One More Year

As much as we were hoping to avoid this, Mr. Farmhouse Finance and I just signed a rental agreement and put a deposit down on another apartment for a one year lease.  Renting for one more year will allow us to save more money for the down payment and closing costs, and will give us plenty of time (hopefully) to complete the house.

We just signed a rental agreement for one more year.

Building Update

It seems like it’s been months since I’ve written a building update (probably because it has been), and every time someone asks about where we are with the building process I have to laugh before saying, “basically in the same place as the last time we talked.”

About two months ago we had the well drilled on our property.  This was after waiting for dry weather and the driveway to be completed so we could get the well truck back to the site without it sinking into the ground.  This was the last hurdle we had to clear before getting our Board of Health approval and finally being granted approval for the subdivision.  We drilled the well, then we had to wait for another guy to come out to get the water sample.

Then we waited.

Then we were asked to get another water sample to test for some other things.

Then we waited.

Two months later, we are still waiting for the Board of Health to approve our septic and water system, and cannot do anything else until we have that approval.

Apartment Stress

We have been living in our apartment since November 2015, and extended our lease once for six months and then again for three months.  Our landlord sold all of the units that he owned in our building, and our unit was sold to a woman who is going to use it as her residence (rather than someone else looking to rent it out).  We have to be out of our apartment on August 25th.

As our move out date quickly approached, and zero progress was being made on the house, we started to get really stressed about where we would live while we were waiting for the house to be completed.  Back in the Spring, it seemed like the timeline would be close, and we might just have to live with family or friends for a few weeks while things were finished up with the house in September.

Then it became apparent that a few weeks wouldn’t cut it, and we should be looking for an apartment that we could go month to month with or sign a six month lease with.  As the summer started flying by, and nothing was happening with the house, it started to feel like even six months wasn’t going to be enough time to get the house built.

Looking for a New Unit

We live in a college town, and there are two types of apartments: student rentals, and everything else.  We absolutely do not want to share a house with college students, so we would not even consider those types of rentals. The condominium complex that we live in is nice and quiet with a mix of older, retirees, and young professionals.

First we contacted our current landlord to see if any of the new buyers were looking for tenants, and if they would consider a six month lease.  We found out that there were a couple units available, but the new owner only wanted someone that would sign a one year lease.

After some hemming and hawing, we decided to contact the new owner to look at the two units that were available, and told him we could do a year. The first unit we looked at was very cluttered (thanks to the current tenant), but the second unit we saw was the same size and helped us to really picture the layout.  Both of these units are one bedroom apartments that are slightly smaller than our current place, so we would need to do a furniture edit when we move in.

After a stressful couple days going back and forth with the new owner and feeling like we almost lost both apartments, we just signed a rental agreement and put a deposit down on the cluttered apartment.  Once the current tenant moves out in a couple weeks, our new landlord is going to put in new laminate floors (probably pay Mr. Farmhouse Finance to do it), and make a couple repairs before we move in at the end of August.

Hopefully this is the last lease we have to sign.

We just signed a rental agreement for another one year lease.

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4 Comments

  • Just think of all the additional savings you will end up having as well as humorous stories to tell in the years to come (maybe not funny right now).

    It’s a drop in the bucket, keep your head up and an eye on the prize.

    • Thank you. It feels counterintuitive to spend money renting in order to save more for the down payment, but I know more time will get us closer to our new savings goal. I do have to chuckle, though, each time someone asks about how our house is coming along.

  • Was just thinking on Twitter: “oo wonder how their house is going?” Now I know :/

    Don’t fret! In the long run a year means nothing. Gonna go dig through your site looking for house pics now 🙂

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