my grandma has a two family house and i live with her because it is so close to where i work. she offered the upstairs apartment to my fiance and i for dirt cheap. the apartment has three bedrooms, two bathrooms, a eat in kitchen, and dining room. she wants like 700 plus utilities...ok dirt cheap i know...my uncle lives up there now and wants to move out, i am not really sure if we should move in. we would have privacy, however the apartment needs sooooooooo much work, the floors cabinets and stove are a mess.....we could save so much money if we move there, but are we like selling our souls to like fixing crap up...fh's parents think we should do it, so do mine....what do you all think i really need advice.
MrsDrinkh20
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Re: ok what do i do
Well im not a huge fan of renting because you are not 'Getting anthing' for the money you are spending to rent..meaning you aren't gaining equity. That being said, if it is cheap enough thta you will be able to save for a house or condo or whatever you would want next i say go for it!! I do think I would try to look for inexpensive(obviously difficult) options to purchse rather than rent though
FutureMrsG
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Re: ok what do i do
I think you should go for it. Invest a little money into fixing it up and then you will be able to save to buy something. It is really hard to save for a house when you are laying out a bunch of money for rent every month- Look at it this way if you rent from your grandmother at least your rent money will be going to you grandmother rather than paying someone else's morgage (which is virtually what FH and I are doing).
Mich2585
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Re: ok what do i do
i know it can be hard to live near family ... but where else are you going to get three bedrooms for that price!?! Mike may be a little jealous of peter's man room ... but other than that I dont think moving in will be a problem! get some sleep ... i hear theres a big storm coming in tomorrow
MikesBride2B
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Re: ok what do i do
Wow, that is seriously a great deal!! If you don't want it I'll totally take it!!
In all seriousness though, if you can't afford to buy a house this is the next best option...cheap enough where you can still have money to put away towards the purchase of a house AND be able to fix it up. Then again, if you and FH are not the sort of people to DIY and fix it then you might not be happy there.
Summertimegal424
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Re: ok what do i do
i think that its a great idea. Its someplace to start.
DonnaPWhite1124
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Re: ok what do i do
I would say rent it. These days you cant get a 3 bedroom for under 1600.
Ideally, I would love to buy a house or something, but thats not in the cards right now. If you can save money for a DP on a house or a condo or whatever, while you're living at your g'mas, then I would say jump on it.
MrsDtoBe09
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Re: ok what do i do
I say rent it, DON'T fix it... save save save while you are there! Put the money you would have spent fixing up the apartment toward a house!
