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Move now to a rental or wait to buy

 
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amother




Lavender


Post  Mon, Feb 12 2018, 9:33 am
I currently live in a two bedroom apartment in Brooklyn. We looked into a few communities with a decent commute for dh and we decided on one and are currently looking at houses there. I have been looking for around 6 months now and am very discouraged. I would like to ttc but I am not ready to have another kid in my apartment. My oldest is 5. If the summer comes and I did not yet find a house does it make sense to move there to a rental? That way Ill have taken the step, be in the community that I want to end up in. The longer I wait the harder starting off will be and I can ttc. My main drawback of that is that I will have to sign a year lease on a rental. I will be pushing off my house hunt and the houses are only going up. I am not locked into my current apartment. I can move whenever.....
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amother




Burlywood


Post  Mon, Feb 12 2018, 9:38 am
I had something similar. Was living in Brooklyn. And would not have another kid there. Was looking for a house but we were very picky. I said we should move to a rental and dh didn’t want to because rents was very high and he just felt like it was a waste of money and we should buy something. I didn’t feel that I would buy anything that I didn’t really want. So if rent is similar price than what you are paying I would say go for it ( a year isn’t long when you didn’t find a house... takes time to close... don’t know if you plan on doing work on it but that takes time also) or you will have to see all houses avaible in your price range and pick the best one.
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amother




Lavender


Post  Mon, Feb 12 2018, 9:47 am
I am currently renting a two bedroom apartment paying 1810 plus gas and electric. If I move to another rental in this community it would be around 3000 plus utilities. There aren't really two family houses or apartments to rent there...just houses. A mortgage on a house in my budget would be around 2800...so renting would be a big expense for us but I am so done with apartment life and want my space and backyard. I just dont want to do anything impulsive and than regret it....I can technically stay in my two bedroom until I found my house..
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amother




Burlywood


Post  Mon, Feb 12 2018, 10:09 am
It’s hard to move twice. I would say hour better off staying and buying something
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amother




Lavender


Post  Mon, Feb 12 2018, 1:23 pm
amother wrote:
It’s hard to move twice. I would say hour better off staying and buying something


the actual moving and packing and unpacking doesnt scare me. My question really is will I better off with the peace of mind moving to a rental and I know I left Brooklyn and am in the community I want to end up in and I am living in a house. That sounds nice but there is no way I can afford mortgage and rent and I will be forced to sign a year lease if I move to a rental so I will be putting my house hunt on hold for a few months and the housing is rising every day. On the flip side it will be a lot easier to actually do the house hunt if I am there already. My heard wants to move to get out of Brooklyn but my brain is kind of telling me to wait...but I want to just leave apartment life behind me and be in my own space even if it means just a rental. Also I do not like my current job but I am not looking for a new one now because I know I am moving soon and I really want a new job already!!
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amother




Lavender


Post  Mon, Feb 12 2018, 1:24 pm
amother wrote:
I had something similar. Was living in Brooklyn. And would not have another kid there. Was looking for a house but we were very picky. I said we should move to a rental and dh didn’t want to because rents was very high and he just felt like it was a waste of money and we should buy something. I didn’t feel that I would buy anything that I didn’t really want. So if rent is similar price than what you are paying I would say go for it ( a year isn’t long when you didn’t find a house... takes time to close... don’t know if you plan on doing work on it but that takes time also) or you will have to see all houses avaible in your price range and pick the best one.


what did you end up doing at the end? move to a rental or buy?
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mha3484









  


Post  Mon, Feb 12 2018, 1:31 pm
I would rent for a year. Your sanity counts for something too. A year of more space and a back yard is a good thing. You can also ask a potential landlord if you can do a six month lease. It also gives you some time to make sure you 1000% like the new community before you buy,
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amother




Burlywood


Post  Mon, Feb 12 2018, 2:21 pm
Yeah totally hear what you are saying. There are pros and cons about both. Was in the same boat. Ended up staying until I bought something. Ended up building a home which took time but stayed where I was.
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amother




Ivory


Post  Mon, Feb 12 2018, 3:27 pm
How much is a rental in the new community as compared to your current rental? Would it be at least a bit cheaper? Like you said, you have added benefit of being closer to look for a house you'd like and you can try to find a job in the area etc. You also get a little longer to look at the community before settling down there. I'd probably set some sort of goal, like if I don't find a house by xx date, then I will look for a rental with lease starting in Aug/Sept - so my child can start school in new area.

You can also ask potential landlord if you can have a clause in there regarding if you need to leave before the year is up, if you can pay a sum of $ and give x days notice to break the lease, therefore you won't be tied in.
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amother




Lavender


Post  Mon, Feb 12 2018, 5:17 pm
amother wrote:
How much is a rental in the new community as compared to your current rental? Would it be at least a bit cheaper? Like you said, you have added benefit of being closer to look for a house you'd like and you can try to find a job in the area etc. You also get a little longer to look at the community before settling down there. I'd probably set some sort of goal, like if I don't find a house by xx date, then I will look for a rental with lease starting in Aug/Sept .


I am currently paying 1810 plus gas and electric for a 1000 sqft 2 bdrm apt in a building. The place I want to move to really only had has houses. Rent would be like 3000 a month plus utilities...its a big jump in price but hey it will prepare us for when we buy and have a mortgage because mortgage will actually be a little less than that.
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