(Closed) Own a house or renting?

posted 5 years ago in TTC
  • poll: I am ttc and I
    own a house/condo : (37 votes)
    55 %
    am currently renting and will continue renting : (20 votes)
    30 %
    am currently renting but plan on buying soon if we get pregnant : (10 votes)
    15 %
  • Post # 3
    Member
    2674 posts
    Sugar bee
    • Wedding: July 2012 - Catholic Church

    We’re renting a 1 bedroom apartment and will switch to a 2 bedroom in the same building if I’m KU before our lease is up.

    Post # 4
    Member
    2622 posts
    Sugar bee
    • Wedding: November 1999

    We currently rent for many reasons. We hope to be moving soon to another state and will be buying then. I am currently 5 weeks along.

    We are not buying, however, just because we are pregnant. It just makes sense for other reasons.  I have no problem renting and having a baby. I think the decision to rent/buy should make sense financially first and foremost.

    Post # 5
    Hostess
    11167 posts
    Sugar Beekeeper

    We currently rent and plan on continuing to rent for the next couple of years. We are planning to TTC at the end of the year but aren’t ready to settle down to a location and buy just yet.

    We have our sites on a specific exclusive area to purchase (about 10 miles from current location) and so once our child is a little older we will likely end up buying. Having a baby and renting isn’t really a big deal to us…it is when the child is old enough to develop friendships and attend school that it will become a priority.

    Post # 6
    Member
    7771 posts
    Bumble Beekeeper
    • Wedding: July 2010

    We rent and will be for a while (first baby on the way).  I am actually ok with renting.  We are not really settled, Darling Husband got laid off recently, so he might be returning to school.  I feel okay about all of it and am kind of glad we didn’t take a buying plunge.  We have a 1 bed, 765 sf where we will probably be for the first few months, up to just shy of the first year with baby.  Then, we will look for a small house to rent or a two flat with a yard (2 bedroom).  Darling Husband used to work all the way across town, and now works all the way on the other side- so since life is still transition, I am glad we have the opportunity to move because being close to work is important to us.

    Post # 7
    Member
    4464 posts
    Honey bee
    • Wedding: February 2012

    My husband and I are probably going to start TTC this summer. We’ll see if we need to put it off, but for now that is our tentative plan. We are renting right now and will continue to rent throughout the pregnancy. The summer of 2014 we are moving to a different state and will rent an apartment once we get there. Then after settling down in that state we will consider buying a house. It is not on our radar right now, especially since we are planning on moving out of state so soon after having a baby (or while being pregnant if our plans get postponed a little or we don’t get pregnant right in our specific time frame). We are also not even sure at this point where we’re moving to. We know which state we were planning on moving to, but there may be a business opportunity for my husband in another state, so if it moves forward then our moving plans would also end up changing completely!

    Post # 9
    Member
    2622 posts
    Sugar bee
    • Wedding: November 1999

    @arborlon:  General rule of thumb is if you cant live there for 7 years, youll lose money on buying a house. (assuming you resell it vs keep it)

    Of course there are exceptions and if you are a real estate investor and know how to model cash flow and returns and predict the market you can beat the “system”, but sounds like that doesnt fit your goals. 

    If you think you will buy in 5-6 years no matter what you do now, then I would not buy. (as a general rule of thumb)

    Post # 11
    Member
    2674 posts
    Sugar bee
    • Wedding: July 2012 - Catholic Church

    @arborlon:  Ours is yearly and ends in July so we plan to either renew or assess our finances for $150 extra/month for a baby + $150extra a month for a 2 bedroom and however much OSAP payments will be by then. Is it too late for you to renew since you aren’t TTC for a year still?

    Post # 13
    Member
    2674 posts
    Sugar bee
    • Wedding: July 2012 - Catholic Church

    @arborlon:  Ah, that makes sense. I think that raising kids, especially small children, in an apartment (or a rented house) is fine. Two sets of my cousins have been raised in apartments and they’re fine. It’s just a different lifestyle than country living. Darling Husband and I are TTC now and planning to live in this apartment or a 2 bedroom for the next 3-5 years and then we plan to buy a hobby farm back home. We want to have our own cows and chickens and we’d like to have a place of our own to keep my horse instead of boarding her. I think we’re in very similar situations. We also have the option of going month-to-month but probably won’t choose to do that, at least not at this point in time.

    Post # 14
    Member
    1011 posts
    Bumble bee
    • Wedding: November 1999

    Not TTC, but we do rent, and will continue to rent if I end up pregnant for any reason. That’s one reason why I insisted on a 2 bedroom place, just in case. Plus I like having more room. 🙂

    Post # 15
    Member
    12248 posts
    Sugar Beekeeper
    • Wedding: May 2013

    We’ll buy a house when Fiance gets his HUGE promotion (hopefully soon!). We could afford one now, but his next promotion will involve a move, and we don’t want to buy a house just to sell it!

    Post # 16
    Member
    3028 posts
    Sugar bee
    • Wedding: June 2013

    @arborlon:  Same situation here, we will be TTC’ing this summer and have an app’t with a REA tomorrow evening.  I am not a fan of the weather here, so I don’t see us staying more than 5 years…of course nothing is 100%.  The Fiance qualifies for a no $ down mortagage w/ a great rate and house payments on a “family-size” house will be about what out rent is.  I really don’t want to be in our apt building/area with a baby- although we could always rent in another area- which will be more money.

    This calculator helped a bit http://www.realtor.com/home-finance/financial-calculators/rent-vs-buy-calculator.aspx Also my dad, who has owned many properties in his life says 5-7 years minimum to stay in an area BUT if it’s the same price as renting or close to it’s really a wash and you will be close to breaking even- which for me that’s fine!

     

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