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buying a house...

is so stressful! I think DH and I might hurt each other if this has to go on much longer....

Little back story.. I will graduate in Dec. with my RN, we were going to move out of Michigan, the economy here sucks and I HATE winter, so why not experience something different... DH agreed that once I was done we could try it to see how we like it. Well DH got a nice raise, so therefore now he has a "good" job... Now we are looking to move out of our apartment and buy a house. I didn't want to stay here and had my heart set on moving out of state, well I feel like buying a house means I have to be here forever, I know it doesn't but it is harder to pack up and move out of state when you have a house to sell... sorry mini vent over! 

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Re: buying a house...

  • I would definitely not buy in your situation. There is nothing wrong with renting and unless you're going to stay in the house for at least 5 years, you will likely lose money. It's expensive to buy and sell and you will certainly be tied to that area for longer. Is he set on staying now?
  • Colin is going to go back to school for his master's so for sure it's another 3 years here... Renting here is astronomical compared to the price of a decent house in the area. For example to rent a 1000 sq ft house it's about 1500 a month where if you were to buy the same house it would be about $700/month.  We are moving about 30 miles east of where we are now to make it closer to his new work location, the hospital I work at is in between the 2 cities so it doesn't matter to me where we go.  So financially it is better for us to move closer to his job and buy then to stay put and continue renting.
    image
  • That makes more sense then. I thought you were still talking about moving out of state soon. Also, keep in mind that owning always has lots of additional expenses.
  • I'm all for renting - but with those prices sounds like you guys are making the smart decision - as long as houses sell ok once you're ready to leave.  Good luck with the process!!
  • I would seriously consider NOT buying right now Misty. Especially if you don't want to stay for several years. It's way too big of a committment not just money-wise but emotionally too. Once you go through with the purchase you're not going to want to do it again for a long time, so you'll effectively be stuck. Plus if you're planning on moving in a short time you'll need to pay CLOSE close attention to re-sale in your area. I have a friend who purchased a condo with a plan of staying for about 6 months and then moving out of state. Well they ended up not being able to sell their condo and have been there for almost 5 years now...and they keep trying to put it on the market.

    Anyway, point being, unless you're planning on staying for  AT LEAST 5 years, I would nix the buying plan right now and just continue to rent until you have a more firm idea of where you'd like to go.

  • imageMistym05:
    Colin is going to go back to school for his master's so for sure it's another 3 years here... Renting here is astronomical compared to the price of a decent house in the area. For example to rent a 1000 sq ft house it's about 1500 a month where if you were to buy the same house it would be about $700/month.  We are moving about 30 miles east of where we are now to make it closer to his new work location, the hospital I work at is in between the 2 cities so it doesn't matter to me where we go.  So financially it is better for us to move closer to his job and buy then to stay put and continue renting.

    Oops didn't see this before I responded. If you're planning on staying for at least three years than it may be a better option. Keep in mind that you'll probably still be spending $1000/month with the additional expenses of home ownership.

  • I agree, there are a ton of hidden expenses in home ownership, not to mention if something (*heaven forbid*) goes wrong.  I can understand how you feel though considering the cost.  My bff did the same thing in NC a little less than 3yr ago.  They are now renting a condo in DC and still paying on their house in NC until they can sell it.

    Just take some time to find out what seems right for the both of you.  But a house will tie you to that area a lot more.  Good luck!!!

  • I know how you feel. Right before our wedding my FIL told us he was going to help us find a house. DH and I have always mused the idea of moving out of state somewhere warmer. We hate the winters here. I always thought the time to do it would be before a house and kids, less things tying you down. Well with FIL helping us out with a house we couldn't really pass that up. Don't get me wrong, I love our house, I love the city we live in, and I love that we are so close to family. But after we bought the house I was a little sad because I knew it meant we will probably never relocate, so I am stuck with cold winters and snow unless we become millionaires and can afford to become snow birds.
    ~Sarah & Jason~June 12th, 2009~Siesta Key, FL~
    Planning Bio Married Bio *Work In Progress*
    Formerly Knottie Soon2beMrs.G_09
    Anniversary
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