Yes it's a buyers market right now. But FH and i don't really have the funds to buy (and i don't wanna do that whole putting 3% down bit that you can do now. Even with the low interest it still doesn't make sense to me)
so... we are thinking about maybe renting for now and then buying when we have more $. Guess itmakes sense too cuz fh works in farmingdale and i'm in the city but i don't plan on staying here for a long long time.
Also, are there any good website to look for apts to rent? I'm thinking about the malverne area.
LadyDuda81509
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Re: renting vs. buying
Thats what we are doing!! I would have loved to have bought a house right off the bat but i wanna put a good chunk down! prob try to buy something when our lease is up a year from now!!!
we found an apt in massapequa in a cute little complex...fm me if you want more details!
good luck searching!
asg450
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Re: renting vs. buying
We are planning to do the same thing; my dad keeps telling me buy instead of rent but I don't want to be penny pinching every month to pay our mortgage.
FH's job isn't exactly stable right now, so we cannot make such a commitment without both of us having stable jobs.
I usually look at Yahoo's real estate section.
DnT2010
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Re: renting vs. buying
mlsli.com has a section for renters. hth!
alli3131
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Re: renting vs. buying
I found the place im in now on craigslist. It was through an agent so I knew it was legit. We found the last place on craigslist too and that was directly through the owner.....still legit but we had horrible neighbors and our landlord refused to deal with it.
msabla1
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Re: renting vs. buying
dh has a co-op for sale in Mineola (rent with option to buy) fm me MLS#
FuTuRe MrS MaZz
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Re: renting vs. buying
we found our rental apt on craigslist... just be aware you're going to look through lots of crappy apts before you get to the good ones... as nice as pics may be, they are mostly all lies... lol so dont get your hopes up when you see a nice one in pics...
next month, we will have rented for 1 yr... its alot of $$ when you add it all up... but if you dont have the down payment, you dont have it.... we're waiting until after the wedding to buy... but have started looking now to get an idea of areas/taxes etc
MarjorieFrank
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Re: renting vs. buying
I have been saving every penny since I was 16 so we are hoping to have enough $$ for a down payment next year. We are trying to stay away from renting because we feel like we won't be able to accumulate savings for a house if we're paying rent each month. I wish I could move out of New York... life would be much easier for all of us! Good Luck
LadyDuda81509
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Re: renting vs. buying
Posted by MarjorieFrank
I have been saving every penny since I was 16 so we are hoping to have enough $$ for a down payment next year. We are trying to stay away from renting because we feel like we won't be able to accumulate savings for a house if we're paying rent each month. I wish I could move out of New York... life would be much easier for all of us! Good Luck
Moving out of new york seems to be the way to go!! people i know have brand new huge house built from scratch!! meanwhile if they were in new york they would have bought a tiny house that needs tons of work!
italgal
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Re: renting vs. buying
Buy something small as an investment. Don't plan on making it your home. Get some equity build up, rent it out, than get what you want.You really can't go wrong with real estate.The times are very good for buying right now. Also, it might be very hard in the future to get a mortgage. The regulations could get to be a nightmare. FH & I own 3 houses. One I bought B-4 I met him. One he bought B-4 he met me & one we bought together. We rent the other two. If you rent you'll be paying someone else's mortgage. Why not just pay your own motrgage. My uncle bought houses for years, never planned on living in any one of them. Now he has a manison in Muttontown because of all the investing he did with real estate. & he was never a rich man. Start while you are young,live well in years to come.
skinny237
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Re: renting vs. buying
The interest rates are SOOOO low now you'll save several hundred dollars a month on your mortgage if you do buy. We're putting 3.5% down and our mortgage payment is still reasonable. Maybe you can check out some of the mortgage calculators to see how much you'd be paying? You can even change the interest rate so you can see what you'd pay if the interest rate jumps from 5% to 8%....it's a big difference!
Ivansgirl
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Re: renting vs. buying
I used craigs_list and apartments_dot_com. They worked well for me watch out for brockers fees. It is usually one months rent. We are renting now and it is perfect for us. As much as we want a house neither one of us i home enough to cut the lawn and all that other maintence. hope this helps.
MrsCastanedain09
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Re: renting vs. buying
We decided to rent because we weren't ready to be suburbanites yet. We live in an amazing high rise with views of Manhattan and FH has an 8 minute commute- for us it makes sense and we're really happy. Our rent is really high....but it's the price you pay for the lifestyle we want right now. We could have bought but it would not have been the type of house we want....we're still saving and maybe when our lease is up next year...though I will have a really hard time moving out!
In the end, do what is best for you and FH. There are many different recipes for success and happiness!
Good luck to you!
mrsdraskin2009
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Re: renting vs. buying
We rent.
We love it.
We will look to buy after the wedding
MrsCM
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Re: renting vs. buying
if we could buy now (as opposed to 2 years ago) we would! but we'll probably soon rent out our house so we can still invest in the low market. we don't want to take such a loss on our house but we still want to invest in a bigger house while it's such a good market to buy in!
angel1219eyez
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Re: renting vs. buying
FH and I are doing the same thing and are prob gunna move into an apt march 1st and a lot of places are telling me thats to far in advance so they cant tell me if anything is gunna be available i hate it! i would say look on craigslist if you want one in sumones house they have a lot there...when i was looking into a complex we kinda just drove around and wrote down the names of the ones we maybe want to go to and we are gunna call in a couple months
MrsC2010
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Re: renting vs. buying
we were also thinking about buying now since its a good market and they are doing the tax credit thingy but it was just too much right now with the stuff we have going on and saving for a wedding, so we decided to rent for another year or so and hten after the wedding we will try to buy a house.
cavvento
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Re: renting vs. buying
Have you thought about buying a co-op; that's what I did? The prices and taxes are much lower than buying a house, and you'll end up spending the same in mortgage and maintanance as rent would be. PLUS, I get back SERIOUS MONEY each year on my taxes, whereas I'd pay each year if I rented! Rent really is like throwing your money away if you can save up money for a modest down payment on a modest co-op. Plus, all the perks of renting, like someone else shovels the snow and rakes the leaves and cleans the gutters!
Check out mlsli.com for some ideas.
coldasice217
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Re: renting vs. buying
We still haven't fully decided what we're going to do yet, but time is running out. I feel we're going to end up renting, for the sole reason that we're snobs. Pure and simple, snobbery will keep us homeless. We want what we want, and we're not going to compromise and spend our life's savings on something that's 'almost' or 'not quite' what we want. It also doesn't help that the areas we want to stay in are $$$.
Sometimes it's really frustrating, and it causes a lot of fights, because people would kill to be in the position we're in to put down the percentage we are able to put down, but we are just unwilling to settle. Well, FH moreso than I am, because he also wants a house with 'character', whereas I grew up in a ranch, and would be perfectly content with one.
