Georgia Trail Riders Forum
MEMBERS DISCUSSION AREA => General Discussion => Topic started by: Alex on May 02, 2012, 04:40:57 PM
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Well i have been working for a civil engineering firm in Albany Georgia for the last year. I had to buy a house down here in Lee County due to no places to rent. Since i have been here, my pay has been about 5 to 6 thousand less than what i was told i would be making after 6 months. I also have my first child due in August so money is a concern of mine.
I just applied for a Job with URS in Atlanta due to a friend who works for them told me to apply and see what happens. Well they just called me and want me to interview for the job and want me to start in the next month or so if they offer me the job. I was not expecting to start that fast. The money would be anywhere from $10,000 to $15,000 a year more than i am making now with great benefits.
The problem is that i have a house down here and even with the new pay, i would not be able to afford to have a mortgage and rent on a house. Houses in lee county sell relatively fast (3-5 months) but i would be forced to pay double rent during that time. I will also end up loosing about 3 or 4 thousand due to realtor cost plus what i payed for a down payment. I have about 10 grand in savings so i could afford to pay the 3 or 4 thousand out of pocket plus a few months double rent but i also have a 10,000 doctor bill that i will have to pay because i am going to go over my maternity max on my insurance.
So what would GAtrailriders do if they were in my situation.
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Something else that you need to look into is if might also get hit with a capital gains tax with the sale of your house because you haven't been living in it long enough. It used to be you had to live in the house at 2 years of the first 5 years of purchase.
First I would make sure you got the job and then put the house up for sale a quick as you can and probably just look for a cheap apartment to rent until it sold.
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Find someone to crash with in or around ATL until you could sell the house!
I would change jobs. It may not be the most idea time to do so but it sounds like your current job isnt going to really carry you. If the new job gives you career advancement in the future then go for it. The house part sucks but if you know you can sell it then its not as big of a deal. You are a lot better off than most! Right now I have to wait till July to sell my house or we have to pay back the $8k first time home buyer tax credit thing.
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Seems like a big deal now, but this too shall pass. In a few years this will all be a faint memory.
Decide what is best for you and your family and proceed with the plan to make it happen and clean up the loose ends.
Rent the house out til it sells for a good rate to a deserving responsible person and let a real estate gal manage it for a fee and sell it. If there is a shortaget of rentals, there ared some good folks looking. t might take longer than u thi k, or not.
Make a plan and stick to it.
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Seems like a big deal now, but this too shall pass. In a few years this will all be a faint memory.
Decide what is best for you and your family...
^^^ THIS!!
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RENT your house. The renters market has been booming for sure in my area. Even if you can't get the full mortgage payment it's still better than paying two full payments. It will work out, it always does.
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I rent my house out in Suwanee. Hoping that the market comes back one day.
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I could rent my house outfit sure. My morgage is 835 a month and I could rent it out for 1000-1200 a month. I may end up doing this untill it sells. I don't have the job yet but I will know by the end of the month.
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I'd rent it out for a while then decide if you want to sell or just continue to rent. I moved here from LA about 2 years ago and have been renting out my condo since I moved. I originally bought it knowing I'd eventually rent it out though.
I'm sure it'll work out.