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WWYD? House vs. apartment
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Ambersmom
Straight up nasty
Member since 5/05 7740 total posts
Name:
Sharon
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WWYD? House vs. apartment
My current apartment is georgeous, however I lucked out when renting and came in under a teaser rate. Well, come to find out that if we want to renew, the rent is going to jump exponentially (far above my means). I'm torn as to what to do. I could rent somewhere else, but that would mean moving my stuff and dealing w/a landlord, potentially having to move again, keeping my storage facility, etc. I really feel it's important to settle in to a community, as Amber will be starting school within a year.
Should I start looking for an inexpensive house or would you continue to rent? I feel like I'm throwing my money away and not really building towards anything right now
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Posted 6/16/08 11:32 AM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: WWYD? House vs. apartment
Posted by Ambersmom
I feel like I'm throwing my money away and not really building towards anything right now
You aren't throwing money away. You are paying for a place to live. Don't fall into the "renting = throwing money away" trap.
When you own, you pay property taxes, mortgage interest, and homeowners insurance. You can very easily say you will throw MORE money away paying those larger ticket items than renting.
Don't bother buying right now unless you can say for sure you will live there for at least five years. It sounds like you are in a "transition mode" right now with your life and I definitely wouldn't buy in that situation. At least not yet.
I would continue to rent. Good luck! 
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| Posted 6/16/08 11:35 AM |
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CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
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Re: WWYD? House vs. apartment
That depends... if you can afford a house (mortgage, taxes, closing costs, etc) and know the area you want to live in, then go for it.
Will the apartment you live in now work with you at all on the price?
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| Posted 6/16/08 11:38 AM |
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NewlyMrs
Laugh-Live-Love LIFE!
Member since 10/06 14432 total posts
Name:
Jennifer
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Re: WWYD? House vs. apartment
Posted by CaMacho
That depends... if you can afford a house (mortgage, taxes, closing costs, etc) and know the area you want to live in, then go for it.
Will the apartment you live in now work with you at all on the price?
ITA. If you love your place, can you swing it. cause if you move you have to factor in moving expenses, new service hook-ups, agrivation, etc.
If you can afford a house, then absolutaley go for it, but it's an investment, don't just buy something you can afford. buy something that will increase in value and has resale potential.
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| Posted 6/16/08 12:35 PM |
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