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Stay or go??

qtdimps23 Posted:

Stay or go??

Hey ladies....DH and I are having a hard time deciding if we should stay in our 1 bedroom apartment another year and save or try to buy something now while the market is bad.

What did you guys do?
HelenZ Posted:

Re: Stay or go??

we're in a house already, but we have a unique situation.....we've been here for 2 years.

IMO I'd say this year might be a good year to look since the prices are much better than when we bought 2 yrs ago, but just keep it casual, see if the right property comes up for the right price.
B22 Posted:

Re: Stay or go??

if you always planned on buying a house and have the money.. i say buy...

I'm in an apt and we dont really WANT a house. We would like the extra space but to hbe honest... i like our apt and our neighborhood/

I also live in a 2 bedroom with all utilities included. we only pay about 800.00 so you cant really beat that... I'd be stupid to give that up.

HOWEVER, DH's father is selling his cape in morristown NJ and i would LOOOOOOOOOOOOOOOOVE to buy that house... but we can't afford it right now.

I know in 5 years I'll be kicking myself.
PeteysBride Posted:

Re: Stay or go??

I'd say if you have the money start looking; be cautious of course but definetly look because most mortgages are the same or a lil more than rent in the average place. Better to put money into a home then throwing it away on rent if you can afford it. I wish we had money for a down payment on a gome but we dont right now. Hopefully in a few years.

Dani731 Posted:

Re: Stay or go??

Posted by carolinep24

if you always planned on buying a house and have the money.. i say buy...

I'm in an apt and we dont really WANT a house. We would like the extra space but to hbe honest... i like our apt and our neighborhood/

I also live in a 2 bedroom with all utilities included. we only pay about 800.00 so you cant really beat that... I'd be stupid to give that up.

HOWEVER, DH's father is selling his cape in morristown NJ and i would LOOOOOOOOOOOOOOOOVE to buy that house... but we can't afford it right now.

I know in 5 years I'll be kicking myself.


Where do you live that you are only paying $800 for a 2 bedroom!!!!!????? I am paying way more than that for a one bedroom!!!
B22 Posted:

Re: Stay or go??

Posted by Dani731

Posted by carolinep24

if you always planned on buying a house and have the money.. i say buy...

I'm in an apt and we dont really WANT a house. We would like the extra space but to hbe honest... i like our apt and our neighborhood/

I also live in a 2 bedroom with all utilities included. we only pay about 800.00 so you cant really beat that... I'd be stupid to give that up.

HOWEVER, DH's father is selling his cape in morristown NJ and i would LOOOOOOOOOOOOOOOOVE to buy that house... but we can't afford it right now.

I know in 5 years I'll be kicking myself.


Where do you live that you are only paying $800 for a 2 bedroom!!!!!????? I am paying way more than that for a one bedroom!!!


I live in a neighborhood where you have to be part of IBEW (Electrical union) to live here. (My father is an electrician, along with a bunch of my uncles, and cousins) I have about 20 relatives who live in the same community. Its nice.

The BIG UPSIDE is that heat and utilities are included.
dgirl0114 Posted:

Re: Stay or go??

No moolah so no house for us!! Right now we live in a two room apt.-one room is the kitchen/dining area and one room is living room/bedroom. It's tight but cozy too. Really want to get into a 2 bedroom apt. but hate to leave our friends strapped (they live downstairs). So we don't know what we're going to do-just playing it by ear.

shopaholic07 Posted:

Re: Stay or go??

My advice would be to keep saving and start looking now.....you never know when you might come across a great deal!!
vika111 Posted:

Re: Stay or go??

We were going to have a wedding 3 years ago, but instead bought a house with the money that we'd saved up. So were've been living together for a few years before the wedding.

I definitely suggest saving up to buy something. It feels so good to purchase something together and know that it belongs to you.
thelastresort Posted:

Re: Stay or go??

Start looking now. The market is going to continue to downward spiral for the next year. Save while you look. We are planning on putting our house on the market in the spring and buying something in the fall or the winter. We'll see how it goes.

diva7531 Posted:

Re: Stay or go??

I would say look now and see what comes up.If you find the perfect house, great! If not then wait till next year. Have fun house shopping!

kitty1224 Posted:

Re: Stay or go??

We are starting to look. The prices are low and they are saying it will contnue to keep dropping and why pay more for a house in 3 years. I say start looking

JazzyT Posted:

Re: Stay or go??

We came across a good deal in july 06 and we bought our house. You can start looking you never know you may come across a good deal and just save as you're looking

HelenZ Posted:

Re: Stay or go??

Posted by carolinep24

Posted by Dani731

Posted by carolinep24

if you always planned on buying a house and have the money.. i say buy...

I'm in an apt and we dont really WANT a house. We would like the extra space but to hbe honest... i like our apt and our neighborhood/

I also live in a 2 bedroom with all utilities included. we only pay about 800.00 so you cant really beat that... I'd be stupid to give that up.

HOWEVER, DH's father is selling his cape in morristown NJ and i would LOOOOOOOOOOOOOOOOVE to buy that house... but we can't afford it right now.

I know in 5 years I'll be kicking myself.


Where do you live that you are only paying $800 for a 2 bedroom!!!!!????? I am paying way more than that for a one bedroom!!!


