Debating on selling my house

bigshow345

Seasoned Expediter
It does not make a bit of sense to pay for something that I see only once every two months. It does not make any sense to have to pay for a landscaping company to mow my lawn or rake my leaves while I am criss crossing the roads of the good ole use. So I put my house on the market and selling the possessions in it. For a mailing address ill just use a po box. What do you all think? Sell or no sell?
 

layoutshooter

Veteran Expediter
Retired Expediter
The main reason I don't sell mine is because I can't. NOTHING has sold around us for YEARS. The house next door has been for sale for 4.5 years now.

It would also be VERY hard to find suitable storage for my toys. It is other wise a wast of money to keep.
 

cheri1122

Veteran Expediter
Driver
It does not make a bit of sense to pay for something that I see only once every two months. It does not make any sense to have to pay for a landscaping company to mow my lawn or rake my leaves while I am criss crossing the roads of the good ole use. So I put my house on the market and selling the possessions in it. For a mailing address ill just use a po box. What do you all think? Sell or no sell?

Your decision, but if you do it, you will not be entitled to claim the 'per diem' on your taxes - it requires a home to be away from.
 

coppertone

Active Expediter
It does not make a bit of sense to pay for something that I see only once every two months. It does not make any sense to have to pay for a landscaping company to mow my lawn or rake my leaves while I am criss crossing the roads of the good ole use. So I put my house on the market and selling the possessions in it. For a mailing address ill just use a po box. What do you all think? Sell or no sell?

If you have family, you can use their address for mail and if you give them a little money during the year for "rent", you can use their address for your per diem. I don't think you can use a P.O address on your CDL though.
 

paullud

Veteran Expediter
If you would rather have the money in the bank I would sell. We are planning on selling our house for a few reasons including we are rarely going to get there and we would rather have the cash. If we want to get out for awhile then we can go get a room for a weekly rate wherever we are and have a vacation.

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asjssl

Veteran Expediter
Fleet Owner
If you have no home you can't deduct for per deim???

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ATeam

Senior Member
Retired Expediter
If you have no home you can't deduct for per deim???

That is correct, though "home" does not have to be a house. It does need to be a place where you actually live and maintain a legal residence. In Diane's and my case, it is rented space in a relative's house. We spend more time on the road than we do at home, but because we have a home, we are allowed to take the per diem deduction.
 

cheri1122

Veteran Expediter
Driver
My situation is the same: after a couple years of paying rent for an apt I barely got to use, I gave it up and arranged to rent space in a relative's home. Much more cost efficient, and no reason for the IRS to get excited. :)
 

Jason2

Veteran Expediter
Owner/Operator
I don't know about other states but Alabama you can't have a p.o. box number on your title or vehicle registration or car insurance as permanent address. also on your p o box you have to have a residense address. just also remembered no p.o. box on driver licence
 

Monty

Expert Expediter
If you are fortunate enough to actually own your home, (no mortage), why would you sell it?

And even if you are making payments, there will come a time when the road will no longer have it's appeal, or you are unable to do it.

A "base" is a nice thing to have!
 

ATeam

Senior Member
Retired Expediter
If you are fortunate enough to actually own your home, (no mortage), why would you sell it?

And even if you are making payments, there will come a time when the road will no longer have it's appeal, or you are unable to do it.

A "base" is a nice thing to have!

Yes, a base truly is a nice thing to have, but there are ways to establish one beyond owning a house.

Diane and I owned a nice house in the suburbs on a one-acre lot when we entered expediting in 2003 and sold it a year later for some of the same reasons bigshow345 and cheri1122 list above.

We liked being out on the road (still do). When it got to the point where the only reason we were going home was to take care of the house, and after it became clear that we would succeed as expediters, the decision to sell the house (and cars and most household goods) was easily made.

As a number of expediters do, we established a base in the area and near family by renting space in a relative's house. It has worked out great. Our mail goes there. We built a concrete slab for truck parking. Shore power and water are nearby. Lawn mowing and maintenance is the homeowner's problem. That is the community in which we officially reside and in which we are registered to vote. For per diem deduction purposes, it is as legal as it gets. A written rental agreement exists that provides for use of certain rooms and common areas, similar to what an agreement would provide among roommates who rent space in a house from the homeowner.

This place feels as much like home to us as any other place could, provided that we do not stay too long. The down side is the shared space aspect. The house can start to feel small if we stay for an extended time.

You don't park just anywhere because other cars come and go. When you go to plug in your phone charger, the outlet may be already in use so you find another. When invited guests come that you did not invite, you have to put things away that you otherwise might not. And don't get strict with that spoiled dog. It out ranks you in the pecking order. Overall, it is a good arrangement and the negatives are instantly resolved when we get back on the road.

