Friday, July 22, 2011

Looking for our next home

Recently Brandy and I have been talking more and more about our next place. We currently rent an in-law apartment from my parents. The space has been great for us while living on my income with Brandy in school, rent is cheap and my parents have been able to help us out in many ways. We are contemplating moving out soon and have waver back and forth on our options. We see several options:

1)We can continue to rent the space until we've put a good dent in college loans and saved up a downpayment on a house. - Looks great on paper but it would take another two years (not sure our, nor my parents' patience is up for that!)

2) We could rent an apartment. - A decent apartment in our area is $900+ a month which is almost a mortgage payment but doesn't require the downpayment.

3) We could try to get mortgage for a small starter house. - Not ideal space but avoidable and would be an asset to resell later in order to purchase our dream home. 

It's hard to make big financial decisions with so many variables. Some things that come to mind are: the housing market is down, I wish we could take advantage of it - or - an apartment seems like counter productive - or - if we bought a starter house, we could get stuck with it later... Ahh so many things to think about. I keep telling Brandy and myself that we shouldn't think or stress over it until she has reliable employment as a dental hygienist, but it is difficult to maintain that mentality. 

1 comment:

  1. I am glad to see that you are being so wise about making this decision. Not that I would expect any less from you guys. Anyway, I will keep this thought in my prayers, pray that God will give you the wisdom and opportunity to do the right thing.