Stay Curious.
Dig Deeper.
Nurture What Matters.
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The BoldHeartMama desires to enjoy living out the choices that she’s made for herself and for her family. She is a relentless learner: curious, inquisitive, and open to the possibilities of her life and of the human condition. She understands that there isn't one right way—she asks questions that dig deeper to make sense of it all and to find her own path.

She pays attention to and nurtures whatever it is she really cares about, letting go of the rest (for now) knowing she can't do and be everything all at once. She embraces her imperfections in favor of "good enough"—her imperfect self, her imperfect home, her imperfect mothering, her imperfect desires—and she never stops evolving as a woman and mother. She is a BoldHeart, authentic and true to herself.

The BoldHeartMama knows there is only this one life and she's all in. She is present and engaged and making things happen. Her intuition is her guide. She seeks to be inspired and relies on her creativity and her resourcefulness to solve the big and little challenges that she and her family face together as they navigate their relationships and their world.

The BoldHeartMama is willing to take calculated risks to make her biggest dreams come true. She is living out her BoldHeart in the moment, making small moves and taking little steps that add up, and she's cultivating a good life for herself and her family in the process. Read More!

Friday, July 29, 2011

Here's the deal

After over a year of debate and conversation dedicated to the housing market and our current mortgage we finally decided to throw our caution, fears, and regrets to the wind and put our house up for sale.

Just to see what might be possible.

We bought our home in 2006 just as the market began to crash. We sold our first house and moved into our second ignoring the recommendation of our mortgage broker who, at the time, was making his best effort to discourage us from buying.

We should have taken the hint.

Over the last 5 years the value of our home has depreciated. It is now worth close to 150,000 less than what we bought it for.

Depressing.

We're about to own the worst financial decision that we've ever made. We're short-selling this house and we made it official on Tuesday.

There are so many reasons why we want to move, I mentioned some of them last year in a tour of homes post:

We've now lived in this house for almost 4 years, and when the market turned our mortgage flipped upside down. In truth, we do not love living in the suburbs. And we especially dislike paying an inflated mortgage! We've realized through this experience that we are city folk, and that we thrive on access to good food, entertainment, and culture, and that we HATE long commutes, traffic jams, and not having outdoor spaces in which to stretch our legs.
If we could do it all over again, hands-down we would choose an older, smaller house closer to where we like to work and play. Especially now that we have children to consider. There's nothing worse than having the world at your fingertips (i.e., Washington DC adventures), but finding yourself trapped behind 2 hours of bumper to bumper traffic. We would love the opportunity to have an intimate relationship with the area in which we live, and to explore our community on foot. Furthermore, it would be awesome to live in an area where a true sense of community actually existed.

While those reasons are still true—save a few of the details—they aren't the reasons we're taking action now.

In short, we've come to terms with the fact that this house just wasn't a good investment. Yeah, we bought it to live in it, not just to make money, but still. It's a money suck that will require years before it is even worth what we paid for it.

We're cutting our loses and moving on.

Of course, the bank has the final say, but the hard part is over—the house is under contract—now we just wait.

With the prospect of not being tied to any one place, or tied down by a comical mortgage payment, we will be free to follow bigger dreams. I cannot wait.

6 comments :

  1. Wow. So are you guys moving to Richmond or Cali?

    I agree with you though, if we could afford it, we would live in DC.

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  2. We have no plans yet, just ideas. We'll most likely rent somewhere in order to do location research for building a house in the future. A lot depends on Andy's company--they're gearing up for a move further south. If it happens soon then we'll probably head toward Richmond too, if it's a year off we may stay in the DC area for a little while longer...

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  3. How exciting for you all. A new adventure sounds like fun.

    Good luck!!

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  4. Good luck with the short sale! You have such a great attitude about it... it's hard to just accept that stuff and move on... I am learning that now, I finally quit my job, TODAY, and will have to work very hard to not stress over money and how much I could've been making/how much sooner we could've paid off our debts!

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  5. Frugal Vegan: Wow! Congratulations, I know a lot of emotional tug and pull went into that decision. But yay! Lucky you and lucky Jane!

    There is relief in coming to the right decision. The money we put down on the house, and the time, money, and love that we put into the house is already spent so we just have to focus on the future. Lessons learned.

    There is sacrifice in losing altogether or only having a partial income, but the opportunity to raise your girl every day will be more than worth it. Our babies won't be babies forever.

    ReplyDelete
  6. I meant to add that the last part has been my experience at least :)

    ReplyDelete

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