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I don't know what to do
So H and I live in my stepdad's mom's house (my grandmother.) We have been there right at a year now. Anyways my parents have had some issues and looks like they will now be splitting up. H and I weren't planning on moving but it doesn't look like this will be a peaceful split. Our options are staying and continue living in the house knowing we will be walked over and taken advantage of by them or to move.
We put about $5,000 into the house before we moved in and we knew we would never get that money back when we moved which was fine with us because it was rent free (minus end of year taxes) and we figured we would be there 5 years or so. We just purchased me a car and just got health insurance. We aren't sure we could afford to go purchase a house. Apartments are out of the question since H has a boat and a trailer. Once H got a better job we might could afford this but that could still be a few months.
So do we stay and suck it up OR go ahead and move?
We are weighing the options and their are pros and cons no matter which way we go. UGH this is seriously annoying and pretty much ruined my day. I honestly just want to cry for so many reasons.
Re: I don't know what to do
Well, that kind of sucks. I guess 2 options came to mind, if you really have to move:
1) Apartment & put the boat in storage
2) Buy a house with a small down payment.
When we bought our house, we only put down 3% (the minimum for an FHA loan). It was only 9 months after we graduated, but after putting our lives on hold for 8 years of school we didn't want to wait another 8 years to save to buy a house with a bigger downpayment. Downsides: a little bit higher interest rate, and paying PMI (private mortgage insurace) every month until we own 20% if the value of our house. But it got us into a house like we wanted, and we were able to take advantage of the buyer's market since we had nothing to sell.
But I wouldn't buy a house if you aren't really, really sure you are going to be staying in the area for at least 5 years or if you can't afford a house that has room for kids (since I know you want kids sooner rather than later).
Sorry you're going through this!
Personally, I wouldn't want to stay in the house if it means manipulation and feeling walked all over. That being said, I would also be really hesitant to go out and buy a house without thinking it through. I think the best option would be to get an inexpensive apartment (and store the boat at someone's house or pay to store it somewhere else) and save up for a house. It would also give you some time to look around and not feel rushed.