A couple of weeks ago I wrote that Jason and I were looking at buying a tiny house. Well that didn’t turn out as we expected! Our financial advisor knew in advance, though. “You will never get a mortgage,” Frugal Tim prudently advised us when we told him our downsizing plans.
“What are you talking about?” I scoffed at him. “We’ve had five mortgages, owned rental properties… All much higher amounts than this.”
“Yes,” he replied. “but that was before you were totally self-employed.”
He was right. Humbly, I admit we were politely told to pound sand by the mortgage brokers. Once you talked out my prof income and Jason’s income at the clinic, both which don’t count, and the rest from our businesses is almost all written off (legitimately,) we barely made above the poverty line over the last two years. On paper, of course.
So we thought hard about this whole downsizing thing, and if we wanted to still do it. The answer was yes. So we decidedly to brave the incredibly cutthroat family with pets rental market in Kelowna. I know people that have been looking for months. And due to fate, luck or my mother-in-law’s prayer chain, we landed a house to rent, one block from where we live now, in two days. Sweet. The owner is an old aquaintence… He’s a prof at the university and we had lectured at a conference together way back when. He agreed that I could decorate at my expense, and I agreed to be the best tenants ever. We signed the deal, and took possession two days later.
So now Jason and I are the proud tenants of a extra tiny house. It’s… Hold onto your chairs… 700 sq feet for our family of four, plus three dogs. The cats are going to the clinic. Obviously a downsizing to a third of our current house size requires some serious planning. So this week and next, I am painting it, have ordered a whack of new teeny furniture, and am cleaning up the yard. Then I take off to Ethiopia with Vulnerable Children Society for two and a half weeks, during which, nothing will happen. When I get back, the real work will begin.
In October, we will move our most valued and useful possessions over to the (did I mention 700 sq ft) house. I plan to have a huge estate sale, and then this house will be ready for painting and refinishing the floors. After we spif it up, we will put our house on the market at the end of October. Both Jason and I are pretty confident it will sell quickly, without the distraction of our kids, pets and mess in it. And then we will be footloose and asset free (except a car and a clinic.)
Here are some pictures of the new house… The folks we are renting off of are Central American, and have a love of tropical colours! I’m painting it in a more subdued pallets. Stay tuned for the rental renos before and afters!