The Move

So, it was all kind of a whirlwind, and I'm not sure many people even had time to hear about it, but we moved out of our town house so we could turn it into a rental. Currently we are living with Andrew's parents down in Southern Maryland. We've been wanting to take advantage of the low prices and interest rates of the current housing market as well and get ourselves a single family home. We've also been planing to keep the townhouse as a rental property since it's in such a great location what with being right next to Ft. Mead and all.

Unfortunately there have been too many people bailing on their old houses when then buy a new one, claiming that it was going to be a rental, so the banks are reluctant to approve loans for people switching their primary residence into an income property. After some calling around we found that SunTrust had one of the least restrictive requirements. We just needed to have been moved out and renting our current house for at least six months before they would include the rental income when qualifying us for a new mortgage. Andrew parents very graciously are allowing us to stay with them during that time, which is going to be much cheaper than renting a place of our own and enabling us to save for a down payment when we get our new place.

It's be quite an undertaking because we decided to do this, then actually moved out in the space of about a week. We're still doing little projects around the town house to get it ready and the extended family has been a really big help with that. We've already had a few people contact us about the place, and one is supposed to be looking at it later this week, so hopefully we'll have a renter in there real soon. With the speed of everything though, I wasn't able to have things packed in as organized a manner as I would have wished for, so finding some of the things we need/want for the next six months can get a little challenging and we are still settling here, but so far things are going quite well. It's all be really exhausting though, particularly for Andrew who has been getting up at 4:30 to miss rush hour to work and then most days going to the townhouse afterward to do work on it.