gsquaredmom
Pearl Clutcher
Posts: 4,078
Jun 26, 2014 17:43:22 GMT
|
Post by gsquaredmom on Feb 27, 2020 18:37:34 GMT
I heard on our local news about a Chicago mom who rented a small apartment in a suburb whose high school offered an outstanding theater program. Mom and son live there during the week. Mom and dad did not want to sell Chicago home. They love the city living and their home. Apparently, since mom and son actually live in the suburban apartment, it’s legal. Can you do something like that? Would you want to keep your own home?
|
|
|
Post by hopechest on Feb 27, 2020 19:22:44 GMT
We're looking to move from Conifer down to Littleton and we are in the exact same boat. Plenty of equity in our home to roll into the next, but a contingent offer is going to be tough.
I've told my husband that we're going to sell and live in our pop up in the Walmart parking lot with our toddler, dog and 2 cats until we find a new home. He did not think that was as funny as I did. In all seriousness, I'm assuming we'll rent an apartment or something for a bit in between. I hate the thought of moving twice, but the reality is we're going to have to put 3/4 of our stuff in storage just to list the house. It's packed to the rafters right now. So, we're kinda doing the 2 move thing anyway.
|
|
samantha25
Pearl Clutcher
Posts: 2,912
Member is Online
Jun 27, 2014 19:06:19 GMT
|
Post by samantha25 on Feb 27, 2020 19:36:39 GMT
I get that you really want your kids in this one particular school district but it doesn't sound like the ducks are lining up to make that happen at this point. It might be time to reconsider, see if there's a different school district or perhaps if the one you're already in is acceptable. Because honestly? It sounds like you already have a bunch of debt and the new house would be a stretch financially even without the creative financing the peas are warning you against. Sometimes we have to step back and look at our situations with a different eye....(((Hugs))) I know that's hard. Thanks for the advice. We have no debt and mortgage on a new place at 550K with 200-300K down payment (From equity in current home) with taxes and insurance would be around $1900 monthly. We currently pay $1800/ month. Taxes are not much more than what we pay now, about $500 more. We pay a high tax rate. I will talk with our realtor today. Renting might be the best. I did try to choice into these schools and will hear back in a few weeks. Not too hopeful after talking to our principal- she said that she couldn't even choice in her daughter and she just moved into the CCSD.
Thanks for all the comments!
|
|
|
Post by iamkristinl16 on Feb 27, 2020 19:41:37 GMT
We have been thinking about moving for a few years now. At this point the stress is too much for the same reasons that you mentioned. Plus, our budget is not high and there aren’t many houses in our range that would work for us due to our family size. We did put an offer on one house a few years ago but we’re beat out by someone else who also has a contingency but they got an offer on their house the day they listed (the day after the offer). I’m worried that if we sold then rented something terrible would happen and we wouldn’t be approved for a new loan or something. That’s my own anxiety talking.
We have been getting postcards from realtors looking to buy homes as is in our area and I’ve actually been contemplating calling one to see how that would work. We might not get top dollar for our home but we wouldn’t have to deal with a lot of things, either.
|
|
|
Post by mimi3566 on Feb 27, 2020 19:54:47 GMT
Is renting the only option if you sell first? We sold first and lived in an RV for 6 months waiting for new construction. Perhaps you could buy or rent an RV (used) and live in an RV park for a few months. The monthly rental for a spot in an RV park is much, much cheaper than an apartment/house. It wasn't ideal but knowing it was temporary was worth it. Another option is family nearby....again, living with family is not ideal but knowing it's temporary could make it an option. That would only work if there is an RV Park in the school district the OP wants. I can tell you in our area, there are absolutely no RV parks in the school zones for the top middle and high schools in my county. They are waaaaaay far away in less than stellar school zones. If you have school of choices it might work if you can apply to get your kids into the zone you want, and they are accepted. But I’m guessing that’s not the case here, as the OP is moving specifically to be in the desired zone. This is true....I'm not familiar with the area at all but the OP asked for suggestions and I just threw it out there a an option if it is available. I live in the Orlando, FL area and there are RV resorts all over and most of them are in good areas near good schools...not all, but alot of them are.
