Home buying has gone out the window

azoodie Posted: Jun 27, 2004 11:01 PM

Home buying has gone out the window

I'm so depressed...

I've finally come to the conclusion that we are not buying a condo...

we can't afford it and i'm going to go to grad school and we'll need the money...

IS RENTING THE MOST AWFUL THING????? Please someone make me feel better :O/

Boop2704 Posted: Jun 28, 2004 12:46 AM

Re: Home buying has gone out the window

I'm not going to lie to you. Renting can suck and for us right now it does. But you have to live within your means and right now this is all we can afford. Just remember that one day you will have everything you want. DH and I always say that where we live now is the worst we'll ever be. Things can only get better from here.

janwinterbridejoy Posted: Jun 28, 2004 07:04 AM

Re: Home buying has gone out the window

i dont think renting is bad if thats all you can afford not. why extend yourself beyond the means of what you can afford. you have plenty of time to own something of your own i think after your done with school and more settled it would be so much better because you wouldnt have to struggle

fallinlove04 Posted: Jun 28, 2004 07:33 AM

Re: Home buying has gone out the window

my fi and i battled with this as well. we finally decided that we would struggle for the year and buy a house. i am going to be finishing my masters and only working part time. we both decided that we would spend at least 20,000 on rent in a place that we would want to live and just couldn't see doing it. student loans will cover my graduate school costs, and we will struggle, but we will be homeowners. to us that was the most important thing. we have the downpayment now, so we are going to do it. good luck to you.

kittyke Posted: Jun 28, 2004 07:36 AM

Re: Home buying has gone out the window

Have you thought about a co-op they are definately less expensive and will give you a head start in a few years for a downpayment on a house. Me and my husband bought a co-op 3 years ago and just sold and had a nice downpayment for a house.

Niecey Posted: Jun 28, 2004 09:02 AM

Re: Home buying has gone out the window

Renting is not awful and I don't why everyone is always into buying as soon as possible. I enjoyed my renting days - even miss it at times. There are so many days when I miss my super!!!

Actually, DH and I both rented for over 7 years. We always rented modest apartments (even though we could have easily afforded more) and lived within our means. We also did go nuts into crazy decorating or buying the tons of fancy furnishings. Renting is what allowed us to save the money we needed to buy the house we have today!

kdelace Posted: Jun 28, 2004 10:13 AM

Re: Home buying has gone out the window

renting isnt the best thing to do but hey we have to do it so Im not knocking it! We paid for our wedding ourselves and just dont have the money for a down payment yet. were paying off bills, living in a decent apt and we are 1/2 block fromthebeach. Since were both teachers, thats a plus! we are not buying anything to decorate, were saving for the house. We have a cute set up but nothing fancy.

We both would love a house but dont want to financially strap ourselves the first year of marriage. im a worrier like that and have always lived with a family that lived check to check. I cant do that to myself right now. im enjoying married life and saving money...

danigirl0 Posted: Jun 28, 2004 10:18 AM

Re: Home buying has gone out the window

renting is not terrible! i would have tayed in my apartment for years and saved up for a ouse if we had not had a problem there with the other tenant. i loved it. and it was less pressure. good luck, and honestly, all will come in due time.

ChristineC68 Posted: Jun 28, 2004 10:49 AM

Re: Home buying has gone out the window

There is nothing wrong with renting. I think it's much worse to get into a financial situation that you can't afford just because people say you should buy

Rent + untilities are usually lower then mortgage + taxes + insurance + utilities.

I have seen so many people that become house poor because they run and buy a house because they think they should and then spend all their time and money maintaining the property.

sept20yay Posted: Jun 28, 2004 01:17 PM

Re: Home buying has gone out the window

Renting is not the worst thing. Just use it to your advantage. Save up while you are renting. Don't rent a crazy apartment. Rent an apartment that will allow you to put some money aside each month.

halloweenbride04 Posted: Jun 28, 2004 03:04 PM

Re: Home buying has gone out the window

Posted by sept20yay

Renting is not the worst thing. Just use it to your advantage. Save up while you are renting. Don't rent a crazy apartment. Rent an apartment that will allow you to put some money aside each month.

TOTALLY agreed! I felt like you do about a month ago when FH and I decided to take our binder off of a brand new townhouse. We made the decision because it was in our best interest and I now realize that when the time is right we'll own something, but for now we rent!

swags1016 Posted: Jun 28, 2004 03:17 PM

Re: Home buying has gone out the window

Renting will allow you to enjoy your first years of marriage!! You will not have to worry about working in the yard, upkeep of the house etc. I agree with Sept, renting will allow you to save some money and buy a house soon enough. Adding the cost of a mortage and other things when you are not financially ready, will only cause a lot of stress and aggravation until you are ready. It is not worth it, enjoy the freedom of renting and save and you will own a home soon enough!!

jessnjoey Posted: Jun 28, 2004 03:29 PM

Re: Home buying has gone out the window

I agree, DH and I rented for three years together...both before and after we were married...(still renting until we close)

During that time we had alot of fun..going out fine dining, vacations and i even went back for my second masters.
I wouldn't change it at all. When you both are ready you can look into buying. Don't get upset...enjoy your renting time!!!!

azoodie Posted: Jun 28, 2004 03:57 PM

Re: Home buying has gone out the window

it's so good to hear all these different points of views...

you're all right though. it's just that i had my hopes set on owning from the get go. but right after we're married i'll be starting my doctorate in september and the stipend is only like 23,000. i thought i was going to be able to do that and work per diem for extra cash, but i found out that i'll be spending basically all my time doing research.

i was just putting way too much pressure on myself by trying to buy. i work full time, part time on the weekends and am doing my masters at night (not to mention planning and paying for the entire wedding!).

i talked to my fh about the whole renting thing and we were figuring out finance stuff and he said as long as we're saving then it's not a waste to him. he was actually really excited by the end of our phone conversation, which made me really happy

finally making the decision to rent has really taken a lot of pressure off of both of our shoulders...

thanks for all the great advice and reassurance