I'm really confused...

Me and FH were talking yesterday..and we really have NO clue waht to do..rent or buy...of course we can NOT afford a home, not anywhere in NY anyways...so we were thinking maybe a condo or co-op...we were going back n forth about buying/renting...

What do you think is the best possible solution?
We are paying for the whole wedding ourselves (in August), we both still live at home, so we will be moving out around then...When also should we start looking?
TIA!

Re: I'm really confused...

Dont start looking till after the Wedding. You don't want to get involved with a home sale while you are in the home stretch of your wedding.

Plus during the home stretch of the wedding... you most likely won't have any time to even look at houses.

Re: I'm really confused...

I agree with waiting till after the wedding. If you can afford a condo/co-op I would do that over renting.

If you are renting all you are doing is giving someone else money each month. If you can come up with a down payment it is a better investment to purchase a coop/condo so you can get some equity out of it, or have something in the end. What do you really have at the end of a lease?

Re: I'm really confused...

Move to FL

Definatly wait till after the wedding. We bought our house 2 months before the wedding. It was crazy. I was flying back and forth to NY, permits were being pulled, our signatures were needed, and things had to be done all at once for both the wedding and the house. We even had a call on our honeymoon from the builder that we had to sign important documents as soon as we got back.

If you can afford the condo/co-op go for it. It will make a great investment and when you are ready to buy a house you'll have the condo/co-op you can sell.

Re: I'm really confused...

Thanks'!!

Melissa, I would LOVE to move to FL...I would do so in a heartbeat if I can convince Gaetano...!

Re: I'm really confused...

Our wedding is in August as well, and we bought our house in December... I agree it is a LOT of stress.. for me it was the busiest time of my job as well.. I was constantly yelling and in very bad mood cuz of the stress.
.. but do what is right for you.. I personally think that owning beats renting.. for the amount of money you pay for rent, you OWN a piece of the world

Good luck whatever you decide. FM me if you have questions

Re: I'm really confused...

I think it's really hard to say to wait until after the wedding to look for a house. Where are you going to live after you get married? I would say to start looking at either condo's or apartments now. Talk to a bank and see what you qualify for and can afford, etc.
Buying is obviously the ideal thing, but if you can't afford it I would still think that you would want a place to live when you get married. It might be nice to have it before, this way you can do whatever work you have to do before you move in.

Re: I'm really confused...

If you have a place to live after the wedding (hopefully on a month to month basis) I would wait to buy until after your wedding. I think home prices will continue to drop and if you can wait until after your wedding you will get a better price. You will also be able to use wedding presents towrds a downpayment.

Re: I'm really confused...

Re: I'm really confused...

Re: I'm really confused...