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We own a house in the Atlanta suburbs. Our mortgage for a 3,000 sq ft house is the same as rent for a 2 bedroom apartment, so it was an easy decision. We have some work to do on the house but we've got time.
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We own. But at 800 sq ft, we will quickly grow out of our home once we have children. We've started looking at bigger homes (especially with lower interest rates we can get more house for about the same monthly pmt) but we are very picky about what we want-a home out in the country with some land and lots of trees, bigger but not too big. We live on a small lake and we would love to stay here but most of the homes around the lake are very small with little room for expansion.
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We rent for now. We were actively looking last year with no luck. We're currently in a 3 bdrm 2 ba 1760 sq ft home and it's not big enough. We would prefer 4-5 bedrooms and 2200 sq ft, I doubt we'll find one in our comfortability range any time soon. Dh also wants some acreage and a shop, I better buy a lottety ticket
In Oregon rent is high, but so are home prices.
We have 4 kids in total, that's why we'd prefer a bigger home. Before baby 1700 was perfect. -
Right now we are renting an apartment. We have started the initial paperwork for buying a house. So hopefully we will be homeowners in the near future.
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We own a home, we bought it 2 years ago when we relocated to a smaller city with way cheaper house prices, which is good because we plan to stay here a few more years. We were lucky enough to move just when the market was in a slump, so we got a good price and awesome interest rate.
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We own a house. Sometimes I think it was a mistake since it's just so much work to have the responsibility solely on you if anything goes wrong.
It's also kind of depressing to think that so much money is required for the down payment, the insurance, taxes, mortgage, bleh!
I would have rather waited 6 years, save for the entire cost of the house and pay it up front rather than have a nagging loan!
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We happily own since it's not necessarily the easiest thing to do in the Bay Area.
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I own a one-bedroom unit in a cooperative building on the East Coast but we rent here in Seattle - that unit is currently empty but I'll put it back on the rental market soon. We're looking for a single family home here in the 'burbs and will probably buy sometime next year.
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We are renting for now. I just graduated and we just moved here for my job. We have a 1 year lease (just over 6 months left) and plan to buy as soon as we find a place we like.
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We own. We decided to buy with the market being the way it is and int rates being so LOW. so we jumped right on that. Got a great deal for our 3br, 3ba. 2330sf house on 2.5 acres.
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Rent. Husband's job is subject to change on a yearly basis, so it makes NO sense to buy until he's in another job.
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We oen our home. Rent and mortgage prices are pretty much exactly the same here. And we got a great deal on our house.
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We rent because we are young (22/23) and we want to save money first. Our rent is reasonable because we live in a rural area. We just want to wait awhile to figure out exactly where we want to settle down.
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We rent a townhouse in the Bay Area. We know we're not going to be living in this area long-term, and on top of that housing prices are ridiculous, so we couldn't even afford to buy if we wanted to. We've been saving aggressively though and will still continue saving at a slower pace once the baby comes b/c we intend to buy a house once we move somewhere where we actually plan to settle down.
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We bought our first house 3 years ago in a quiet neighborhood. 20 days before our wedding we found a foreclosure that we knew would be our forever home. Last year the market was too bad to sell so we've been working on renovating our 4000+ sqft house while living in the mess & renting out our first home for the last year.
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This thread is so much more meaningful than the starter home cost thread, I think, because the cost of living is so different around the world. We rent, because we knew we were going to relocate and didn't want to be tied down to having to sell a house.
Where I live, home ownership is very low. There are families that live their entire lives in a rented apartment and have no desire to own a home. Part of the reason is that homes sell very slowly because there are very few on the market at any given time, the cost of a starter home is very high and that people where I live view a mortgage as a long term risk.
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We own. Two homes.
My husband owned a townhouse before I met him, and then we were stuck with it. But when I got pregnant, we wanted a bigger house, no stairs, fenced in back yard for the dog, all that good stuff. So we bought another house and now we rent out the townhouse.
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We rent for sure. We can afford for me to stay home for a bit with a baby if we stay here. "Here," is the other side of my ILs duplex - 3 bed, 1.5 bath, 2 stories with a fenced in back yard and pool for $600/mth. It's unheard of in our area, but ILs gave us a steal both to help us out and to avoid horrible tenants!
Within the next 5 years or so we'll likely look to buy. It'll all depend on how DH wants to do commuting to his job..we might make the cross over into MA.
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We live in NYC and we rent. Given the cost of childcare, I don't see us making a purchase for the next 3 years or so.
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Well.... we technically both rent and own a home. We inherited DH's dad's house a few months ago when he died. It is totally paid off and back in St. Louis waiting for us.
We live in the UK and rent here. Even if we wanted to buy, we couldn't afford it. :\
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We rent. Hopefully we will be homeowners in the next 2 years or so, but we're not yet sure that this is the area we will settle down in.
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