Now that the stress and excitement of planning a wedding are over we decided to go ahead and start the stress and excitement of moving! Yep we are in the process of trying to sell our current condo and find a bigger/cheaper place to live that is also closer to my job. Small order huh?
Background- Kristian bought his condo that we currently live in about 4-5 years ago at the height of the market. Well as with the rest of the country, the real estate market in our area has gone to shit and the value of his condo has severely dropped. Based on this and the fact that we are currently a one income household at the moment we have decided to do a short sale on the condo and look for a new place to rent for a year or two until we can figure out where we want to settle and buy a new place.
After talking to the bank and explaining our financial situation and what the other homes in our complex are now going for they went ahead and approved us for a short sale. So our condo is officially on the market, in fact someone already came by to see it last Friday. Admittedly we are hoping it doesn't sell very quick because we need as much time as possible to find a new place and pack and move. Once you are approved for short sale you no longer have to pay the mortgage so we could technically stay in our place mortgage free until it sells (which is another reason we don't want it to sell quickly).
We are hoping to rent either a 2 or 3 bedroom townhouse, preferably with a basement for storage in a location that will cut down on my hour long commute. Our realtor has found us a few places to look at and hopefully we can check them out this week. We are hoping that wherever we end up we won't have to stay in for more than a year or two but it would be nice to find a good spot to live in while we save up enough to buy another place. It's amazing that we will be able to probably rent a townhouse for several hundred dollars less a month than we were paying for our condo mortgage.
I must admit that as excited as I am to potentially move into a bigger house closer to work I am a tad bit sad about leaving the condo, after all it was the first home Kristian and I shared together and more importantly it was the place where he proposed to me. It will be sad to say good-bye but it's a necessary step we have to make to better our future.