Friday, February 17, 2006

The House is SOLD!!

Yeah! We sold our house in Akron! For those who don't know we still own a duplex in Akron. When we moved here we thought we would keep it for the income, but things didn't go as planned. Financially, it would be pretty good income if we kept it, but it is just is too hard to manage from here and we didn't really want to go the route of hiring a management company. We felt it would be better just to be done with it. We have been renting out half of it since we have been here and leaving the other half empty to show! It has been a drain on the budget, but we haven't been stressed about it. Just patiently waiting.

Well after much negotiating, we finally have an agreement. We got a very good price. (about 20 more than we paid four years ago) In typical Miller fashion though, we have spent the equity (via our line of credit) and then you add closing costs. (I had no idea how much those would be!) So, when it is all said and done I still have to move some of our debt elsewhere (ie credit card!) and use our whole tax return to close this house. Oh the joys and pitfalls of credit! When oh when will we learn to live on cash!

So anyway that is the good news. We have enough realtor friends to know that it aint over till the closing, but we are praying for it all to go through smoothly!

7 comments:

  1. Wonderful, wonderful, wonderful!!!!!!! I've been in your shoes renting a house out when no one lived close by. Sometimes it can be pure (you know what)! Steph, if you commit to not eating out (a big weakness in the Miller clan), keep your current vehicles forever, and stay within your current budget, you will be able to eliminate all your debt (including the school loans). Oh, and don't pay for college deducation for your kids!

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  2. well you can sure see I didn't go to college! That is what getting your education the Amish way will do for you!

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  3. Yeah Steph, if you drive a car that you have to duct tape the door handle (so no one will use it!) then you can have finacial freedom!

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  4. Well going out to eat has always been a big weakness for us, but that was pretty controlled when we used our cash budget. We need to go back to that!

    I think our biggest problem is that we have always spent everything we made. There has never been any savings to fall back on for car repairs or other "unexpected" expenses.

    Driving our cars forever is not an option. I am being patient about the van, but I don't know how much longer it or my patience will last!

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  5. yeah we are getting there....

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  6. We'll pray, too, that the closing will go smoothly.
    Regarding money management -- boy, been there, done that. Does it ever bring home the truth of the Proverbs verse: the borrower is slave to the lender. Nothing like being in debt, then losing your job or facing a major medical crisis. Helps put the wants/needs categories into clearer perspective.
    If you like the stories about your grandparents, I remember when we were growing up. I can count on just a couple of fingers eating a meal out as a family at a restaurant in Richland/Riceland (can't remember which). During a good year, occasionally during the summer, in the evening, we would go as a family to Cutters at Guerne for an ice cream cone or rootbeer float. Occasionally we would get to stop there on the way home from Wooster with Mom after music lessons/grocery shopping. Remember the first time Mom and I ate at McDonald's in Wooster. Eating out was a rare privilege. My in-laws, by the time I met them, ate out every Sunday after church. But they had come through lean times in earlier days, and had frugal ways.
    I've enjoyed following Mary Hunt's advice on the Website http://www.cheapskatemonthly.com/ -- gives one hope to get straightened out, and creative ideas so you don't have to feel poor. http://www.crown.org/ is good, too.
    Problem is, we all know more than we put into practice -- right? But sometimes a good pep talk can be an encouragement, helping us look at things in a different way. Sometimes there's even a new idea we hadn't thought of.
    Aunt Nancy

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  7. Steph, when you are done with your van, I'm sure I can get some more miles out of it. Delilah, what is wrong with my duct tape? If you see some brown duct tape that more closely matches the color of the van, it would be an improvement. What is more intresting than the tape is getting into the passenger side without using the door. We are poor mountain people being as resourceful as possible. Besides, the van isn't worn out yet and I was taught to not get rid of things until they are.

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