Buying A Home
SmrBrd2012
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
compromising in a HCOL area
Did anyone have to seriously compromise on what they wanted in their first property? H and I really wanted at least 3 bedrooms (because we're planning on TTC as soon as we buy a place), a yard, and NOT a condo (fees are outrageous where we are).
However, we just don't have the funds for what we want unless we live in a run down area or 2+ hour commute from where we work. It seems like we are either going to have to wait 2-3+ years to save up a good down payment for the more pricey properties, hope for a change in salary, OR we will have to compromise with a 2 bedroom condo. I just feel like we won't be able to put as much equity as we'd like to into the condo while we live there due to the $300-400 a month HOA fees.
Thoughts?
However, we just don't have the funds for what we want unless we live in a run down area or 2+ hour commute from where we work. It seems like we are either going to have to wait 2-3+ years to save up a good down payment for the more pricey properties, hope for a change in salary, OR we will have to compromise with a 2 bedroom condo. I just feel like we won't be able to put as much equity as we'd like to into the condo while we live there due to the $300-400 a month HOA fees.
Thoughts?
Re: compromising in a HCOL area
A little off topic, but H is from Boston and he moved in with me in Bristol County! I used to go to school on Newbury Street and used to commute by both driving and taking the T.
But I don't live in my own home per say. I wanted to move to Boston to be closer to the school, but with the high costs of Beantown, there was no way I could afford it so I lived at home. If it wasnt for the fact I work in Rhode Island and already commute 45 to get to work, I would go back to school in a heartbeat.
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Ha! I wish that were an option. Getting a 3br rental would make it so we wouldn't be able to save at all. Rent prices are steep compared to mortgages around where I live. We'll most likely end up waiting, it seems. Just trying to get a feel for everything.
Yeah like I said before we had to compromise. But compromising is not always that bad. t is just trying to figure out what is more important. For me it was a good school system, a safe neighborhood is more important than commuting. Plus we wont be commuting for long only a year.
Plus we figured we can make improvements on our home that will help sell later. Adding a fence, adding a pellet stove, adding a deck. Things like that.
@smbenevides1989: I use to be stationed in Newport. I love it their!