I live in a neighborhood where you have to be part of IBEW (Electrical union) to live here. (My father is an electrician, along with a bunch of my uncles, and cousins) I have about 20 relatives who live in the same community. Its nice.

The BIG UPSIDE is that heat and utilities are included.


my husband is local 3 w/ forest electric.....can I tell you we applied to live in Electchester about 5 years ago- NEVER heard back, not even a note to say they received our application. it worked out anyway, but it would've been nice to live there and save some $$$$ do you have to know someone to get in there?
B22 Posted:

Re: Stay or go??

Posted by HelenZ

Posted by carolinep24

Posted by Dani731

Posted by carolinep24

if you always planned on buying a house and have the money.. i say buy...

I'm in an apt and we dont really WANT a house. We would like the extra space but to hbe honest... i like our apt and our neighborhood/

I also live in a 2 bedroom with all utilities included. we only pay about 800.00 so you cant really beat that... I'd be stupid to give that up.

HOWEVER, DH's father is selling his cape in morristown NJ and i would LOOOOOOOOOOOOOOOOVE to buy that house... but we can't afford it right now.

I know in 5 years I'll be kicking myself.


Where do you live that you are only paying $800 for a 2 bedroom!!!!!????? I am paying way more than that for a one bedroom!!!


I live in a neighborhood where you have to be part of IBEW (Electrical union) to live here. (My father is an electrician, along with a bunch of my uncles, and cousins) I have about 20 relatives who live in the same community. Its nice.

The BIG UPSIDE is that heat and utilities are included.


my husband is local 3 w/ forest electric.....can I tell you we applied to live in Electchester about 5 years ago- NEVER heard back, not even a note to say they received our application. it worked out anyway, but it would've been nice to live there and save some $$$$ do you have to know someone to get in there?


I'm sure my father pulled some strings ...my father has been in the union since 1969 and his father, and a bunch of my uncles... cousins etc etc I was a single mother at the time so I wrote a letter about how I wanted to raise him around family since so many of us lived there. (I also lived tehre as a child)

My grandmother has been living there since they built it. My family is well known (and well populated lol) in the neighborhood.
my UNCLE (aunt's husband) is VERY well known so of course I dropped all of their names..

I'm surprised they never contacted you, especially since your husband is 'one of them'... maybe they never received the app?

would have funny if you lived there too!

Now, I was able to get into Electchester... though my husband can't get into the union for SH*T. lol
B22 Posted:

Re: Stay or go??

Posted by HelenZ

Posted by carolinep24

Posted by Dani731

Posted by carolinep24

if you always planned on buying a house and have the money.. i say buy...

I'm in an apt and we dont really WANT a house. We would like the extra space but to hbe honest... i like our apt and our neighborhood/

I also live in a 2 bedroom with all utilities included. we only pay about 800.00 so you cant really beat that... I'd be stupid to give that up.

HOWEVER, DH's father is selling his cape in morristown NJ and i would LOOOOOOOOOOOOOOOOVE to buy that house... but we can't afford it right now.

I know in 5 years I'll be kicking myself.


Where do you live that you are only paying $800 for a 2 bedroom!!!!!????? I am paying way more than that for a one bedroom!!!


I live in a neighborhood where you have to be part of IBEW (Electrical union) to live here. (My father is an electrician, along with a bunch of my uncles, and cousins) I have about 20 relatives who live in the same community. Its nice.

The BIG UPSIDE is that heat and utilities are included.


my husband is local 3 w/ forest electric.....can I tell you we applied to live in Electchester about 5 years ago- NEVER heard back, not even a note to say they received our application. it worked out anyway, but it would've been nice to live there and save some $$$$ do you have to know someone to get in there?


another thing is it's esier to get a 2 bedroom than a one bedroom b/c there are only 1- 1 bedroom apt per floor in each building... A cousin of mine waited years for his even with the 'name'

there are 4 2-bedrooms... so i know I got mine faster b/c I was asking for a 2 bedroom.
magbride Posted:

Re: Stay or go??

FH bought our house 2 years ago too. I personally would buy now if you can swing it. It's a rare time right now when prices and interest rates are both coming down.

DrWho Posted:

Re: Stay or go??

See what kind of mortgage you can get, that'll tell you whether or not you can buy now. It's unlikely that the poor excuse for a rate cut the Fed did yesterday will be the last one, and home prices are going to come down a bit more, so you have some time. None of that will matter if you can't borrow enough though.

06NovBride Posted:

Re: Stay or go??

We decided that we wanted to have kids shortly after getting married. We knew we would not be able to afford to buy anything for a couple of years so we decided to pay more money and rent a 2 bedroom apt. Yea we pay a lot of money towards rent, but now that we're expecting it's the perfect place for us. Instead of being able to buy something in 5 years we might end up renting for longer than that, but that was the decision we had to make.

PreshusSmurf Posted:

Re: Stay or go??

we are in the same position as you guys .... george wants to wait a few more months while we save a bit more for a downpayment/expenses .... and since he's the sensible one, i've agreed.

so we'll probably start looking in march-ish.

we've figured out what we think we can afford in monthly payments (mortgage + taxes) and are going to try living as though that extra money is spent (while putting it into savings at the same time). its a tip i learned from watching a suze orman show a while ago.

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