- 4 years ago
- Wedding: October 2014
I haven’t been on the boards in a while, but I’m in need of advice, and Weddingbee has helped me so much in the past!
Long story short, my fiancé and I are planning to get married in October. It is our dream to buy a house, and we’ve been house hunting (online and in person) for a couple months now. Currently, we both live at home in the suburbs with our parents, but we’re both working full-time, so we’re able to save for the wedding, which we’re paying for ourselves, and a down payment on a house. However, although I have a great job right now, I will need to go back to get my master’s in the future. I’ll continue to work full-time, and I’ll most likely go back part-time, so it’s definitely doable for us.
My fiancé is also planning to go back to school (MBA). He works full-time for his parents who own a very successful business. They have told him countless times that they will pay for him to go back to school, and of course, we were ecstatic about that because we’d be saving tens of thousands of dollars. However, recently, he was talking to his parents, and his mom blatantly told him that they’re not going to pay for him to go back to school because we’re getting married. Honestly, I wasn’t really shocked by this because his parents and I have had a love-hate relationship for the past few years. Our families come from different racial and financial backgrounds, and his parents always expected him to marry within his race. It’s been hard for the past few years, but I now have a great relationship with his extended family, and his mom and I text almost every day. Yet, (I hate to say it, but) his parents are very wishy-washy, and some days, they’re very nice and supportive (giving us advice for the wedding and our future), but other days, they won’t even acknowledge the wedding or our relationship for that matter.
Now, we’re not sure we can afford to move into a house. We both love the idea of a forever home, and we found a great house, halfway between our jobs and our parents, in a great neighborhood and school district (good for resale value and future kids). It’s been on the market for quite some time, but we’ve seen it in person, and we love it. Unfortunately, we definitely won’t be able to move in if we have to save for both of us to go back to school.
We’ve been looking at apartments in our price range on and off, and it’s just not doing it for us. Yes, it’ll only be the 2 of us for a while, but I still love the idea of having our own space with room to grow. Renting feels like a waste of money to me. The money doesn’t go anywhere, and it’s getting increasingly more and more expensive. I’d rather have a mortgage with a fixed payment every month. Of course, if we have to rent, we will, but it’s definitely disheartening, and it’ll be a huge adjustment for us.
However, my fiancé and I have been talking, and he’s contemplating not going back to school. He hates school, and he barely survived undergrad (well, only 6 more weeks until his graduation). He never wanted to go back, but he figured he might as well because his parents offered to pay for it, but honestly, we’re not sure he’d even get in. He has a less-than-admirable GPA (below a 3.0), and I know graduate school is very competitive, especially an MBA. I’m just afraid we’re going to be miserable living in an apartment to save for him to go back to school, and it’s possible he won’t even get in. He has several years of business experience between working for his parents and starting his own business (mildly successful) a couple years ago. It doesn’t really have any potential to grow larger than where it is now, but I definitely think it’s worth noting. However, I’m not sure any of that will compensate for his GPA.
So, should we rent for a few years to save for FI to go back to school, or should we buy a house?
FYI: I’m 24 and FI is 23.