Should I move from a house I hate?
Dear Dave,
I hate the house we live in ? the floor plan, age, the location ? everything. When we bought the house, my husband – Mr. Economics Degree – made all the decisions and I felt like my opinions didn?t matter. I really want to move, but I can?t convince him. I know we can afford to move, because we have about $200,000 in savings besides our retirement fund.
We owe abut $100,000 on the house we?re in, and could get it for $180,000. What can I do?
? Kim
Dear Kim,
If you really hate the house you?re in that much, I?d suggest going on a fact-finding tour and present him with solid reasons for a house you like and why it?s a good idea to move. This way, you?re giving him a concrete example, not just a concept.
I?m sensing, too, from the tone in your letter, that there?s a lot more going on with this relationship than just the issue of where you live. It sounds like you?re getting tired of having things like this dictated to you and feeling that you?re somebody?s maid.
Moving to a new house isn?t going to change that. You?re going to have to change your HOME or the house will not make you happy.
Try sitting down with your husband and explaining how it makes you feel when he treats you this way. You two might even think about talking to a good pastor or marriage counselor, a situation where your input is just as meaningful as his and not discounted.
When you guys were married you weren?t pronounced boss and employee. You became husband and wife ? as one. And that?s how these kinds of decisions should be made, not BY one, but together AS one.
? Dave
Dear Dave,
I?d like to start a scholarship fund at our church to help families afford a Christian education for their kids. We have a large number of wealthy people at this church, in addition to several families with small children who cannot afford a Christian college education. I?d like to bring these groups together.
? Chip via e-mail
Dear Chip,
You?re talking about an endowment fund here, a set-up where you deposit a large amount of money into an investment and let the interest generated from the investment enable your cause.
I would suggest first getting with a good mutual fund broker, like one of our Endorsed Local Providers. The broker can help you get the investment portion of this plan set up, and recommend a good attorney to help you establish the endowment fund and educate you on the legal aspects of this kind of fund.
I always recommend leaving money in a mutual fund for at least five years, Chip. Since the beneficiaries of this fund are still small children, that gives you plenty of time to educate yourself, set up the fund and let it grow for several years. Mutual funds have a great track record, and by the time these kids are ready, you should have a nice chunk of money sitting there to help them make their college dreams come true.
? Dave
Dear Dave,
My wife and I have two homes. One we built just after we were married, and we owe about $100,000 on that one. The other belonged to my grandmother, and we?re living in it now. I recently found an opportunity to sell the first house on contract to a young couple who can make a $4,000 down payment then buy the house in about a year. What?s the best way to go about this?
? James
Dear James,
I wouldn?t do a land contract in this situation. I?d make it a lease with an option to purchase, letting the $4,000 apply to the purchase price.
Now, make sure documentation states if they?re in default on the lease that the option is void. That way, if they don?t pay you only have to evict them, not foreclose on them. The young couple you?re talking about will get the same benefits, but it puts you in a much better position.
A land contract could cause you all kinds of nightmares, because in some states you?d have to foreclose on them.
? Dave