SO FH and I have a house but dont live there. We were planning on moving in when we get married but now my dad has a house that he said he would rent to us for really cheap and he has completely renovated the whole house and its going to be gorgeous. Fh and I are so indecisive we dont know if we should stay home and save money or move into the house and keep ours rented since we have a really good tenant. ahhh IDK
I know we have no clue what to do. If we move into our house we are going to be paying more then if we rented the house from my Dad plus my house is alot smaller then the house I would rent
Posted by HEATHERLYNNA
Hmmmmm I feel like as tempting as the cheap rental is-- you are still paying rent when you own your home, ya know? Kind of like throwing your money away. Unless it is REALLY cheap, then it might be worth it. My other concern would be what would happen if your current tenant decided to leave suddenly or lost his job and couldn't pay? Ugh so much to think about!
FH and I own a home, but rent it out now too!! We plan on moving in when we get married as well. I actually would love to sell it and make money on it, but with this economy now-- not looking so good.
Posted by HEATHERLYNNA
Hmmmmm I feel like as tempting as the cheap rental is-- you are still paying rent when you own your home, ya know? Kind of like throwing your money away. Unless it is REALLY cheap, then it might be worth it. My other concern would be what would happen if your current tenant decided to leave suddenly or lost his job and couldn't pay? Ugh so much to think about!
FH and I own a home, but rent it out now too!! We plan on moving in when we get married as well. I actually would love to sell it and make money on it, but with this economy now-- not looking so good.
Posted by JennylovesStephen
Posted by HEATHERLYNNA
Hmmmmm I feel like as tempting as the cheap rental is-- you are still paying rent when you own your home, ya know? Kind of like throwing your money away. Unless it is REALLY cheap, then it might be worth it. My other concern would be what would happen if your current tenant decided to leave suddenly or lost his job and couldn't pay? Ugh so much to think about!
FH and I own a home, but rent it out now too!! We plan on moving in when we get married as well. I actually would love to sell it and make money on it, but with this economy now-- not looking so good.
The same here we would love to sell it and make money but we have to wait fot the market to turn around.
It would be 1200 a month for a 3 bedroom house plus my dad said if we ever got screwed by our tenant and had to move out then we could he wouldnt care. We also pay like 600 a month towards our mortgage but we are refinancing and hoping we will have to pay less into that. In the end we still would have our house rented and we would have a bigger house for cheaper
Posted by HEATHERLYNNA
Posted by JennylovesStephen
Posted by HEATHERLYNNA
Hmmmmm I feel like as tempting as the cheap rental is-- you are still paying rent when you own your home, ya know? Kind of like throwing your money away. Unless it is REALLY cheap, then it might be worth it. My other concern would be what would happen if your current tenant decided to leave suddenly or lost his job and couldn't pay? Ugh so much to think about!
FH and I own a home, but rent it out now too!! We plan on moving in when we get married as well. I actually would love to sell it and make money on it, but with this economy now-- not looking so good.
The same here we would love to sell it and make money but we have to wait fot the market to turn around.
It would be 1200 a month for a 3 bedroom house plus my dad said if we ever got screwed by our tenant and had to move out then we could he wouldnt care. We also pay like 600 a month towards our mortgage but we are refinancing and hoping we will have to pay less into that. In the end we still would have our house rented and we would have a bigger house for cheaper
Ugh!! Such a hard decision!!! So basically you would be paying $1800 if the amount that you pay now into your house doesn't go down. That is $1800 that could be going to the house you own though. I think that either way would work out, but it sounds like you really like the idea of the rental! Also, if that amount is better for you guys, then it might be smart for a little while!
Posted by JennylovesStephen
Posted by HEATHERLYNNA
Posted by JennylovesStephen
Posted by HEATHERLYNNA
Hmmmmm I feel like as tempting as the cheap rental is-- you are still paying rent when you own your home, ya know? Kind of like throwing your money away. Unless it is REALLY cheap, then it might be worth it. My other concern would be what would happen if your current tenant decided to leave suddenly or lost his job and couldn't pay? Ugh so much to think about!
FH and I own a home, but rent it out now too!! We plan on moving in when we get married as well. I actually would love to sell it and make money on it, but with this economy now-- not looking so good.
The same here we would love to sell it and make money but we have to wait fot the market to turn around.
It would be 1200 a month for a 3 bedroom house plus my dad said if we ever got screwed by our tenant and had to move out then we could he wouldnt care. We also pay like 600 a month towards our mortgage but we are refinancing and hoping we will have to pay less into that. In the end we still would have our house rented and we would have a bigger house for cheaper
Ugh!! Such a hard decision!!! So basically you would be paying $1800 if the amount that you pay now into your house doesn't go down. That is $1800 that could be going to the house you own though. I think that either way would work out, but it sounds like you really like the idea of the rental! Also, if that amount is better for you guys, then it might be smart for a little while!
I feel the same way so does FH like if we just move in our house we know it would be payed and we wouldnt have to worry but I love the idea of moving into the other house because its so much bigger and everything is brand new. I would also be helping out my dad b/c he would have some1 he can trust to pay him in it yah know. So confusing there are some good points and some bad. If Fh and I didnt own a house we wouldnt even be thinking about it we would just move into it. We are really going to have to sit down and think about number s and stuff
Yes ITA Thanks Heather for some input. I think I just get overly excited to move out but then again I have never been on my own I have always lived home LOL
Posted by JennylovesStephen
Yes ITA Thanks Heather for some input. I think I just get overly excited to move out but then again I have never been on my own I have always lived home LOL
Do what makes the most financial sense for you. Why pay your mortgage plus twice that to rent a house when you own one? Unless your tenant is paying you the $1800 or at least the $1200 then it doesn't seem to benefit you financially. It might be nice to live in a nicer and bigger house, but why waste money that way? Wouldn't you rather pocket that extra money and put it towards owning a bigger newer home and not just renting one?
Im in a similar situation too but I would do whatever is better to save more money. Ultimately if I understand what your saying is that your trying to save money. If you have a tenant at your house just to pay your mortgage and then you have to make up the difference there and still pay rent at your dad's house you are just beating around the bush and eventually in the end I feel like it will catch up with you. Besides the fact that it is your house and I would want to start the rest of your lives together in the house that you both have worked so hard for. Hope you figure it out soon!!!!!!
