Update on the House

We made an offer and it was accepted. We've been approved for financing. We are in the process of trying to rent out our house.

Why are we insane enough to rent?

This is the 411, Big D was having a hard time going from a home that would be paid off in about eight years to a home that would take us thrity years to pay off. He understands that a bit more space would be nice but the $$$ was driving him crazy, which I don't blame him.

We researched all our avenues: sell our home on our own, get a realtor, rent the home, burn it to the ground (not really). We've found in our research that if we rented out our house until it is paid off then we can sell it, hopefully the market will be good or at least better than it is now. We take the money from selling our house and pay off our new one. We'd be out of debt in about ten years.

Or we could not sell the house when it was paid off and just use the rent to make our house payment at the new house. Big D really likes the idea of being out of debt, which I don't blame him.

We have talked to a lot of people about renting, some who are renting now and some who rented in the past. They all have different points of view but one thing they all agreed on is it is hard to be a landlord. One friend told us, "Renting is hard, if it were easy everyone would do it." But he also said that if we can stick it out it can prove to be lucrative, of course he has five rentals and I don't think we'll ever go that far.

A wise man once told me that 'life is what happens to you when you're making other plans'. We have made our plans and hope it works out, but if not we are along for the ride. Let's just hope we don't end up loosing everything including our lunch.