Monday, May 18, 2009

Seeking Wisdom

Jared and I are in the praying stage of making a huge decision.

1)We have gone through the pre-approval process of refinancing our home and we were approved for a fantastic rate (5%). We have been talking for quite some time about adding onto our upstairs. The kids have tiny closets, no bathroom, and our furnace is in the attic. After talking to a contractor we've decided the best place to build up is over our living room/office area. It would add about 300 square feet that would include a 5th bedroom, a full bathroom, & utility closet. If we wait we could lose the low rate.

2)Jared drives a 94 Honda Accord that is nearing 250,000 miles. It is continuing to deteriorate at what seems to be a quicker pace with each new day. He's desperate for a truck and I'm assuming the bank wouldn't be too keen on refinancing the house and giving us a car loan. The other issue is our van. It's a great dependable vehicle but it's tiny. Our little boys just fit and they're growing by leaps and bounds. Jared and I have talked about purchasing a larger vehicle for the family and then selling our van ourselves. Once the van is sold we would purchase him a vehicle.

We were supposed to start the paperwork for the house last week and the week before but due to a funeral and my broken foot the appointments were postponed. Now we're questioning which route we should go. The addition to the upstairs is an affordable and needed venture for our future. Right now we're doing just fine but we know as the kids grow having a bathroom and another bedroom would be ideal. If we don't do it now we will do it in 1-5 years.

The house is functional as is but our vehicle situation is volatile. It's a hard decision because of the economy. Investing in our house is just that, an investment. Purchasing vehicles is buying a depreciating asset.

We've decided for the time being to just be in prayer. The Lord knows our future and He knows our needs. Our goal is to be in His will in all that we do.

5 comments:

Alisa said...

I know you aren't necessarily asking for an opinion, but I'd say the vehicle situation is more pressing and it will still be there even if you do the house so ultimately you'll end up doing both. The house addition would be really nice, but not a necessity like a vehicle is.

just my 2 cents...take it or leave it!

Shannon said...

I appreciate your opinion so I'll take it! I agree and I really think we're on the same page. We are so blessed with a beautiful home that we love we are content with it we just know in time we'll need the space. I love cars and am excited at the idea of switching them out I just want to make sure we are in His will and not seeking bigger and better earthly things. We want to be able to get our family around not impress the neighbors. I was going to say "impress the "Jones'" but since we actually know a whole slew of Jones families I didn't want there to be unneeded confusion :)

The Lane's said...

I love the "Jones" comment - too funny! I have no opinion to share but want you to know that I will gladly keep you in prayer as you make this decision.

Anonymous said...

You should keep the van for Jared to drive...a lot of good a truck is going to do you with 5 kids. Just another way for him to skate on helping you cause he doesn't have room in his 'truck'.

Shannon said...

Wow anonymous. Your comment was a bit harsh. You know I married him because I love him right?