Should We Move????

Updated on August 19, 2008
S.D. asks from Lake Dallas, TX
7 answers

Ok so this is way out there but my husband has been thinking about selling our house and moving. I am a SAHM and we are barely making it as it is. He works full time and owns his own mechanic / 4 wheel drive shop. Things are slow at the shop and the owner has gone up on the rent (a lot). The money we are paying there could be added to a bigger house payment. We were thinking about moving out on some land somewhere and having a garage / shop in the back. I am not sure where to start. I sort of think its a good idea, but then again it is just crazy. I am not even sure if we could get out from under our house. Does anyone have any good suggestions on if we should move or not and if we should move, then where to start?

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T.F.

answers from Dallas on

This is not the greatest time to sell a home and if you buy a home the interest rates are higher.

If you are having some problems financially, the LAST thing I would do would be sell and go for something bigger. It sounds like your husband needs to re-negotiate his deal with the shop. It could work out to his advantage because if he leaves the shop, the owner is not guaranteed to find a new tenant with this particular market, therefore, the owner might give him a break to stay.

As for at home business, you opened a can of worms there. You will have mlm'rs sending you all kinds of stuff. Just remember IF you go with a MLM at home deal, you are making money for whomever sighed you up not YOU.

Get on Ebay or Craigslist and sell some of your baby clothes, etc anything to make a little extra cash. Watch one or 2 children at home could also benefit your child. Built in playmates and socializing skills.

Good Luck

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C.S.

answers from Dallas on

You could always put your house on the market and see what happens. I wouldn't purchase land or buy anything until your home is sold. Good luck!

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J.L.

answers from Dallas on

I don't know much about the housing market issue, but I did read where you are looking for a home-based business. There are MANY out there to choose from. My husband and I have an online store that pretty much runs itself (www.leblancpromotions.com). It has a lot of the Amway Global products, too! It is definitely worth looking into to see if it might fit your needs to do something like that. Best of luck!!!

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L.M.

answers from Dallas on

If the rent has been raised at your husband's mechanic shop then he needs to end that relationship. Numbers don't lie. If the rent is too high for his business to continue existing in it's current state, then it's not going to magically get better. My question is, if he moves his business can he bring his clientelle with him? Instead of drastically moving to the country or wherever (big step) why doesn't he just move his shop to a new location where he can still service his existing clientelle. In the meantime, you can put your house up for sale and begin to look around for a lesser priced home (there's lots out there). who knows? you find a nicer home in a better area for less money. the key is your husband keeping his current customers. starting over with new customers is very difficult and takes a long time to rebuild.

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A.U.

answers from Dallas on

You would probably need to move somewhere rural (outside the city limits) before you could operate a shop from your home. I would definitely sell your current home, before making any land/home purchases. I only assist buyers in finding homes, and I would love to help you after your home is on the market. If you need to sell, please tell me where you live so I can find a good listing agent that sells in your area. Also, where are you looking to move?
Blessings, A. Underwood
____@____.com

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C.A.

answers from Dallas on

I would suggest maybe putting your house on the market and when it sells either find a smaller house or an apartment and consider re-negotiating the rent on the shop. A lot of times if landlords know you are at risk of default they will work with you.

It takes a little while to get a shop up and running in a new location so I would only consider that once your finances are stable.

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J.J.

answers from Dallas on

Honestly, if you are "barely making it," I think the worst thing you could do is get a more expensive house. I understand your thinking in that it would be in lieu of business rent, but if the business doesn't pick up you could not only lose your business, but also your home! I suggest your husband try to renegotiate rent or move his business elsewhere. Moving to the country in order to get land for your business would also mean moving away from a larger customer base. It doesn't sound as if he already has a strong enough customer base to be able to do this. Plus, selling right now is NOT easy. There are homes in my neighborhood that have been on the market for over a year now. Please think VERY carefully about all the possible implications before making such a big move.

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