Small Construction Loan: The positive

During our trip last weekend, it gave us plenty of time to think about all of the positive  things that could come from our very crappy appraisal. With the appraisal coming (you can read about that here) in way lower than we expected, we are looking at a total mortgage of $120,000 instead of $200,000-$220,000.

Well, the first positive is our mortgage with be almost half of what we were expecting! Ha. I guess that was kind of an obvious one. Here is our list:

  1. We could pay our mortgage off in 20 years instead of 30. Can I get *Woot Woot* for being 44 years old with no mortgage?
  2. We could buy another property for additional income, either flip or rent out.
  3. When the time comes, the transition from having two incomes down to one income will be a lot easier.
  4. We can pay off our current car loans faster and drive for free! You can check out this Dave Ramnsey video here about the long term benefits of driving free (free meaning you pay cash for cars instead of financing).
  5. We can give more
  6. We can save more
  7. We could travel more
  8. We can built Ryan’s garage in 5 to 10 years instead of 10 to 20! Ha!
  9. We can give hope to people with tiny budgets!!!
  10. I will probably be able to buy rugs in the first year. Yay rugs!

That’s our short list of positives. Can you think of more? I would love to hear you may have!

Ultimately, God has a plan for us. There is a reason this happened. He has bigger plans for our money, we just aren’t sure what those plans are yet. He will show us in time.

I had a good cry, Ryan got mad, and now we are both ready to move on and tackle this project the best we can. God also must think we are pretty darn crafty and thrifty to make this house what we want with the money we were given! I kind of wish God didn’t think we were so talented 🙂

We are off to get a little work done at the house. By work I mean scrape wallpaper. I have an update to share soon about our new removal method.

Have a good weekend!



2 thoughts on “Small Construction Loan: The positive

  1. Moma always told Susan & I that all good things came to thoughs who wait. I used to get soo mad at her for saying that. But, over the years & getting older. I found out that she was rite. It will be nice to go on vacation when you get tried of all that work. Can’t wait to see you both. Love ya.

  2. So glad to hear that you are taking such a positive outlook! I am a firm believer that all things happen for a reason, even if we can’t figure it out right now! Hang in there. I bet you end up with a fabulous home with the money you have! You are young, resourceful and smart!

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s