Blogging Away Debt Our Journeys to a Debt-Free Life

by Hope

I wanted to settle the great debate that has been raging in my head for the last, almost year, since my devastating job loss. I have no plans to sell my home. Holding on to this home is what I want to do.

You all have given me some fantastic advice as I struggled with this thought the last several months as things became so hard financially.

Brief Recap

I currently live in and own a 1100 square foot, brick home in a tiny little town in Northeast Georgia at the base of the Smokey Mountains. I love tiny town living. And I have poured tons of blood, sweat, and tears into remodeling this home to make it perfect for me (and my dogs.) This is the first home I ever bought completely on my own.

My home (pics 2022)

When I lost a really great and loved corporate job a year and a half ago, I hoped to jump right into a similar role. To date, I have not even come close to finding a new full time job despite 100s of applications. But I have been blessed with several part time jobs and some project work. But things have gotten really, really tight and scary at times.

I am just now getting back on my feet after about 4 months of almost losing everything. And selling my home and moving to a larger market became a true debate.

Decision Made

But I have decided to no longer entertain the thought of selling the house. There are lots of reasons but here are the highlights that tipped the scale.

1. Chances of me qualifying for another home purchase are slim to none in the nearby (ie several years) future due to my debt load and the trouble I’m having finding a full time job.
2. This is the perfect retirement/grow old in house for me and my lifestyle. So even if I move away for work at some juncture temporarily, having this home to come back to in my old age seems perfect. It’s one story, has great bones, and after almost 7 years now I know all the quirks and needs which is very comforting for me. (And the rental market here is HOT so I would have no problem renting it out should I move away for a while.)
3. The cost of living is so low. I have known for a long time, like decades now, that I never want to be house poor. I don’t think I could find a house for this cost in this condition nearly anywhere. (I paid $90,000 for this home 2 1/2 year ago.) Once I get out of my consumer debt, I could afford life here relatively easily.
4. I wasn’t able to give my kids housing stability growing up due to a number of circumstances. But holding on to this house which is the longest any of us (including me) has lived anywhere, gives us all some sort of roots. Something I never had and I desperately wanted for my kids. It may not be much, but that means something to me. And it gives them somewhere to come home to, should they ever need too.

Content

Having this decision made ahead of the new year gives me an immense sense of peace and contentment. One less thing to distract me as I work my way back and forward to a new life.

Also, good news, that I will share more of in the new year, as of today, my mortgage is paid through February 1 (so I am one month ahead now) and I have paid over 1/2 of the payment due then! Woot, woot!

Hope

Hope is a creative, solutions-focused business manager helping clients grow their business and work more efficiently by leveraging expertise in project management, digital marketing, & tech solutions. She’s recently become an empty nester as her 5 foster/adoptive kids have spread their wings. She lives with her 5 dogs in a small town in NE Georgia and prefers the mountains to the beaches any day. She struggles with the travel bug and is doing her best to help each of her kids as their finish schooling and become independent (but it’s hard!) She has run her own consulting company for almost twenty years! Hope began sharing her journey with the BAD community in the Spring of 2015 and feels like she has finally in a place to really focus on making wise financial decisions.