We know people who have no home base at all and are able to live happily in their truck year-round. They have put enough money away to pay cash for a house at will. They plan to do so when their time comes (old age) to come off the road.

Diane and I do not criticize that plan but, listening to them, think that they may not fully appreciate how long and drawn out of a process it is to find and buy a house you actually like and then make it into a home of your own. Of course, that may be exactly the kind of new challenge they will enjoy when trucking gets left behind.

Home and home base mean different things to different people. I remember when we sold our house, some expediters here in the open forum harshly criticized the deed, citing reasons why we should not do it and why others should not either. What they failed to realize was that the reasons they cited were reasons that were important to them. They did not grant that people value things differently and make house decisions for all kinds of reasons.

If you are an expediter or expediter wannabee who is now considering house/home/home base options, listen to and consider the advice others give, but also understand that "home" is an emotion-laden concept for many people. The more passionately their advice is offered, the more likely it is that they are thinking more about their values and needs than yours.
 
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Monty

Expert Expediter
"home" is where I find my wife .... we are not a trucking couple.

I kinda like it that way .... we have many honeymoons together .... and we don't fuss at each other much either!
 

leezaback

Seasoned Expediter
Owner/Operator
I would sell my truck first. We worked hard for our place, would not give it up-who knows what will happen tomorrow in this business. I know when the road ends-home will be there waiting to greet us .
 

paullud

Veteran Expediter
I would sell my truck first. We worked hard for our place, would not give it up-who knows what will happen tomorrow in this business. I know when the road ends-home will be there waiting to greet us .

We worked hard at a job we hated to get our house but we can always buy a new one when it is time to get off of the road. Now we can work doing what we love to buy another house that we love. If the house was paid for it might get rented out but I still think even then we would sell it.

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scottm4211

Veteran Expediter
Owner/Operator
I'd take a good look at your homes current value and go from there. Might be worth holding on to if you feel the housing market will rebound.
 

Rocketman

Veteran Expediter
Phil gave a very good analysis of the concept. I have followed a path very similiar to what other's have done. Mine was less intentional, but in the end worked out well.

My advice to Bigshow would be to do a strong evaluation of your situation.

Do you have an option for establishing a residence like others here have done? Be very careful about this part. You need to be very comfortable with where you will establish your residence. Be sure that the other party is very comfortable with the arrangement also.

Are you happy with your driving career? If your not sure you will be driving for several years, don't make a long term change based on short term circumstances. This also includes determining if your ok with staying on the road as much as you do. If, in the future, you decide to make changes that will allow you to be home more you may want to have a house of your own.

Do you have a mortgage? In my case, I did have a mortgage. I not like the fact that I was making mortgage payments along with other expenses of owning a home and it was not being used.

Getting rid of the house was a good move for me. It gave me the freedom to start looking at my finances in a different way. Instead of trying to figure out how to make ends meet, I am now able to look at everything I do strictly as an investment. If I spend money on something now, it is a either a good investment or something that I am comfortable spending my spendable income on.

I did recently buy another house. I did not buy it to have a place to live, although I will live there. I bought it because I felt like it was a good investment. The equity I got out of my old house (and saved) was enough to pay cash for this new house. This house is worth at least as much as the house I sold. When the time comes, this house too will be sold..at a profit hopefully.

I guess my point is that if you do it for the right reasons and in the right way, selling your home is one of the most liberating moves you can make. Done right, the money you spend on owning a home can become the money you use to build your net worth and investments.

The downside being: The housing market is in the dump right now. Selling a house now (with prices bottomed out) and attempting to replace it later (if the prices recover) could be a losing gamble.

There is a lot to consider. Each individual has their own set of needs and circumstances (as Phil pointed out). You need to spend a lot of time understanding what your going to do and how your going to do it. Don't make a knee-jerk decision. Make an informed and well thought out decision and then stick to it. If you take the equity you have in your home and blow it on cars and beer and wild women....well...ok, scratch that :D
 
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BillChaffey

Veteran Expediter
Owner/Operator
US Navy
Depending on the size and lay out of your home. Have you considered a "Mother in law suite"? Rent the house and keep the suite for when your in the area. You have someone taking care of your property and make some money besides. Plus the tenants will have to keep it clean and presentable since they will have no idea when you may come rolling in.:p
 

mrgoodtude

Not a Member
Bigshow... We have been in your shoes and in a time where it was still beneficial to own a home, that being said..
I was tired of paying for lawn care at the paltry sum of $250 a month, sick of the $1200.00 a month mortgage and all the honey dooo's that came with owning real property every time I landed in the drive.....
Truth is I drive by the ole house 6 times a year and resist the temptation to knock on the door with an offer in humility.
Guessing I have been there 45 times since she sold and we started this wonderful expedite journey.
If ya sell the homestead just be sure you don't sell "you" in the process or ya might feel the way I do...Good Luck BTW
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