Post # 47
While I absolutely hated throwing away money into rent (and yes – I agree that it throwing away money compared to building equity in a mortgage/house), Darling Husband and I rented for about 1.5 after we were married.
While we could have afforded to buy something, we weren’t in the right place in our lives to buy a home yet (not planing to be in one place long term and wanted to get more than just a starter home).
Post # 48
My Darling Husband and I dated for a year and a half before we were engaged (we knew each other for a long time before that though!) and for the first year, he rented his own condo downtown. I lived with my parents and would visit, stay over etc. When things started getting serious he said he wanted to move back home, save some money and that was that. What I didnt’ know at the time was that he moved home not only to save for a house, but for a ring. 🙂
He moved home in November of 2009 and we were engaged April 2010. I basically lived with him at his parents house (private basement apartment, full kitchen etc) and stayed at my parents the other nights of the week if i couldn’t be with him. We were married in June 2011 and purchased our first home just before the wedding (april) and moved in Sept 1st 2011. During the time we were both living rent free we put away every cent we could, worked over time, i got a part time job a few nights a week… save save save!
Houses are expensive but it is very satisfying to know that we are at least paying ourselves, and not someone else when the “rent” is due. :)However, in your situation, i think it’s perfectly normal to rent until you’re ready to buy! Buying under pressure or when you are not financially prepared will only add stress to your relationship and that is not good. Rent something that is very affordable, save your pennies and when something comes up that you can afford you can move on from there! You will only end up resending each other if you are pressured into buying something that you either can’t afford, or are extremely strapped to keep up/pay the bills and not be able to enjoy married life together.
I don’t think it’s uncommon at all to see married couples renting … finding that perfect house, in the perfect price range, in the area you want is not always easy. Just enjoy each other and keep saving, and know that one day soon you’ll have the means to buy your own place together, when you’re ready!
Post # 49
We’re planning on moving in together pre-marriage, but both of us are EXTREMELY anti-rent. FH is technically currently renting from his aunt because he had to move to another city for an internship, but before that we were both living with our parents. When he moves back this summer, we’re planning on buying a condo.
Post # 50
We’re renting together right now while we save for a downpayment on a house.
Post # 51
we rent… we found a house that at the moment we would not be able to afford to buy… so it worked out for us awesomely
Post # 52
we rent and are buying now (mid 30s) because we live in NYC where it is super expensive to buy. I think our parents’ generation was taught that home ownership is the ONLY way to go, but I think that is a misguided Americana notion. You can invest money in lots of assets, real estate is just one option.
However, while I don’t think owning a home is in any way a pre-requisite to marriage, I do think being self sufficient pretty much is! (whether that is on student loans or whatever, i think you need to be able to pay your rent/mortgage, bills, etc before you can realistically start a marriage)
Post # 53
@sommertime: It is not uncommon for couples to rent for a whil before they buy a house. I cannot give you advice since my Fiance is 11 years older than me and is financially independent with two houses. I am pretty much just taking off my shoes and moving in the second house he just bought. I have not even graduated university yet so I cannot contribute in any way to this, nor has he asked me to. He knew I was much younger when he decided to put a ring on my finger so that has not been an issue for us. However, everyone else who I know who is getting married will rent and wait till they save up together. Yes, rent can be a waste of money. But buying a house you cannot afford will put a huge strain on your relationship and your finances. Do no let people pressure you into doing something you cannot afford. Decide what’s best for both of you.
Post # 54
I voted on your poll on how WE did it, not how I think you should. Personally I think it’s fine to rent until you can buy. I understand that you are paying someone elses mortgage by renting…. BUT that being said, we actually pay more on our mortgage a month than we would if we were to rent a house like the one we live in. Probably by around £100 (that’s about $160) it wasn’t like that when we bought our house, but house prices have dropped over recent years, so just works out that way
Post # 55
Thank you everyone for all the advice! I appreciate the input 🙂 I think I’m feeling much better about renting before we buy. Thanks!
Post # 56
I don’t know who you are talking to but i don’t know anyone that bought a house together right away when they got married unless they already had been renting and living together. There is NOTHING wrong with renting. That being said I think renting is a temporary solution and i wouldn’t rent for a long period of time unless i couldn’t afford a home. When you can afford to buy, you are comfortable and secure in your jobs, and you know where you want to live…. then you buy and not a minute before. To me it doesn’t matter if that happens before your married or after you’ve been married for 10 years. If you do so too early you are risking too much because if you have to sell too soon you will lose money.
We bought a house after renting an apartment for 2 years. We don’t regret those 2 years at all. But we love being in a house now.
Post # 57
We rented at first and the last year there was horrible I was paying to live in a place that was hell. We bought our house in July and couldnt be happier. Our mortgage payment is cheaper then rent. I would say compare both (make a pro and con sheet) and see if that helps make your decision easier.
Post # 58
The right time to buy a house is when you’re ready to buy a house! Don’t listen to those people. Get married whenever you feel the time is right, and buy a house when you have enough money saved to feel comfortable with the purchase.
Post # 59
We bought a home 2 years ago, we arn’t married yet. I think everyone needs to find what works for them.
Post # 60
My husband & I rent. We have been since before we got married & plan to until we can afford to buy. (We are hoping to buy sometime next year as long as we save enough by that time.)
There is nothing wrong with renting!
Post # 61
I can understand the logic behind the argument that people should wait to get married until they are financially stable (comfortable enough money wise to buy a home together, for example) but that’s just not in the cards for everyone. Just do what you can! Eventually you will be able to buy. Your situation is not uncommon at all these days.
Edit: forgot to add that SO currently owns and I am renting. When we are engaged, we will buy a new home together.