One step closer to selling out and moving provinces!
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|Tue, 08-21-2012 - 4:16pm|
I wrote in Family Finance about dh and I thinking of moving. He has loved his job the past 15 + years but the last 6 months or so he has not been as happy there. We started brainstorming about moving to BC (to an area we both love). It would be hard for DH to find work there (we would live in a more rural location - not near a big city) that pays what he make now so we started throwing out all sorts of ideas.
I have been researching various towns, Chamber of Commerce and websites that promote businesses for sale in the area. We have come to the conclusion that owning a business would be the way to go rather than look for employment. DH and I area seriously looking at buying a franchise.
Our plan is to sell our house in 2013 (we would list in Feb/March). Also, in the spring we would sell our holiday trailer which, with regular payments we make to our car loan now, would come very close to paying off that loan if not completely. We would use some of the equity of our home to pay for the franchise and I am plan to research grants and business loans etc to help with cost of setting up the business. Compared to many franchises, the start up is relatively low and it is in the same industry my dh currently works. We both are very excited about it and scared too.
We have talked off and on for about 4 or 5 years about moving to BC which we fell in love with on a family vacation. At some point we just need to take the plunge. It is a business that we could work right away and hire employees as we grow the business which appeals to both of us (not having to hire a bunch of people right away). DH would do the work and I would manage the books/office managment side of things.
I still have lots of research to do (including taking a trip to the area and get to know the towns, etc) and this is has gotten us even more motivated to pay off our car faster and save more money!! We owe just over $17k on our car right now. I feel very empowered by taking these steps (even if only in research and planning stages). I have always wanted to live lakeside where there are trees and this will get us closer to the dream.
Mostly likely we would rent a house and build up our down payment towards another home while we build our business.
If anyone has advice (how to's and where to research etc) would be greatly appreciated!
strivng to be debt free for the big move!!