeable future too.

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Comments

1. Lipstick - May 21, 2011

Congratulations, Mitchell!

2. Mitchell - May 21, 2011

Ah-yeaup, that’s about the scope of things. I let them know that they could leave this heavy, bulky thing behind but they seem intent on taking it with them. Come on Parental Units! Downsize!

Seriously though it’s going to be kinda weird living there. I’ll be like a BB rattling around in a barrel. The walk-in closet of the master bedroom is nearly the size of one of the bedrooms in my current place. It’s a four (edit) FIVE bedroom, two level house with a great-room upstairs. Did I mention that they’re leaving the pool table? And probably the dart board. The kitchen is huge compared to what I have now…with gorgeous granite counter-tops…and and an island…and a pantry.

3. LC Aggie Sith - May 22, 2011

I will pray you sell your home as quickly as possible, Mitchell. Make sure you do all the tricks to get it to sell, too.

You know….candles, table laid out, the scent of pie baking, soft music, no personal effects, and even re-arrange the furniture around. If I lived there I would be all over that!!

4. Nicole - May 22, 2011

Sounds like I know what B&B to contact next time I go to Vegas… 🙂 Just kidding, dude.

Congrats on the move and the upgrade. I’m glad things worked out well for all of you.

I’ll have to see what I can do about taking up some Yorling slack, though my budget is stretched with travel this year.

5. Mitchell - May 22, 2011

I’ll actually be out of the house entirely when I put it up. I’m a distinctly untidy dude so it will be the only way this place will be nice and clean and ready to show at any time.

I’ll have plenty of room Nicole!

One of the nice things about the new house is that it’s very close to the freeway so it’s easier to get places than where I am. Even though it’s further away from work it’s still faster to get back and forth from there than it is now.

6. e - May 24, 2011

cool beans….
good luck !

7. melody - June 4, 2011

Your parents love you so so much.

Mitchell - June 5, 2011

Yeah we have a great relationship. It’s going to be difficult to explain to my brother & sister though. They’re not in such great shape financially and the Parental Units will not help them. Eh, long story…


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