|
|
samantha25
Pearl Clutcher
Posts: 2,912
Member is Online
Jun 27, 2014 19:06:19 GMT
|
Post by samantha25 on Feb 27, 2020 19:58:13 GMT
That would only work if there is an RV Park in the school district the OP wants. I can tell you in our area, there are absolutely no RV parks in the school zones for the top middle and high schools in my county. They are waaaaaay far away in less than stellar school zones. If you have school of choices it might work if you can apply to get your kids into the zone you want, and they are accepted. But I’m guessing that’s not the case here, as the OP is moving specifically to be in the desired zone. This is true....I'm not familiar with the area at all but the OP asked for suggestions and I just threw it out there a an option if it is available. I live in the Orlando, FL area and there are RV resorts all over and most of them are in good areas near good schools...not all, but alot of them are. There actually is an RV park in the school district. My parents stayed there when they visited at Cherry Creek State Park. I don't think my DH would go for it.
|
|
blue tulip
Pearl Clutcher
Posts: 2,986
Jun 25, 2014 20:53:57 GMT
|
Post by blue tulip on Feb 27, 2020 19:59:05 GMT
have you checked the vacancy rates at apartment complexes you'd be interested in? we sold our home in a hot market 4 years ago and planned on renting when we couldn't find the right house. suddenly every complex was full with waiting lists! we had to stay with family for about a month until we could move into our apartment. i had not anticipated that, but there is a real housing crunch going on in some areas right now.
|
|
peaname
Pearl Clutcher
Posts: 3,389
Aug 16, 2014 23:15:53 GMT
|
Post by peaname on Feb 27, 2020 20:03:59 GMT
I get that you really want your kids in this one particular school district but it doesn't sound like the ducks are lining up to make that happen at this point. It might be time to reconsider, see if there's a different school district or perhaps if the one you're already in is acceptable. Because honestly? It sounds like you already have a bunch of debt and the new house would be a stretch financially even without the creative financing the peas are warning you against. Sometimes we have to step back and look at our situations with a different eye....(((Hugs))) I know that's hard. Thanks for the advice. We have no debt and mortgage on a new place at 550K with 200-300K down payment (From equity in current home) with taxes and insurance would be around $1900 monthly. We currently pay $1800/ month. Taxes are not much more than what we pay now, about $500 more. We pay a high tax rate. I will talk with our realtor today. Renting might be the best. I did try to choice into these schools and will hear back in a few weeks. Not too hopeful after talking to our principal- she said that she couldn't even choice in her daughter and she just moved into the CCSD.
Thanks for all the comments!
I’m surprised you don’t qualify for two mortgages then.
|
|
|
Post by mimi3566 on Feb 27, 2020 20:08:22 GMT
This is true....I'm not familiar with the area at all but the OP asked for suggestions and I just threw it out there a an option if it is available. I live in the Orlando, FL area and there are RV resorts all over and most of them are in good areas near good schools...not all, but alot of them are. There actually is an RV park in the school district. My parents stayed there when they visited at Cherry Creek State Park. I don't think my DH would go for it. If it's a state park, you might be limited to a 14 day stay....that's the rule for most state parks that I'm familiar with (we RV as a hobby and a way of vacationing vs. hotels) so that might not be an option but RV Resorts will allow longer stays and they are priced that the longer you stay the cheaper the daily rate is. Like I said, we needed a place to stay when we decided to buy a new construction but wanted to sell our existing home first. We didn't have to because the existing home was paid for but just didn't want to deal with the upkeep and wanted the equity as down payment on the new home. The existing home sold so fast but knew we had the option of living in our RV in a resort just down the street from existing home so it was all good. It took 6 months for the new home to be completed...all in all our RV rent totaled less than $4,000 for the whole 6 months and that included water, electric and basic cable...not too bad.
|
|