Spinoff do u move just because u can't afford house?

amother

Copper

Mon, Apr 24 2017, 6:56 pm

Do pple really move if everything is great, jobs, kids happy in school happy with community, friends ect if u can't afford a house? Do pple really uproot their entire family, leave jobs ect to move far away JUST FOR THIS REASON? (I am clarifying everything else is picture perfect)

Chana Miriam S

Mon, Apr 24 2017, 7:38 pm

amother wrote:

you can always move to somewhere cheaper locally. if you can't afford your house, you will end up losing it anyways. if I could not afford mine, I'd rent out the basement. it's a three bedroom apartment.

seeker

Mon, Apr 24 2017, 7:45 pm

andrea levy wrote:

OP please clarify, I assumed OP meant if they are renting and can't afford to buy - would you move to a place where you can buy a home or just keep renting because everything else is great.

Personally, even though I see both sides and understand the value of owning your own house, I'm content enough to stay a renter if all else is equal and the rent is affordable. It's low maintenance!

amother

Amber

Mon, Apr 24 2017, 7:49 pm

I would not move if everything else was picture perfect just because I can't afford a house. I would be thrilled if I were offered the following choice. Sell your house rent a small apartment but all other external factors in you life will be picture perfect. Of course I would do it.

But how many people are living picture perfect lives with regard to all external factors influenced by where they live ?

groovy1224

Mon, Apr 24 2017, 7:50 pm

Of course.

Especially because if you live in an area where homes are expensive, it generally means rentals are expensive too. So people are faced with paying exorbitant prices for 3+ bedroom apartments, or buying a spacious home somewhere else for a smaller monthly payment than their rent would be. With a backyard and a driveway and a basement.

amother

Copper

Mon, Apr 24 2017, 7:52 pm

Amber why not, I pay $2100 for 3 bedroom in NY, money is tight for us but otherwise me and dh happy, kids are really really happy and well adjusted... So why are we moving so we won't be financially so tight?

amother

Pewter

Mon, Apr 24 2017, 7:52 pm

Andrea levy- I think op means uprooting your family to a non-local place in order to afford to buy rather than stay and rent forever. Not to literally stay in a dwelling they currently can't afford.

To answer op- if everything else was truly perfect and unable to be replicated elsewhere, then I suppose it would be crazy. But homeownership is pretty darn important if you can make it happen. It offers a level of financial security that is hard to replicate in any other way.

sourstix

Mon, Apr 24 2017, 8:12 pm

Many people in Lakewood moved because housing is cheaper. Even if their family and jobs were good. Many people can do the same in different places and housing is a big deal. Especially if you need a big house because you have a big family

Answer to op yes! Nothing is ever perfect. I moved to Lakewood for a host of reasons, and bh it was well worth it. If you go in with your mind set that nothing will be perfect then you will be happy. As long as my dh and kids are happy I'm too.

amother

Violet

Mon, Apr 24 2017, 11:17 pm

If you can't afford a house, you probably won't be able to afford many of the other things that are considered standard in your neighborhood. As the kids get older, they will notice that they don't have the right clothes, don't take the right vacations, whatever. You're better off finding a neighborhood where you fit in financially.

amother

Bisque

Mon, Apr 24 2017, 11:20 pm

amother wrote:

This. Or you will go into trendies debt trying to keep up.

amother

Copper

Mon, Apr 24 2017, 11:24 pm

Really? I have a hard time believing this.. U making it sound like out of town and cheaper places the teenagers are all nerdy ect.. It's not true. I am from out of town but live in NY now. I don't think this is so true. I feel like I have everything here bh we all so happy, yes we are little financially tight(and of course I would love a big house with bog yard..) but is that really really a reason to move?

amother

Brunette

Tue, Apr 25 2017, 1:30 pm

I wouldn't move (by which I mean, we haven't moved for this reason).

Also, just out of curiosity, how come having mortgage (e.g. technically being in debt) is more financially stable than renting?

amother

Cobalt

Tue, Apr 25 2017, 1:37 pm

amother wrote:

I wouldn't move (by which I mean, we haven't moved for this reason).

Also, just out of curiosity, how come hhaving mortgage (e.g. technically being in debt) is more financially stable than renting?

Because rents can always be raised and homeowners can decide they don't want you renting from them anymore and give you a couple of months notice to leave (happened to s/o in my neighborhood who rented for 20+ yrs and suddenly were faced with having to find a new place that was affordable and big enough to host their marrieds for yom tov and singles who were still living at home after living in this huge old house with a massively below market rent for yrs and yrs. A mess!) and because mortgages are "good" debt and often advantageous for tax purposes.

rachel0615

Tue, Apr 25 2017, 1:39 pm

I would. In fact, we are currently considering moving somewhere where rent is cheaper and housing is too so we can save up for a house. I personally would feel very unfulfilled if I never was able to buy a house. It may be dumb but its important to me. Paying a mortgage at least doesnt feel like money down the drain because it is going towards the eventual owning of your house. Of course if you buy a house with a mortgage thats killing you and you will prob not be able to come up with, no thats not stable at all.

amother

Pewter

Tue, Apr 25 2017, 1:46 pm

amother wrote:

I wouldn't move (by which I mean, we haven't moved for this reason).

Also, just out of curiosity, how come having mortgage (e.g. technically being in debt) is more financially stable than renting?

Assuming you bought a house you could afford, a house is generally a secure investment. The mortgage payment is going to the bank but you are building equity in an asset that is YOURS. Sure, stuff breaks in a house that you have to fix, but you are spending money fixing what belongs to YOU. When you rent, the money goes to a landlord. When something breaks, the landlord may fix it, but he also might not (depending on your lease, who was at fault, etc) in which case you are putting money into someone else's property. Also, most mortgages are fixed. Your payment stays the same for many years. Rent rises. You may need to move sooner than youd like, which brings its own expenses. Now, if you can't afford a home, this doesn't apply. But this is the general situation when you are in a position to own a home.

ectomorph

Tue, Apr 25 2017, 2:21 pm

amother wrote:

yes because the rent can rise. And I'm from NY and live oot in a high cost of living area and frum life is still cheaper. I don't have to dress to impress every day. We never get takeout.