Sold: Moving On

It’s gone. The house was sold and the closing has come and gone. I’m no longer a homeowner. It is a bittersweet feeling, but I know it is for the best right now. The house was too much for me at this time, and it was time to move on. The rules under which I purchased it with the FHA loan would have meant that I would have been obligated to pay nearly $300 in PMI for the life of the loan, making the mortgage rather expensive for my budget. 

The original plan was to purchase a home outright with the equity from the sale of my home; however, the homes in that price range left me in tears more than hope. Not good tears either. They were either in shambles or in terribly unsafe neighborhoods. And if they were a nice home in a good neighborhood, they sold so quick, I never had time to get in to see them. 

So, for now, I plan to rent while I build up my credit, pay off a few debts, and just rest without having to “worry” about homeownership type of things (lawn, maintenance, et al). I’ve already paid off my car and a few outstanding debts, with a few checks in the mail to pay off the rest. I’m taking the advice of a financial advisor and getting my ducks in a row and looking at buying a more modest home, but not outright as I had originally planned. Just with a smaller mortgage and no PMI (due to a higher down payment this time around). This would mean a smaller and more manageable mortgage payment as I get closer to retirement.

Moving into an apartment also gives me time to look at my need to downsize my belongings. You know, the actual purpose of this blog? To do more simplifying of my life and decluttering, both of physical and emotional baggage/clutter. I think this season will be good for me. I just need to take a deep breath in, hold, then release the past and take that first step forward.