(Closed) **Please help!!**Did you/will you rent together before buying a home?

posted 8 years ago in Home
  • poll: What did YOU do/are planning on doing after getting married?
    Rent and save money for a house in the future : (202 votes)
    82 %
    Buy a house and move into it right after you got/get married : (31 votes)
    13 %
    Live with the parents until you can rent : (2 votes)
    1 %
    Live with parents until you can buy : (12 votes)
    5 %
  • Post # 62
    Member
    3470 posts
    Sugar bee
    • Wedding: July 2012 - The Gables Inn, Santa Rosa, CA

    We lived together all through college, renting.  Then, we got engaged right before our final semester, and after college we rented for another 6 months to save up, bought the house; then started saving again for the wedding.  A year after buying, we are now getting married. 🙂

    Post # 63
    Member
    2104 posts
    Buzzing bee
    • Wedding: September 2012

    I think the most obvious solution towards helping you achieve your goals is renting together instead of renting separate places.  That extra rent money IS being thrown away because it could be going towards a down payment.  There is nothing wrong on waiting and renting.  The market is really appealing for buyers right now because house prices and interest rates are low, but that still doesn’t mean one should buy a house one can’t afford, in the same way that one shouldn’t have a wedding one can’t afford. 

    All that said, I wouldn’t feel comfortable getting married unless my partner and I had some savings/retirement plan. 

    Post # 64
    Member
    3175 posts
    Sugar bee
    • Wedding: May 2012

    Yes, we’re renting until we’ve paid off our student loan debts. We keep going back & forth on the issue, but we keep coming back to that being the most responsible decision (for us).

    Post # 65
    Member
    239 posts
    Helper bee
    • Wedding: April 2012

    We are currently renting and saving up for a house. Being able to buy a house right away was not a consideration in the timing of our wedding. 

    One thing that I want to mention is that you’re taxed differentely once your married (in the US at least). I knew this before getting married, but I never did the math and was plesantly surprized when I got my first married paycheck. I make about $30k a year, and going from single to married reduced my withholding enough that I’m getting about $200-300/month more, which can go towards down payment savings! 

    Post # 66
    Member
    326 posts
    Helper bee

    For me I know that I’ll have to move for my job after I get married so buying a house really isn’t an option. I was a teen before my parents bought a house and by then they had saved up for the house of their dreams. I’m not in a rush although I know that if I could buy somewhere sooner it would save me a lot of money on rent. 

    Post # 67
    Member
    102 posts
    Blushing bee
    • Wedding: September 2012

    If you can’t afford to buy, rent. Yes, buying means you will eventually own your home outright, but you are also responsible for every aspect of it, which can mean a sudden bill of, say, 2k if the boiler breaks. Renting means you don’t have that fear. We rented for two years before buying and it meant we had the time to find the right place for the next 10-15 years, rather than buying a house we could afford now but which we’d want to leave behind us in 2-3 years. For buying to be effective, it has to be a long term thing. Don’t buy if you can’t afford a place you’d actually like to live in.

    Post # 68
    Member
    140 posts
    Blushing bee
    • Wedding: November 2014

    We lived with my dad in the basement for 2 years when I was 18/19 then we decided to buy I wanted to give renting a try with him but he insisted it would be a waste of money so we saved up and bought a place together. So we have lived here for 3 years coming up owning it and I bought it when I was 20 We have been dating 6 years and it was the best choice. Im so glad we never rented. 

    Post # 69
    Member
    129 posts
    Blushing bee
    • Wedding: May 2012

    We’re renting. We’re actually moving in July and are signing a lease later today for a new apartment. Neither of us like our current town, so we’ll probably keep renting until we move a considerable distance. I have no problem being married and renting.

    Post # 70
    Member
    85 posts
    Worker bee
    • Wedding: June 2012

    We aren’t living together until after we get married but we will be renting. We have actually already signed a lease for an apartment and have slowly started moving some stuff in, Like gifts from the shower and we bought some furniture. 

    We decided that renting was the best decision for us because 1) We aren’t really in a position to buy ( I just graduated and am looking for a job currently) 2) When we get a house we want to have a house that we love, we don’t want to have to settle for something just because it’s there and we’re running out of time. By waiting we will be able to save up and talk about what features we want in a house such as 2 car garage, finished basement, good area, etc. Or at least we will be able to decide what features are most important to us as a couple.

    Post # 71
    Member
    1093 posts
    Bumble bee
    • Wedding: August 2013

    My FH and I were dating three years before he would entertain the notion of living together.  I was expecting us to rent as I had almost nothing in savings, and plus we’d never lived together and while I loved him, I kind of think that until you live with someone you’ll never really “know” them.  However, he was completely insistant and buying a home, and had enough for a down payment so we found a small little condo and have been happy ever since. Two years later and he decides this is going to work after all and so finalllllly asked me to marry him. lol!  So I suppose we did it a little backwards, but it works. 

    Renting is fine if you don’t have enough for a downpayment. That way you don’t have to worry about house maitenance and so forth. 

    Whatever you do, my advice is get out of the parents home! 

    Post # 72
    Member
    9950 posts
    Buzzing Beekeeper
    • Wedding: December 2012

    At my age (over 50) I’ve heard every argument for both sides…

    So ya home-ownership can be great… and part of the reason that it is is so touted as the thing to do for young couples.

    Part of that comes from the idea that you really do OWN something, and statistically (at least up until the Depression of 1929, and then up until the recent American Recession) investing in a home was a great way to keep ahead of the curve when it comes to interest rates, and high returns on one’s money

    BUT to be honest home-ownership isn’t for everyone.  It is expensive.

    Significant Down Payment – Home Inspection – Real Estate Fees – Lawyer Fees – Land Transfer Taxes – Closing Costs – Municipal Taxes – Moving Fees – Utility Account Set Ups etc

    And that is BEFORE you even move in

    Owning a house is an ongoing cash layout.  There is no escaping the endless supply of things that need to be bought, maintained, upgraded or replaced.  And all the ensuing items that go along with that.

    As others have said, renting has a lot less worries… furnace breaks down… you call the Super… not see yourself needing to suddenly come up with $ 4000 to replace it (can’t put off such a purchase if you are in the middle of winter with temps hovering below 0)

    Truly, home ownership is a HUGE commitment, and not something ideal to everyone or their lifestyle.

    Everyone needs to make up their own mind on this, and what REALISTICALLY will work for them (otherwise Home Ownership can end up being a HUGE MONEY PIT sucking the life out of one’s Bank Account and their relationships)

    EDIT TO ADD – As a Newlywed, I’d never want to live with anyone else… Parents, Family etc.  Just not condusive to getting one’s marriage on track and building a life / nest together IMO.

     

    Post # 73
    Member
    19 posts
    Newbee
    • Wedding: June 2011

    My husband already had a house and sold it after we got married. We’re currently renting because: a) We don’t know if we’re going to stay in the city we are in; b) I have another year of grad school; c) Owning anything these days makes me squeamish. Until I see that the market really improves, I’m not willing to sink our money into something that we may have trouble selling and/or lose money on in the future. With renting, you do wind up paying more but at least you can leave when you feel like it.

    Post # 74
    Member
    270 posts
    Helper bee
    • Wedding: November 2013

    My SO and I are not officially engaged yet but are already living together.  After 2 years in a LDR we moved in together and plan to purchase a house in a few years.

    The topic ‘**Please help!!**Did you/will you rent together before buying a home?’ is closed to new replies.

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