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What would you do?

februarybride Posted:

What would you do?

DH and I have a townhouse now. 2 bedrooms. More than enough room for us right now...but once we have a child I think it will start to get small for us.

There is a brand new construction going to be ready in late spring. It's a 2 family. 1 or 2 bedroom apt. Main house has 4 bedrooms, masterbath (with shower - no tub). Attic storage. I could keep 1 room in the basement or give the apt another bedroom (making it a 2 bedroom). We are hoping to rent it to a family member so that's why we were thinking just giving it to the apt - to make it more 'liveable'.

Now - buying this house will exhaust all of our savings. It's significantly more $ than what we are paying now - but will have $ left over. In new construction there is no window treatment, no fence, lots of odds and ends so I doubt we'll be saving any $ to put in the bank for a while!!

Our fear is that we could do it now or we could wait till we have a little more saved..but then the prices will be more.

What would you do??
Jmg11 Posted:

Re: What would you do?


If you are planning to stay in the new place for many years - then it is worth it to buy it now. Even if prices drop - it won't matter as long as you are still living there. It only matter when you are ready to sell. (plus interest rates are still really low)

how long have you been living in your current place?
februarybride Posted:

Re: What would you do?

It will be 3 yrs in the spring.

Jmg11 Posted:

Re: What would you do?

oh Ok - then you are good (for tax purposes)

anjerandunder Posted:

Re: What would you do?

i say go for it..you'll be there long enough to know that you made a wise choice..good luck

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