Thank you all for the replies.
TheAnonOne
This would be difficult as I worked for a steel maker and their is only one of those around my location. As planner/project manager there is a couple of leads I am following up on, mostly in the potash industry (another industry struggling right now).
Diane C
It would work as a rental, it just doesn't make sense as one. Total cost of the house including renovations is $310,000. We would be looking at gross rents of $2,000/month. Less property tax($270), mortgage ($1,050) and insurance ($100) is roughly $580 net rent. I calculate that to be a return of 2.2% Fairly large risk for that kind of return. Now there would be some principal pay down on the mortgage, but I would balance that with additional risks of no rent/damage to the property. Thoughts?
Plog
Point taken, just goes against the constant optimization that I am use to doing. The cash will give me flexibility. I am fairly confident we will be okay as our savings rate, when both my wife and I are employed, was around 50%. I still agree with your point, cash gives flexibility.
Axecleaver
The severance pay is not contingent on myself being unemployed. I can treat it as a last larger paycheque. Part of my hesitation is that I would work for a contractor at the same site as where I was employed. This means the same conditions that caused my department to restructure could effect the contractor. If this were to happen, it would most likely occur in December.I am going to find out more tomorrow, having a meeting with the foreman, to confirm what position he is looking for me to fill. I am hoping that it would be an apprentice spot but I don't know that for sure.
When you were applying for tech jobs while doing the labour gig, how did you show that on your resume? Did you pare it down to relevant experience or something else?