Plan Adjustments & Preparing For A Recession

Plan Adjustments & Preparing For A Recession

We have been ready to move to our forever homestead for some time now, but the right property has yet to hit the market.  At the same time, it’s impossible not to notice the rising prices of well, everything.  We realize that flexibility continues to be a huge key to successfully achieving our goals, so the game plan is being adjusted, while we take extra steps to prepare for a possible recession in the near future. 

 

 

We applied for mortgages in February of this year and obtained several pre-approvals.  I have been on Zillow every single day since then, finding lots of “ones that could work,” but which were missing key elements.  I am acting as my own realtor (which is allowed because of my status as an attorney), so that I can take the buyer’s commission off of the price of the property.  

Fun fact: Did you know that you can apply for several mortgages at one time, to shop around for the best rate, and it only counts as one hit on your credit score?  Just make sure that any hard credit pulls are done within the same week to be safe.  

We did find some viable options that were a few hours away, but such a move causes issues with our two properties here, which we intend to use for rental income.  If we move far away, we would either have to sell these rental properties or pay for property management services.  

 

We hoped to be moving this summer, before school starts in the fall.  However, as we creep further into May, that possibility seems less likely.  It feels like our life has been paused, holding our breath for the right house, and it hasn’t come along yet.  Months ago, we were wondering whether to bother with a garden if we’re moving, or if we should sign the boys up for little league baseball.  Now, we know that even if we find a house today, it will be at least a few months before a move.  We will still be looking and hoping for a house to make into our forever homestead, but it’s time to accept that this might not be the right time and trust in God’s plan for us.

 

Instead of just holding our breath, we’re going to switch gears into making the very most of this summer, at our current home.  The price of everything is out of control.  Our family is preparing for a recession (just in case), by focusing on self-sustaining activities this summer.  We will grow our gardens as usual, but pack them with as many vegetables as possible – for eating fresh and preserving.  I’ve decided to try adding potatoes this year, in containers, and recently purchased a honeyberry aka haksap bush to add some fruit to our bounty.  We will also be collecting firewood, for whether we’re stuck here for another winter or for the wood stove which will be installed in the new house. 

 

And . . . we’re getting chickens!!!!!  Can you tell I’m excited?  Yes, in our little suburban yard, we’re going to raise chickens for eggs.  We have an old deck that needs to be torn down before we move anyways, so we’re going to use some of the wood from the deck to build a little chicken coop.  This is one of the things that we were waiting for a homestead before trying, but why not give it a shot here and move the chickens with us?

 

While it’s true that we have been waiting years to see our homestead dreams come true, we’re not going to force it, just to follow our ideal timeline.  The right home will come, at the right time.  For now, we will not wait to live, but try to be thankful and make the most of our our current situation, while the economy reeks havoc on the finances of many others.  

 

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