Housing costs are pretty low, what we could afford to buy would be pretty similar to what we could afford to rent, even with a low down payment. The big difference I'm seeing is that we want to move away sometime in the next 1-5 years. I'm tired of not being able to rip out the tub I hate or dig up the lawn, but I'm afraid of not being able to sell when we're ready to go and not building up a useful amount of equity in the meantime.
We're deep in space, corner of No and Where.
Mal ,'Objects In Space'
Spike's Bitches 22: You've got Angel breath
[NAFDA] Spike-centric discussion. Lusty, lewd (only occasionally crude), risque (and frisque), bawdy (Oh, lawdy!), flirty ('cuz we're purty), raunchy talk inside. Caveat lector.
-t - Feb 15, 2005 9:07:57 am PST #1187 of 10001
I am a woman of various inclinations and only some of the time are they to burn everything down in frustration
Susan W. - Feb 15, 2005 9:08:49 am PST #1188 of 10001
Good Trouble and Righteous Fights
We're hoping to switch from renting to owning somewhere early in 2006. I'm not looking forward to it, because we've had an unbelievably sweet deal on rent. Our lackadaisical absentee landlord has never actually raised it, and we've been her since September '99. But this house is just getting too small for us now that we're a family of three. And that alone is forcing our rent v. own decision, because anything above a 2-bedroom is rare in a rental property.
Anne W. - Feb 15, 2005 9:10:07 am PST #1189 of 10001
The lost sheep grow teeth, forsake their lambs, and lie with the lions.
Even though things have been tight and I'm seriously about ready to blow up my house right now, I would definitely recommend own rathe than rent. Real estate is probably the safest investment you can make.
Scrappy - Feb 15, 2005 9:12:13 am PST #1190 of 10001
Life moves pretty fast. You don't stop and look around once in a while, you could miss it.
Owning gets you tax breaks, which can be pretty considerable. I knew I'd be selling my co-op in NYC in five years or so when I bought it, so I put the tax money into paying extra on the mortage. This brought the principl down enough that when I sold it, I had a nice chunk of change. Being a homeowner is also good for your overall credit picture.
-t - Feb 15, 2005 9:13:59 am PST #1191 of 10001
I am a woman of various inclinations and only some of the time are they to burn everything down in frustration
That's part of it, too, Susan. What we have now is technically a 2BR and it's way too small. So we need either a bigger 2BR or a 3+, with a yard, that takes dogs, and I'd prefer not to share walls as I really don't like knowing when my neighbors orgasm. There are rentals like that, but there are more for sale.
vw bug - Feb 15, 2005 9:14:20 am PST #1192 of 10001
Mostly lurking...
Susan, WooHoo! That's fabulous!
Poor Cindy! How's that nose feeling?
-t - Feb 15, 2005 9:16:40 am PST #1193 of 10001
I am a woman of various inclinations and only some of the time are they to burn everything down in frustration
I knew I'd be selling my co-op in NYC in five years or so when I bought it, so I put the tax money into paying extra on the mortage. This brought the principl down enough that when I sold it, I had a nice chunk of change.
That's a very interesting idea.
Gudanov - Feb 15, 2005 9:19:21 am PST #1194 of 10001
Coding and Sleeping
Actually the tax breaks may not be that much if housing costs are low in your area. Last year I couldn't itemize enough to beat the standard deduction even with the mortgage interest deduction.
Topic!Cindy - Feb 15, 2005 9:20:25 am PST #1195 of 10001
What is even happening?
Susan, WOO HOO!
Poor Cindy! How's that nose feeling?Still a little sore, but not nearly as bad as it was. Chris and I just read a book. I can't get over his reading. It's really something.
How's that paper feeling, vw?
-t - Feb 15, 2005 9:23:16 am PST #1196 of 10001
I am a woman of various inclinations and only some of the time are they to burn everything down in frustration
Hm. My friends that bought a place for $80k were impressed with their tax deduction. It's mostly based on interest paid, which is a large percentage of teh early mortgage payments, right?
This is what I've been doing since we realized we'd have to move, talking myself in and out of buying.
You let him have a book, Cindy? You're very brave.